Fidelity Bank announces the impending retirement of Mr. Nnamdi J. Okonkwo, the Managing Director/Chief Executive Officer (MD/CEO) of Fidelity Bank Plc, from the Board of Directors of the Bank, with effect from December 31, 2020, upon completion of his contract tenure.
The Board has approved the appointment of Mrs. Nneka Onyeali-Ikpe, as the MD/CEO Designate of the Bank, to assume office with effect from January 1, 2021.
Nnamdi Okonkwo was appointed to the Board of Fidelity Bank in April 2012 as an Executive Director and was subsequently appointed the MD/CEO on January 01, 2014.
He implemented a Digital-led Strategy which led to significant growth across key performance metrics and increased market share,
with the Bank currently ranked 6th amongst Nigerian Banks on most performance indices.
Some of Nnamdi J. Okonkwo’s key achievements include:
PBT growth of 236% from N9.0bn to N30.4bn.
– RoE increase from 5.5% to 13.3%.
– Customer Deposits growth of 68% from N806.3bn to N1,352.3bn.
– Savings Deposit growth of 275% from N83.3bn to N312.1bn.
– Net Loans and Advances growth of 174% from N426.1bn to N1,165.8bn.
– Customer Base increase by 121% from 2.4 million to 5.3 million.
– Digital Banking penetration improved from 1.0% to 50.1% and now accounts for
28.4% of total fee income
In addition, the Bank successfully accessed the local and international markets through the issuance of N30bn Corporate Bonds in 2015 and $400million Eurobonds in 2017.
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