Recent report has revealed that Fidelity Bank is making moves to purchase five commercial banks accross the continent after acquisition of the London unit of the rival Union Bank of Nigeria Plc.
This was based on the recent target set for new growth by the Chief Executive Officer of Fidelity bank Ceo, Mrs. Nneka Onyeali-Ikpe which she disclosed while speaking to Bloomberg.
It was noted that, the 35 years old institution, Fidelity bank which is recognised as the sixth largest lender in Nigeria with assets worth of N4trillion is currently negotiating the purchase of five other banks accross the continent with the expectation of concluding the business by this 2023.
Onyeali-Ikpe made a strong remark on plans during in her statement but did not mention any bank instead indicated its interest on banks withing West, East and Southern Africa.
She said, “The strategy is for us to move footprint outside Nigeria and be able to compete favorably with our peers.
“In the next three years, we should be in six countries by doing at least two every year.”
“We are committed to expanding our operations and reaching more customers across Africa.
“We believe that there is a significant opportunity for growth in the African market, and we are committed to capitalizing on this”.