Mr. Nnamdi Okonkwo, Managing Director/Chief Executive Officer (MD/CEO) of Fidelity Bank Plc, retires from the Board of Directors of the Bank with effect from December 31, 2020, upon completion of his contract tenure.
In compliance with the succession policy of the Bank, the Board has approved the appointment of Mrs. Nneka Onyeali -Ikpe, current Executive Director, Lagos and South West Directorate as the MD/CEO Designate of the Bank, to assume office with effect from January 1, 2021. The approval of the Central Bank of Nigeria has been obtained for the appointment.
The Board has also approved the appointment of Mr. Kevin Ugwuoke, current Chief Risk Officer of the Bank, as Executive Director/Chief Risk Officer, subject to the approval of the Central Bank of Nigeria.
Nnamdi Okonkwo was appointed to the Board of Fidelity Bank in April 2012 as an Executive Director and was subsequently appointed the MD/CEO on January 01, 2014. He implemented a Digital-led Strategy which led to significant growth across key performance metrics and increased market share, with the Bank currently ranked 6th amongst Nigerian Banks on most performance indices. Some of his key achievements are:
§ PBT growth of 236% from N9.0bn to N30.4bn. – RoE increase from 5.5% to 13.3%. – Customer Deposits growth of 68% from N806.3bn to N1,352.3bn. – Savings Deposit growth of 275% from N83.3bn to N312.1bn.
§ Net Loans and Advances growth of 174% from N426.1bn to N1,165.8bn.
§ Customer Base increase of 121% from 2.4 million to 5.3 million.
§ Digital Banking penetration improvement from 1.0% to 50.1% and now accounts for 28.4% of total fee income.
In addition, the Bank successfully accessed the local and international markets through the issuance of N30bn Corporate Bonds in 2015 and $400million Eurobonds in 2017.
