Fidelity Bank, which began operations in 1998 as a Merchant Bank, converted to a Commercial Bank in 1999 and became a Universal Bank in February 2001. The bank clinched the award of the Commercial Bank of the Year, at the Business Day Banks and other Financial Institutions (BAFTI Awards), in 2020.
Mrs. Nneka Onyeali-Ikpe, who has been an integral part of the management team in Fidelity bank for the past six (6) years, became the First Female Managing Director of the bank in January 2021. Onyeali-Ikpe is a force in the banking industry with over 30 years of experience in various financial institutions. The beautiful and brainy icon holds a Bachelor of Laws degree (LLB) from the University of Nigeria, Nsukka, a Master of Law degree (LLM) from Kings College London, as well as other Executive Training Programs at notable institutions, like the well-recognized Harvard Business School; The Wharton School University of Pennsylvania; Chicago Boot School of Business and London Business School.
The 52-year-old, Anambra State-born Onyeali-Ikpe, started her banking career as a legal officer with the outdated African Continental Bank in 1990 and has worked in other financial institutions like Standard Chartered Bank, Zenith Bank Plc, Enterprise Bank, etc, where she held several management positions in Legal, Treasury, Retail and Commercial Banking, Investment banking as well as corporate banking. This Amazon once received formal recommendation from the Asset Management Corporations of Nigeria (AMCON), as a member of the management team that successfully turned around Enterprise Bank Plc.Onyeali-Ikpe who was formerly the Executive Director, Lagos and South West Region and an integral part of the transformation team at Fidelity Bank, is working hard at consolidating the policies of her predecessor Mr. Nnamdi Okonkwo. In line with Fidelity Bank guidance for the 2021 financial year, the Managing Director said, “The bank has started the year 2021 on a good pedestal by ending the first quarter (Q1) with impressive double-digit growth in profitability and improved performance across key efficiency indices while ensuring the bank’s business model continued to deliver strong positive results”.
According to unaudited results released at the Nigerian Stock Exchange (NSE), profit before tax (PBT) grew by 53.9 percent from N6.6 billion in 2020 to N10.1 billion for the corresponding period of March 31, 2021. Similarly, net revenue in the period increased by 13.4 percent from N30.3 billion in the first quarter of 2020 to N34.4 billion in 2021. This is a good sign of great things to come for Fidelity Bank Plc, as Onyeali-Ikpe resides as the Managing Director of the Best SME friendly bank.
