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FIDELITY BANK GROWS PROFITS BY 30.6% TO N25.1BN
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…Proposes Dividend of 11kobo Per Share
Fidelity Bank Plc, in a clear demonstration of its resilience and stability, has announced an impressive financial result for the year-ended December 31, 2018. The performance which capped a remarkable year, showed strong growth in Gross Earnings, Profits and other key financial indicators.
The top Nigerian lender which has become the clear leader among Tier 2 banks, posted a 4.8% growth in Gross Earnings from N180.2BN to N188.9BN whilst Profit Before Tax soared by 30.6% to N25.1BN, when compared with the 19.2BN it recorded in 2017.
Profit After Tax grew by 29% from N17,7BN in 2017 to N22.9BN in 2018, whilst Operating Income rose by 13.9% from N85.9BN to N97.2BN. Customer Deposit, which is a measure of consumer confidence rose by 26.3% from N775.2BN to N979.4BN just as Total Assets grew by 24% from N1.4TRN to N1.7TRN.
In other indices, Non-Performing Loans (NPLs) Ratio dropped to 5.7 percent from 6.4 percent in the 2017FY due to a combination of recoveries, loan write-offs and the absolute growth in the loan book. Other Regulatory Ratios remained above the required thresholds with Capital Adequacy Ratio (CAR) at 16.7 percent and Liquidity Ratio at 39.0 percent.
Buoyed by the strong results, Fidelity Bank is proposing a N3.2BN payout which translated to11 kobo dividend to shareholders.
“We are delighted by our 2018 numbers, which clearly shows a sustained performance trajectory. We are growing our market share with continued traction in our chosen business segments. We recoded double digits growth in interest income on our liquid assets, digital banking, FX and other income lines” said Fidelity Bank CEO, Nnamdi Okonkwo.
As seen in recent years, the bank’s digital retail banking approach has continued to yield positive results. Savings recorded its 5thconsecutive year of double digit growth with a 27.7 % increase to peak at N228BN. “Savings accounts for over 23 % of our Total Deposits, an attestation of our increasing market share in the retail segment”, he stated.
Okonkwo was also very enthused with the progress of its digital banking play stating that over 42% of customers are now enrolled on the bank’s mobile/ internet banking products and more than 81 % of total transactions done on digital platforms, resulting in 25% of fee-based income, coming from digital banking
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ZENITH BANK APPOINTS ENGR. MUSTAFA BELLO AS CHAIRMAN AT ANNUAL GENERAL MEETING
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ZENITH BANK EXPANDS FOOTPRINT WITH CÔTE D’IVOIRE SUBSIDIARY LAUNCH
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Zenith Bank Plc has announced the opening of its Côte d’Ivoire subsidiary, marking a pivotal achievement in the Group’s Pan-African expansion strategy.The official opening ceremony, scheduled to hold on Wednesday, April 29, 2026, is expected to attract senior government officials and regulators from Nigeria and Côte d’Ivoire, continental business leaders, and members of the diplomatic community, highlighting the strategic economic ties and investment opportunities between the two markets.The new subsidiary, licensed in December 2025 by the Ministry of Finance and Budget, Republic of Côte d’Ivoire, and regulated by the UMOA Banking Commission, will commence operations from its headquarters at SCI Wall Street, Avenue Noguès, Plateau, Abidjan.The launch represents a strategic move to deepen the Bank’s presence in Francophone West Africa and strengthen financial intermediation within the West African Economic and Monetary Union (WAEMU). Positioned as a gateway for cross-border trade and investment, Zenith Bank Côte d’Ivoire will focus on corporate banking, trade finance, local and offshore banking services, and structured financial solutions tailored to businesses operating across Africa and internationally.Commenting on the launch, the Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, said: “From the very beginning, our Founder and Chairman, Jim Ovia CFR, set out to build a truly global brand with a strong presence across Africa and key international markets. The launch of Zenith Bank Côte d’Ivoire is a bold step in realising that vision; opening a strategic corridor into Francophone West Africa and reinforcing our commitment to facilitating trade, investment, and enterprise growth across the continent. As we continue to expand thoughtfully and strategically, we remain focused on delivering world-class banking solutions that connect African businesses to global opportunities.”The new subsidiary will be headed by MD/CEO Mr. Cédric Tano, a seasoned banking