Fidelity Bank demonstrates resilience despite challenges – MD

 FIDELITY Bank has demonstrated resilience in the face of considerable challenges, such as a fragile econ­omy, increasing loss provisions, and a changing regulatory envi­ronment, particularly the Domes­tic Debt Exchange Programme that has impacted the sector in recent years, Mr Julian Opuni, Managing Director of Fidelity Bank, has stated.

“After 2022, we have recorded consistent profits, a testament to our sound strategy, strong leader­ship, and a team that has shown grit and focus. While our 2024 audited financial report is yet to be published, I can confidently say that we have once again delivered outstanding performance,” he explained.

Speaking during an engage­ment session with the media in Accra, he said “Our total assets have grown, largely driven by increased customer deposits, and our revenue and profit levels con­tinue to exceed expectations.”

The bank’s non-performing loans ratio, he noted, remained well below the industry average.

On sustainability Mr Opuni said, “Through sustainable finance, we are empowering key sectors like agriculture, SMEs, and women entrepreneurs. Initiatives such as the Fidelity Young En­trepreneurs Initiative (FYEI), the Orange Corners Innovation Fund (in partnership with the Kingdom of the Netherlands), and our collaboration with the Master­card Foundation on the Bridge in agriculture programme which is driving significant impact.”

Specifically, he indicated, “in 2024, over GH¢427 million in loans to SMEs, which we estimate has supported over 35,000 jobs and added GH¢3.08 billion in value to the Ghanaian economy.”

“Last year, we launched the Fidelity Greentech Innovation Challenge (GTIC), and build­ing on its success, we will open applications for GTIC 2025 in the second quarter of this year. With GH¢700K in grants and up to GH¢1 million in concessionary loans, we are scaling support for youth-led innovation and sustain­able enterprises in the agriculture sector,” he elaborated.

The bank, he said, recognised the immense potential of Ghana’s creative economy.

To address systemic barriers and unlock new opportunities, Mr Opuni noted that the bank would be introducing Orange Inspire – Fidelity Bank’s Creative Fund.

This initiative, he mentioned, would provide targeted fund­ing, infrastructure support, and mentorship to empower young creatives and established brands in fashion, film, art, and digital content with funding ranging from GH¢450,000 for young creatives to GH¢1 million for established projects.

“Through a combination of grants and concessionary loans, we aim to fuel innovation and position Ghana’s creative sector for global success. Additionally, our recent landmark, MoU with the Design and Technology In­stitute will enhance our efforts to train, mentor, and fund emerging enterprises, reinforcing our com­mitment to sustainable economic development,” he outlined.

“In total, in 2024, we invested GH¢5.74 million in CSR initia­tives, directly benefiting over 26,000 individuals, with a focus on women’s empowerment. Our employee volunteering programme is thriving, with our staff contributing over 1,396 hours to community projects,” he indicated.

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