Fidelity Bank Plc has demonstrated its financial resilience in response to the Central Bank of Nigeria’s (CBN) recent regulatory forbearance measures regarding Single Obligor Limits (SOL) and various credit facilities. In a statement released on the Nigerian Exchange (NGX) Disclosures Portal, the bank reassured stakeholders of its adherence to CBN directives, highlighting its robust capital position and proactive risk management strategies.
The forbearance measures specifically affect two obligors under SOL and four other credit facilities. The bank expressed optimism that these exposures would either be fully provisioned or return to performing status by June 30, 2025, ensuring that all forbearance arrangements will conclude in the first half of the year.
In terms of capital strength, Fidelity Bank reported a successful Public Offer and Rights Issue, which collectively raised ₦273 billion, with oversubscriptions of 237.92% and 137.73%, respectively. Additionally, the bank plans to secure an extra ₦200 billion through a Private Placement in 2025, in line with the new minimum regulatory capital requirement of ₦500 billion for banks with international authorization.
Fidelity Bank noted, “With the approval of the CBN and shareholders secured, alongside the nearing completion of ongoing regulatory processes, we are well-positioned to meet current requirements and continue our dividend payments.” The bank expressed appreciation to its investors, customers, and stakeholders for their unwavering confidence and reaffirmed its dedication to maintaining financial stability and prudent risk management.