executive with over two decades of experience. Speaking ahead of the official opening, he said “We are proud to establish Zenith Bank’s presence in Côte d’Ivoire at a time of strong economic growth in the country and increasing regional integration. Our focus is to showcase the Zenith brand as a customer-centric institution that combines global best practices with deep local insight. We are well positioned to support businesses with innovative financing solutions, facilitate cross-border trade, and contribute meaningfully to the growth of the Ivorian economy and the wider WAEMU region.”The Côte d’Ivoire launch forms part of Zenith Bank’s broader continental growth strategy. In addition to the Anglophone countries where it currently operates, and in line with the expansion into the Francophone market, the Bank has commenced its entry process into the CEMAC (Central African Economic and Monetary Community) region, with Cameroon as the focal point. With a footprint already spanning Nigeria, Ghana, Sierra Leone, The Gambia, the United Kingdom, France, the UAE, and China, Zenith Bank continues to bridge African markets with global opportunities, enabling seamless trade and financial connectivity across the continent and beyond.
Founded in 1990, Zenith Bank has grown into one of Africa’s most respected banking institutions, boasting a robust capital base and a consistent track record of strong financial performance. For 16 consecutive years, the Bank has held the record of highest Tier-1 capital in the Nigerian banking industry. Built on the foundation of People, Technology, and Service, Zenith Bank continues to deliver innovative financial solutions while maintaining a disciplined approach to growth and risk management. Its performance has earned it numerous local and international recognitions and endorsements.
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GTCO Food and Drink Festival 2026 Presents “Everything Food and Drink”
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Guaranty Trust Holding Company Plc (GTCO Plc) is pleased to announce the 9th edition of the GTCO Food and Drink Festival, scheduled to hold from Friday, May 1st to Sunday, May 3rd, 2026, at GTCentre, Plot 1 Water Corporation Drive, Oniru, Victoria Island, Lagos.Geographic Reference
This year’s theme, “Everything Food and Drink,” captures the expansive nature of the Festival experience. It reflects not only the variety of cuisines on display but also the depth of stories behind them. Over the years, the GTCO Food and Drink Festival has grown far beyond a seasonal celebration to become a culturally significant platform where food and drink serve as a meeting point for storytelling, innovation, and opportunity. The Festival will feature 204 free retail stalls, showcasing the rich diversity and creativity of our food culture; from time-honoured traditional dishes preserved across generations, to bold contemporary interpretations of global cuisine, creating space for every flavour, every technique, and every craving to find expression.
Visitors can expect a rich programme featuring interactive masterclasses, live culinary demonstrations, food and wine tastings, and a vibrant marketplace showcasing small and medium-scale food businesses alongside established culinary brands. In addition to its wide range of food and drink offerings, the GTCO Food and Drink Festival is renowned for its family-friendly atmosphere, with a well-equipped play area and a variety of engaging activities for children, ensuring an unforgettable experience for the whole family.
Speaking ahead of the 2026 edition, the Group Chief Executive Officer of GTCO Plc, Segun Agbaje, emphasized the Festival’s continued evolution as both a cultural and economic enabler: “The GTCO Food and Drink Festival has, over the years, become a living expression of what we stand for as an institution: innovation, opportunity, and enterprise that is accessible to all. What makes this platform special is not just its scale, but its humanity. It brings together people from different walks of life around something universal—food and drink—and in doing so, it breaks barriers and builds connections that extend far beyond the event itself.”
Since inception, the GTCO Food and Drink Festival has positioned itself as one of Africa’s most prominent culinary gatherings, attracting participation from across Nigeria and increasingly from the wider continent and diaspora.
Admission remains free and open to all, reaffirming the Festival’s commitment to accessibility as a consumer-focused event that brings people together through food, drink, culture, and enterprise.
For more information on the event, please visit: https://foodanddrink.gtcoplc.com
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