Fidelity Bank Plc has announced the promotion of 376 employees, representing approximately 12% of its total workforce, as part of its recently concluded annual performance review exercise.
The promotions come on the heels of a 20% across-the-board salary increase implemented in June 2025—marking the second wage adjustment in less than a year, following a similar increment in November 2024. This move reflects the bank’s commitment to rewarding excellence and prioritizing employee welfare.
The announcement, made internally, aligns with the bank’s record-setting financial results in 2024, which saw a staggering 210% increase in Profit Before Tax (PBT)—rising from ₦124.3 billion in 2023 to ₦385.2 billion in 2024.
This represents the highest year-on-year percentage growth in the Nigerian banking industry.
Under the leadership of Managing Director and Chief Executive Officer, Dr. Nneka Onyeali-Ikpe, Fidelity Bank has sustained a strong performance streak, recording a 116% increase in share price during the year.
This followed a highly successful public offer that was oversubscribed by 238%.
Further reinforcing the bank’s positive trajectory, global credit rating agency Fitch Ratings recently upgraded Fidelity Bank’s National Long-Term Rating from ‘A(nga)’ to ‘A+(nga)’. The improved rating reflects stronger profitability metrics, robust capital buffers, and sound management practices.
The combination of improved compensation, enhanced staff morale, and market confidence underscores Fidelity Bank’s position as one of the most dynamic and employee-focused financial institutions in Nigeria’s banking sector.
