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Reclassified Best-performing Fidelity Bank From Small To Medium Price Stock, Scores Big in KPMG Customer Experience Survey

The Oasis Reporters

December 29, 2023








In what has been termed the crowning glory of a successful year, leading financial institution, Fidelity Bank Plc has been recognized for its devotion to providing exceptional customer experience.

According to the recently issued KPMG 2023 West Africa Banking Industry Customer Experience Survey, the bank recorded a marked improvement in its service delivery to customers from 2022 figures; moving from 13th to 5th position in Retail, 13th to 5th position in SME and 10th to 5th position in Corporate customer segment rankings.

An excerpt from the foreword in the report reads, “In Nigeria, the cash crunch that characterized the banking landscape and wider economy triggered significant downtimes and deterioration of banking service levels.

“At the time, there were concerns about the potential long-term impact on trust in the industry and the implications for financial inclusion.

However, our research does not suggest that this concern has not materialized to date. Instead, we observed a significant shift from ATMs to agency banking.”

It would be recalled that Fidelity Bank was celebrated by a broad section of Nigerians for ensuring its ATMs across the country were well stocked and available to meet customers and non-customers cash needs during the cash scarcity experienced in the country earlier in the year.

The news of the improvement in Fidelity Bank’s customer service rating comes to join a string of positive stories on the bank this year which demonstrate the management’s efficient use of resources.

These include the reclassification of Fidelity Bank Plc stock from small price stock to medium price stock, its emergence as the best-performing bank share as of half year (June 30) and the company with the highest earnings per share on the NGX based on half year financial figures for the second year running amongst others.

Dr. (Mrs) Nneka Onyeali-Ikpe, MD, Fidelity Bank PLC.

With the public eagerly anticipating the launch of the bank’s public offer and rights issue, the Nneka Onyeali-Ikpe-led institution is no doubt well poised to sustain and even increase investor confidence in the 35 year old institution well into the New Year and beyond.

The 2023 West Africa Banking Industry Customer Experience Survey report is available on the KPMG website.

Greg Abolo

Blogger at The Oasis Reporters.

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