Agusto & Co., a leading Pan-African credit rating agency, has reaffirmed the ‘A’ rating assigned to Fidelity Bank Plc, reflecting the bank’s strong financial performance and stability. Additionally, the agency has given Fidelity Bank an ESG (Environmental, Social, and Governance) score of ‘2,’ indicating that environmental, social, and governance issues have minimal impact on the bank’s credit rating.
In a statement on their website, Agusto & Co. cited Fidelity Bank’s improved profitability, robust ability to refinance, adequate capitalization, and low level of impaired credits as factors contributing to the bank’s favorable rating.
As a full-fledged commercial bank operating in Nigeria, Fidelity Bank serves over 7.5 million customers through its extensive network of 250 business offices and digital banking channels. The bank’s commitment to excellence has garnered recognition, as it was awarded the titles of “Best Payment Solutions Provider, Nigeria, 2023” and “Best SME Bank, Nigeria, 2022” by the Global Banking and Finance Awards.
Fidelity Bank’s commendable achievements have not gone unnoticed, as the bank has previously received awards for “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.
With its strong financial standing and recognition for its exceptional services, Fidelity Bank continues to be a trusted institution in Nigeria’s banking sector.
