The Management of Fidelity Bank Ghana has moved to allay fears among its customers regarding the stability of the bank amidst the ongoing economic challenges faced by financial institutions.
With a track record spanning over 18 years, the bank emphasized its commitment to professionalism, robust corporate governance, and risk management practices aimed at fostering liquidity and resilience against external shocks.
Addressing concerns of potential collapse, the bank categorically refuted speculations and affirmed its strong financial position and operational stability.
In an interview with Orange Business News following a meeting with journalists in Kumasi, Atta Yeboah Gyan, the Deputy Managing Director of the bank, noted the concerns arising from the collapse of several local banks in the past five years.
This has led to apprehension among customers of the remaining local banks.
Despite being founded by a Ghanaian, Mr. Gyan indicated that their bank is actively competing with international banks and currently holds the 5th position among the 23 banks operating in Ghana.
“We have done so by running the bank as a professional institution and also strengthening our corporate governance and risk management practices, and so we want to assure the general public that if you’re banking with Fidelity, there’s no cause for you to fear,” he said.
“The bank is strong, our capital base is strong, we are run by professionals, we are owned by Ghanaians who are not going anywhere, and so the public should be rest assured and continue to have the confidence that, we will work with them to support them to grow their businesses,” he added.
In a bid to further engage with the community, the bank has spent huge amounts of money on its Corporate Social Responsibility initiatives over the years, focusing on education, health, women empowerment, climate resilience, agriculture and support for SMEs.
Fidelity Bank’s commitment to community impact was underscored by Mr. Gyan, who emphasized the bank’s belief in driving positive change and improving lives in the areas it serves.
Despite facing challenges in 2022 due to a government-led debt restructuring plan, which resulted in a GH¢518 million loss, the bank rebounded in 2023 with a profit of GH¢1.17 billion.
This resurgence was attributed to the bank’s resilience, effective risk management practices, and digital innovation at the core of its strategic approach.
With over 80 branches nationwide, Fidelity Bank Ghana has solidified its position as a key financial institution, dedicated to supporting its customers and contributing to the communities it operates in.
