Fidelity Bank Plc has made significant strides in meeting the Central Bank of Nigeria (CBN)’s recapitalization requirements ahead of the June 2025 deadline. 9am News Nigeria can confirm that investor confidence in the bank has soared following the overwhelming success of the first phase of its capital-raising campaign.
The bank’s Combined Offer, which included a Public Offer and Rights Issue, received an exceptional response, with the Public Offer oversubscribed by a staggering 237.92%, amounting to ₦231.7 billion in applications for 23.76 billion ordinary shares. The Rights Issue was also oversubscribed by 137.73%, attracting applications for 4.4 billion shares worth ₦40.7 billion.
Dr. Nneka Onyeali-Ikpe, Managing Director and CEO of Fidelity Bank, attributed this success to the bank’s strong market reputation, stating, “The positive results recorded in our Combined Offer are a testament to the strength of the Fidelity Bank franchise in the capital market.”
Market analysts from Apel Asset Limited report that Fidelity Bank has delivered an 80% return on investment for shareholders since 2023, positioning it among Nigeria’s top-performing financial institutions. They project a minimum annual appreciation of 28.88% in Fidelity Bank’s share value, further reinforcing investor optimism.
The capital raised will be strategically deployed to expand domestic and international operations, enhance technological infrastructure, and improve customer service initiatives. Fidelity Bank remains committed to surpassing its recapitalization targets, ensuring sustained value for stakeholders while maintaining its competitive edge in the Nigerian banking sector.
With a clear growth strategy and strong investor backing, Fidelity Bank Plc is not just meeting CBN’s recapitalization mandate but setting a new benchmark for financial stability and expansion in Nigeria.
Stay tuned to 9am News Nigeria for more Breaking News, Business News, Sports updates And Entertainment Gists.
