Fi­delity Bank dis­burses N59bn to start-ups, gets awards

The Punch - - MONEY -

FI­DELITY Bank Plc, has been recog­nised for its ef­forts at grow­ing the econ­omy, par­tic­u­larly in sup­port­ing the real sec­tor.

It stated that it had dis­bursed N50bn for farm start-up, ex­pan­sion and con­sol­i­da­tion, among oth­ers.

A state­ment said the bank re­ceived two awards at the 11th an­nual Bankers’ Com­mit­tee re­treat at ogere, ogun State re­cently.

It stated that the awards were be­stowed on the bank for its lead­er­ship role in the on­go­ing ef­forts to strengthen Nige­ria’s agri­cul­tural value-chain as well as its com­mit­ment to pro­mot­ing women eco­nomic em­pow­er­ment.

or­gan­ised by the Cen­tral Bank of Nige­ria, the two­day re­treat was themed ‘De­liv­er­ing in­clu­sive growth: lever­ag­ing dig­i­tal fi­nance,’ and was at­tended by chief ex­ec­u­tives of com­mer­cial banks and other stake­hold­ers in the fi­nan­cial ser­vices in­dus­try, to ar­tic­u­late and strate­gise on ini­tia­tives for eco­nomic de­vel­op­ment and spe­cific growth im­per­a­tives of the fi­nan­cial sys­tem.

“The bank emerged win­ner in two cat­e­gories, se­cur­ing sec­ond place in the ‘Sus­tain­able Agri­cul­tural Trans­ac­tion of the Year Award,’ and third po­si­tion as the ‘Best Bank in 2019 in Women Eco­nomic Em­pow­er­ment,” it stated.

Fi­delity Bank won the award on Sus­tain­able Agri­cul­tural Trans­ac­tion, for its com­pli­ance with the sus­tain­able bank­ing principles as man­dated by the reg­u­la­tor of the fi­nan­cial ser­vices in­dus­try.

The bank stated that its sus­tained fo­cus on eco­nomic em­pow­er­ment and SME fund­ing, which led to its in­creased sup­port for fe­male busi­nesses, made it to win the award on Women Eco­nomic Em­pow­er­ment.

The Deputy Gov­er­nor, Eco­nomic Pol­icy, CBN, Dr. Joseph Nnanna, pre­sented the awards to the Man­ag­ing Di­rec­tor/chief Ex­ec­u­tive Of­fi­cer, Fi­delity Bank Plc, Nnamdi okonkwo.

okonkwo, who at­trib­uted the awards to the sup­port of the board, man­age­ment and en­tire staff of the bank, said that the ini­tia­tives be­ing im­ple­mented by the lender, par­tic­u­larly as it re­lated to grow­ing the agri­cul­ture and nonoil ex­ports sec­tor were yield­ing the de­sired re­sult, hence this recog­ni­tion.

He stated that the lender had pro­vided fi­nance in ex­cess of N50bn for farm start-up, ex­pan­sion and con­sol­i­da­tion, among oth­ers. Ac­cord­ing to him, Fi­delity re­mained one of the lead­ing dis­burse­ment banks of the CBN Com­mer­cial Agric. Credit Scheme.

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