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Fidelity Bank Plc has delivered strong financial results, posting a 94 percent growth in profits for the year ended December 31, 2017 boosted by its retail banking drive.
Savings Deposits grew by 15.2 percent to N178.6 billion, accounting for 23.0 percent of total deposits from 19.5 percent in the 2016 full year. This has improved the Bank’s low-cost deposits ratio to 77.0 percent of total deposits.
The bank has reiterated its commitment to deepening financial inclusion and growing retail banking Nigeria as Bartholomew Ekenechukwu Nnalue of Aba Shoe Plaza Branch of the bank emerges winner of the N10million grand prize in the ‘Get Alert in Million’ Promo reloaded.
The promo is the 7th savings promo the bank is running in the last 10 years to reward customers who operate savings account with Fidelity Bank.
Nnamdi Okonkwo, managing director/CEO Fidelity Bank Plc. in a statement said the successes recorded with the ‘Get Alert in Million’ Promo’ is a testament of the bank’s commitment to deepening the savings culture in Nigeria to further promote retail banking.
In the last ten years, this is the seventh draws we have done and the believability of it is how we have delivered on all our promises without exception; it’s been an exciting time for our customers. In all we have given N110 million and 108 consolation prizes; fridges, television and Generators to 185million winners,” said Okonkwo.
He however drops a hint about the 2017 results of the banks, which he suggested was boosted by the retail banking drive of Fidelity Bank. “Shortly we will be announcing our 2017 results, if you see the growth in our savings account; you will understand that our customers have been loyal and so all we could do is reward them the way we had,” Okonkwo stated.
Chijioke Ugochukwu, Executive Director, Share Services and Products, said cultivating a savings culture is a better way of getting on the financial ladder. “By the time customers are able to accumulate some money in terms of savings, they develop that culture, and then big dreams become a possibility. When you save money everybody is a winner; the gifts under this promo are added bonus – however when you cultivate a savings culture you are a winner,” she said.
Fidelity Bank has rewarded its loyal customers in the last 10 years to grow its retail-banking portfolio and promote financial inclusion in the Nigerian banking sector.
The ‘Get Alert in Million Promo’ was initiated to encourage many of the unbanked community to embracing the savings culture.
The bigger the size of the economy, the bigger the growth that will be recorded in the real sector of the economy, and the more people are able to cultivate a savings culture.
Consolation prizes of Refrigerators, Generators, and Television sets, were given as instant gifts to customers who open and maintain a savings account with N20,000 and above in the promo, while a total of N29 million was given out by the bank on the final day of the ‘Get Alert in Million Promo’ in the monthly and bi-monthly draws.
HOPE MOSES-ASHIKE
