Fidelity Bank Plc has announced a capital-raising initiative of N127.10 billion to enhance its market position and expand its international presence. This initiative was highlighted at an event held at the Nigerian Exchange Limited Headquarters in Lagos, with Managing Director Nneka Onyeali-Ikpe emphasizing the bank’s strategic growth plans.
The capital-raising exercise, which includes a public offer of 10 billion ordinary shares and a rights issue of 3.2 billion ordinary shares, aims to meet the new CBN capitalization requirements. Onyeali-Ikpe noted that the funds will support business expansion, technological transformation, and diversification through digitalization and new market opportunities.
Executive Director Stanley Amuchie stressed that the bank’s strong market positioning and focus on growth within and beyond Nigeria will drive its strategic objectives. The bank plans to expand its domestic and international footprint, capitalizing on opportunities in select African countries and enhancing service delivery through technological advancements.
Source: The Nation