Fidelity Bank Plc has announced the promotion of 376 employees, representing about 12% of its workforce, following the conclusion of its 2025 annual performance review. The bank also implemented a 20% across-the-board salary increase in June, reinforcing its commitment to staff welfare and motivation.
The internal announcement comes on the back of Fidelity Bank’s exceptional financial performance in 2024, during which it recorded a 210% growth in Profit Before Tax (PBT), rising from N124.3 billion in 2023 to N385.2 billion in 2024. This remarkable achievement positions the bank as the industry’s top performer in terms of percentage growth.
This latest salary increase follows a similar adjustment made in November 2024, as part of the bank’s continuous efforts to reward and retain talent.
Under the leadership of its Managing Director and Chief Executive Officer, Dr. Nneka Onyeali-Ikpe, Fidelity Bank has sustained an impressive growth trajectory. In 2024, the bank posted the highest share price growth in the Nigerian banking sector—an increase of 116%—following the successful completion of its Public Offer, which was oversubscribed by 238%.
In further affirmation of its financial strength and strategic direction, global rating agency Fitch Ratings recently upgraded Fidelity Bank’s National Long-Term Rating from ‘A(nga)’ to ‘A+(nga)’. The rating agency cited improved profitability, strong capital buffers, and prudent risk management as key factors behind the upgrade.
Fidelity Bank’s latest moves underscore its strong emphasis on employee engagement, operational excellence, and sustainable growth, as it continues to consolidate its position as a top-tier financial institution in Nigeria.