Buhari Pre­sides over FEC, Os­in­bajo Takes Charge of ASUU Ne­go­ti­a­tions

Cab­i­net ap­proves $5.8bn for con­struc­tion of Mam­billa power plant

THISDAY - - FRONT PAGE - Omololu Abuja in Abuja

For the first time in five months, Pres­i­dent Muham­madu Buhari presided over the meet­ing of the Fed­eral Ex­ec­u­tive Coun­cil (FEC) yes­ter­day at the Pres­i­den­tial Villa, where he was greeted with a re­sound­ing ap­plause from min­is­ters as he walked into the cham­ber.

The meet­ing was the first to be presided over by the pres­i­dent since March, be­fore he pro­ceeded to Lon­don on May 7 for treat­ment of an undis­closed ail­ment.

cent in H1 2017, from 6.4 per cent (2016FY), just as growth in the yield on our earn­ing as­sets out­paced the in­crease in fund­ing costs.

“The process im­prove­ment and dig­i­tal banking ini­tia­tives in the pe­riod helped to op­ti­mise our cost pro­file, as to­tal ex­penses de­clined by 1.8 per cent (de­spite the high in­fla­tion­ary en­vi­ron­ment), lead­ing to a re­duc­tion in our cost to in­come ra­tio (CIR) to 67.3 per cent” he stated.

“Fidelity Bank’s re­tail strat­egy con­tin­ued to de­liver im­pres­sive re­sults in HI2017, as sav­ings de­posits, a mea­sure of cus­tomer con­fi­dence, in­creased by 3.9 per cent to N161.1 bil­lion in June 2017 on the strength of im­proved cross sell­ing of our dig­i­tal banking prod­ucts with about 30 per cent of cus­tomers now en­rolled on our flag­ship mo­bile (*770#) and in­ter­net banking prod­ucts” he added.

With a pres­ence in the ma­jor cities and com­mer­cial cen­ters in the coun­try, com­ple­mented by in­no­va­tive dig­i­tal banking prod­ucts and chan­nels, Fidelity Bank was rated as one of the top four banks in the re­tail seg­ment in the re­cently pub­lished KPMG BICSS.

The bank, which is man­aged by a highly pro­fes­sional team and a rep­utable board of direc­tors, com­menced the in­terim au­dit of its fi­nan­cials in 2017 in line with its em­pha­sis for con­tin­u­ous process and gov­er­nance im­prove­ment.

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