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FIDELITY BANK PLC
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
Fidelity Bank Plc
Annual Reports and Financial Statements
For the year ended 31 December 2023
Table of contents
Note | Contents | Page | Note | Page | |
Directors' report | 2 | 19 | Cash and cash equivalents | 118 | |
Statement of directors' responsibilities in relation to the | |||||
preparation of the financial statements | 12 | 20 | Restricted balances with central bank | 121 | |
Statutory audit committee's report | 13 | 21 | Goodwill | 121 | |
Statement Of Corporate Responsibility For The Preparation | |||||
Of The Financial Statements | 14 | 22 | Loans and advances to customers | 121 | |
Corporate governance report | 15 | 23 | Derivative financial instrument | 128 | |
Independent auditor's report | 40 | 24 | Investment Securities | 128 | |
Consolidated and Separate Statement of Profit or Loss and | |||||
Other Comprehensive Income | 45 | 25 | Property, Plant and Equipment | 135 | |
Consolidated and Separate Statement of Financial Position | 46 | 26 | Right of Use Asset | 137 | |
Consolidated and Separate Statement of Changes in Equity | 47 | 27 | Intangible assets | 137 | |
Consolidated and Separate Statement of Cash Flow | 49 | 28 | Deferred taxation | 137 | |
1 | Notes to the Financial Statements | 50 | 29 | Other assets | 138 |
2 | Corporate information | 50 | 30 | Deposit from customers | 139 |
2 | Summary of significant accounting policies | 50 | 31 | Other liabilities | 139 |
Financial risk management and fair value measurement | |||||
3 | and disclosure | 75 | 32 | Provisions | 141 |
4 | Capital management | 107 | 33 | Debts issued and Other borrowed funds | 145 |
5 | Segment analysis | 108 | 34 | Share capital | 145 |
6 | Interest and similar income | 111 | 35 | Other equity accounts | 145 |
7 | Interest and similar expense | 111 | 36 | Cash flow from operations | 147 |
8 | Credit loss expense | 111 | 37 | Contingent liabilities and commitments | 149 |
9 | Net fee and commission income | 113 | 38 | Related party transactions | 150 |
10 | Derecognition loss on financial asset | 115 | 39 | Employees | 153 |
11 | Other operating income | 115 | 40 | Directors' emoluments | 153 |
Net gains/(losses) from financial instruments classified as | |||||
12 | held for trading through profit and loss | 115 | 41 | Compliance with banking regulations | 154 |
13 | Personnel expenses | 116 | 42 | Gender diversity | 155 |
14 | Depreciation and amortisation | 116 | 43 | Statement of prudential adjustments | 155 |
15 | Other operating expenses | 116 | 44 | Maturity analysis of assets and liabilities | 156 |
16 | Taxation | 117 | 47 | Events after the reporting period | 158 |
Net reclassification adjustments for realised net gains/ | |||||
17 | (losses) | 118 | Value Added Statement | 159 | |
18 | Earnings per share | 118 | Five-year financial summary | 161 |
2
Fidelity Bank Plc
Annual Reports and Financial Statements
For the year ended 31 December 2023
Directors' Report
The Directors of Fidelity Bank Plc (the Bank/Company) are pleased to submit their report on the affairs of the Bank and its subsidiary (the Group), together with the Group Audited Financial Statements and External Auditor's Report for the financial year ended 31 December 2023.
1 RESULTS
Highlights of the Group's operating results for the financial year ended December 31, 2023 are as follows:
` | Group | Group | Bank | Bank | |
31 December | 31 December | 31 December | 31 December | ||
2023 | 2022 | 2023 | 2022 | ||
N'million | N'million | N'million | N'million | ||
Profit before income tax | 124,260 | 53,677 | 124,338 | 53,677 | |
Income tax expense | (24,806) | (6,953) | (24,806) | (6,953) | |
Profit after income tax | 99,454 | 46,724 | 99,532 | 46,724 | |
Earnings per share | |||||
Basic and diluted (in kobo) | 311 | 161 | 311 | 161 |
DIVIDEND
The Board of Directors of the Group, pursuant to the provisions of Section 379 of the Companies and Allied Matters Act (CAMA) 2020, propose a final dividend of N0.60k per share (31 December 2022: N0.50k per share) for the 2023 financial year. The proposed final dividend of N0.60k per share and interim dividend of N0.25k per share paid on September 22, 2023, brings the total dividend for 2023 to N0.85k per Ordinary Share to be paid from the retained earnings account as at 31 December 2023.
