UBA Group's AWESOME 70TH ANNIVERSARY & CEO AWARD 2019

Ooni of Ife, Jide Sanwoolu, Tony Elumelu, Sarkin Shanum of Kano, Alhaji Shehu Mohammed, representing Emir of Kano & Jim Ovia 

Maiden Ibru

Ooni of Ife, Tony and Dr. Mrs Awele  Elumelu 

Babajide Olusola Sanwoolu & Aremo Segun Osoba

Tiwa Savage performing

Mo Abudu, Ruth Osime & Timi Alaibe 

Omotola Jalade Ekeinde & Ojy Okpe with other guests

Ronke Ademiluyi & Bola Awosika

Truth be told, the UBA Group sure knows how to organise a party. So amongst all the banks or better still financial institutions in Nigeria they need to get an award or even awards for always organizing the best parties, events, occasions ever.

With billionaire banker cum businessman, 'Tony Elumelu' as the 'Group Executive Chairman' and with Kennedy Uzoka, one of the highest paid CEOs in Nigeria, whose annual take home is N139 Million Naira as the Group CEO/GMD, the bank seem to be in good hands and great health. So at least once every year, after working so hard through the financial year, there comes that period, that time that's set apart by the Pan African financial institution, which has one of the most impressive spread across the country and outside, and a financial institution that's one of the top 10 biggest banks in Nigeria, to let off steam and those that makes all the magic happen to be well patted on their backs or shoulders in a convivial atmosphere.

The annual event, always packs a whole lot of major punch. With top entertainment brought in to add good vibe, first class guests invited mixing with the top staff members and other members of the group. It is always one of those events to look forward to yearly. So this 2019 edition didn't disappoint at all in all ramifications. Eko Hotel Convention Centre was the right spot picked as the venue. And the place was packed out as expected.

At least, we saw 2 of the incoming new Governors, though they are still Governor elects for now, till they are sworn in. Babajide Olusola Sanwoolu of Lagos and Prince Dapo Abiodun of Ogun state were very present. They are both gradually becoming the most visible Governor elects in Nigeria right now. 3 of the royal fathers in the house that came were none less than his imperial majesty, Oba Adeyeye Enitan Babatunde Ogunwusi Ojaja II, the Ooni Adimula of Ile-Ife, his royal majesty, Oba Rilwan Osuolale Akiolu, the Oba of Lagos and his royal majesty and a Northern royal father we couldn't readily identify.

Some of the other important guests seen were none other than the billionaire Executive Chairman of the biggest bank in Nigeria, Zenith Bank in the person of Mr. Jim Ovia, former Secretary General of the Commonwealth, Sir Emeka Anyaoku, Mrs Maiden Ibru, Pastor Tunde Bakare of the Latter Rain Assembly, Bashorun Dele Momodu Zof Ovation Group, Fidelity Bank MD/CEO, Nnamdi Okonkwo, Nova Merchant Bank, Executive Chairman, Phillip Oduoza, former 1st lady, Onari Duke, top Nigerian actress Omotola Jalade Ekeinde and very many more.

Entertainment was provided by such power house musicians and entertainers like Wizkid, Tiwa Savage, Phyno, Olamide & Patoranking.

More incredible pictures after the break.

Fidelity Bank’s 9 Months Profits Soar To N20bn, On Course to Deliver its 2018 Financial Targets.

Lagos Nigeria: October 25, 2018: Fidelity Bank Plc has posted an impressive financial performance for the 3rd Quarter of 2018 and is on course to finishing strong in the 2018 financial year. Details of the 9-months results for the period ended September 30, 2018, released yesterday at the Nigerian Stock Exchange (NSE) showed a double-digit growth in revenues and profitability.

Gross Earnings grew by 6.9% to N139.0 billion from N130.1 billion reported in the same period in 2017 whilst profit-before-tax soared by 23.6% from N16.2 billion to N20.1 billion.  In other indices, total assets grew by 21.9 % to N1,680.8 billion from N1,379.2 billion in the same period last year. Total deposits; a measure of customer confidence, increased by 27.3 % to close at N986.8 billion from N775.3 billion in 2017

We are delighted with our 9 months financial performance with the continuing execution of our medium-term strategy which has further yielded positive results, leading to impressive growth across key performance indices including profitability, total deposits and balance sheet size etc. said Fidelity Bank CEO, Mr. Nnamdi Okonkwo.

According to him the bank has continued to grow its market share driven by significant traction in its chosen business segments such as Corporate, Commercial, SME and digitally led Retail Banking. “Gross earnings increased y-o-y by 6.9 % to close at N139.0 billion primarily driven by the growth in earning assets by 19.2 % which led to a 9.1% increase in interest income to N120.4 billion”, he explained.

Over the years, Fidelity Bank has differentiated itself from its peers by continuously introducing customer – focused digital products to grow its market share and mobilize cheaper funds. Attesting to that, its savings deposits increased by 12.9% to N201.7 billion leading to the fifth consecutive year of double-digit savings growth whilst low cost deposits, now account for 73.6 % of total deposits as shown in the results.

The growth in deposits is further complemented by its digital banking push with has resulted in having over 40% of its customers enrolled on the mobile/internet banking products and recording over 80 % of total transactions on digital platforms.

Despite the high inflationary environment, the Bank’s expenses grew by 6.5% to N50.6 billion due to increased technology investment and higher AMCON Charges. Its cost to income ratio remained relatively stable at 68.4 % compared to 67.5% in the 2017FY. Non-performing Loans (NPLs) Ratio improved to 6.0 % from 6.4 percent in the 2017FY despite a 3.4 % growth in the absolute NPL numbers with the NPL coverage ratio at 109.9 percent. Other regulatory ratios remained above the required thresholds with Capital Adequacy Ratio (CAR) at 17.0 % and Liquidity Ratio at 38.3 %

Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over 4 million customers who are serviced across its 240 business offices and various digital banking channels. The bank is focused on select niche corporate banking sectors as well as Micro Small and Medium Enterprises (MSMEs).