Fidelity bank records over N100bn savings deposits in 2017
News & Trends •
by racheal ishaya6 the banks gross earnings increased by 18.3 per cent from n152 billion to n179.9 billion and profit after tax grew by 93.7 per cent from n9.7 billion to n18.9 billion1 balarabe who said this at the final draw of fidelity banks get alert in millions promo in abuja on wednesday said the feat was made possible due to the implementation of financial inclusion strategy adopted by the bank1 he said that through the promo the banks customer base increased in 2017 leading to the triple digit growth in savings deposits1 savings is a very important culture that is critical for the economy and the individual1 on a personal level you should save for a rainy day and also to bring into fruition that business you have always dreamt about1 as a bank promoting savings culture has also been very profitable for us1 we have grown our savings deposit tremendously. in the past one year we have grown by over n100 billion and that is a major feat for us he said1 balarabe said fidelity bank had given out n110 million to 185 customers through its get alert in a million promo which commenced in oct. 2017 and ended in may1 mr mohammed balarabe the deputy managing director of fidelity bank plc said the bank recorded an increase of over n100 billion in the banks savings deposit account in 20171 ms nwasike chidera and ms augustine nkiru won n3 million each from the bi-monthly draws for the south east and south-south respectively1 similarly ms imoedemhe osi and jennifer nnanna from south-south and south east won n2 million each1 nnalue the star prize winner said he would invest the n10 million in his hide and skin business in aba1 meanwhile mr malachi oahimire of the national lottery commission said the commission monitored the selection process and the winners were indeed randomly selected in accordance to lay down rules1 fidelity bank has given out over n355 million to its loyal customers since 2007 while many others have won houses scholarships electronics and other consolation prices1 the bank in its 2017 audited report filed with the nigerian stock exchange nse reported a 94 per cent growth in profit for the year ended dec. 31 20171 this followed the banks return to the international capital market and successful issuance of a 400 million dollars eurobond that was over-subscribed by over 200 per cent1 the news agency of nigeria nan reports that an aba-based entrepreneur mr batholomew nnalue won the n10 million star prize of the promo1