The Punch

Fidelity Bank assures SMES of loan availabili­ty

- Dayo Adenubi

FIDELITY Bank has said it has loans available for Small and Medium enterprise­s and aims to drive financial inclusion through agency banking.

The Managing Director, Nneka Onyeali-ikpe, said this during a media briefing on Tuesday in Lagos as she revealed the bank’s plans for the country’s economy.

Onyeali-ikpe said, “We intend to build a centre for Smes free legal services in the event of going into any contract.

“We have loans for everybody, and we would also drive financial inclusion through our agency banking. We have advanced in technology and are adding more products to our platform. We encourage our customers to key into our digital process.”

She said despite the effects of the COVID-19 pandemic on the economy, new areas of growth were opened up to discerning investors.

She said Fidelity Bank would be focusing on doing business in the agricultur­e, healthcare, hospitals and diagnostic laboratory services, telecommun­ication, infrastruc­ture and technology sectors, especially fintech.

“We have seen growth in agricultur­e and we will continue to adequately explore the sector,” Onyeali-ikpe said.

She said her target was to drive the bank to Tier 1 status within the shortest possible time, adding that it was already targeting market share of 7.5 per cent with regard to deposit.

According to her, the bank has a seven-point agenda, and intends to embark on an innovation drive through the implementa­tion of new processes and techniques.

She said, “The bank is also executing fresh ideas to ensure continuous process improvemen­t, reduce cost to serve, increase competitiv­eness, improve brand recognitio­n and value, build new partnershi­ps and relationsh­ips, drive turnover, and increase profitabil­ity.

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