INTERVIEW: 81.5 % of our transactions are digital, says Fidelity Bank MD – Business Hallmark
Fidelity Bank has not only demonstrated its capacity and strength grow in an unstable macro-economic environment, but also a lender with ambition to push into the tier one banks’ club given its consistent performance. In this interview with Business Editors, MD/CEO, Fidelity Bank, Mr Nnamdi Okonkwo says digital banking will take the lender to the desired height.
Two years ago, we set out at Fidelity Bank, to drive a five-year strategic plan, beginning from last year that would see us migrating to a Tier 1 bank in the country by 2022. We want to break into the league of Tier 1 banks and grow organically, keeping in mind that the other banks are also growing. This is my sixth year as Chief Executive of the bank and by God’s grace we are driving the plan and the numbers show that we are making steady progress, year-on-year, in terms of balance sheet size, deposit and profitability.
As we are doing this, we are keeping our eyes on the safety of the bank. We have thus kept our eyes on the bank’s capital adequacy, liquidity ratios, risk management framework, governance and compliance practices etc. For instance, as a result of our prudence in building up capital, we were able to cushion the impact of the implementation of IFRS 9 so we took the charge outright. – Business Hallmark, page 28-29 (Centre Spread Interview)