The proposed dividend will be presented for shareholders' approval at the Bank's 36th Annual General Meeting. If approved, the proposed dividend will be paid net of withholding tax at the applicable tax rate.
-
LEGAL FORM
The Bank was incorporated on 19 November 1987 as a private limited liability company in Nigeria. It obtained a merchant banking license on 31 December 1987 and commenced banking operations on 3 June 1988. The Bank converted to a commercial bank on 16 July 1999 and re-registered as a public limited company on 10 August 1999. The Bank's shares were listed on the floor of the Nigerian Stock Exchange (now Nigerian Exchange Group) on 17 May 2005. - PRINCIPAL BUSINESS ACTIVITIES
The principal activity of the Bank continues to be the provision of banking and other financial services to corporate and individual customers from its Headquarters in Lagos and 250 business offices. These services include retail banking, granting of loans and advances, equipment leasing, collection of deposits and money market activities.
The Bank has one wholly owned subsidiary, Fidelity Bank UK Limited (former Union Bank UK Plc) which was acquired in 2023. The financial result of the subsidiary has been consolidated into these financial statements.
2
Fidelity Bank Plc
Annual Reports and Financial Statements
For the year ended 31 December 2023
Directors' Report- continued
For the year ended 31 December 2023
-
BENEFICIAL OWNERSHIP
The Bank's shares are held largely by Nigerian citizens and corporations. - SHARE CAPITAL
The range of shareholding as at December 31, 2023 is as follows:
No. of | ||||||
Range | Holders | Holders% | Holders Cum | Units | Units % | |
1 | 1,000 | 96,457 | 24.29% | 96,457 | 80,062,687 | 0.25% |
1,001 | 5,000 | 170,140 | 42.85% | 266,597 | 467,487,599 | 1.46% |
5,001 | 10,000 | 51,326 | 12.93% | 317,923 | 420,968,085 | 1.32% |
10,001 | 50,000 | 56,866 | 14.32% | 374,789 | 1,349,776,549 | 4.22% |
50,001 | 100,000 | 10,391 | 2.62% | 385,180 | 808,049,299 | 2.53% |
100,001 | 500,000 | 9,120 | 2.30% | 394,300 | 1,967,600,677 | 6.15% |
500,001 | 1,000,000 | 1,365 | 0.34% | 395,665 | 1,007,047,371 | 3.15% |
1,000,001 | 5,000,000 | 1,006 | 0.25% | 396,671 | 2,090,730,371 | 6.53% |
5,000,001 | 10,000,000 | 141 | 0.04% | 396,812 | 1,038,421,862 | 3.25% |
10,000,001 | 50,000,000 | 160 | 0.04% | 396,972 | 3,261,807,799 | 10.19% |
50,000,001 | 100,000,000 | 27 | 0.01% | 396,999 | 1,936,048,928 | 6.05% |
100,000,001 | 32,000,000,000 | 53 | 0.01% | 397,052 | 17,571,998,773 | 54.91% |
GRAND TOTAL | 397,052 | 100% | 32,000,000,000 | 100% |
Substantial interest in shares
The Bank's shares are widely held and according to the Register of Members, no single shareholder held up to 5% of the issued share capital of the Bank during the year ended 31 December 2023.
3
Fidelity Bank Plc
Annual Reports and Financial Statements
For the year ended 31 December 2023
Directors' Report- continued
For the year ended 31 December 2023
6 Changes on the Board and Directors Interest
(a)Changes on the Board
The following change occurred on the Board after the 35th Annual General Meeting, which held on May 23, 2023.
Board Changes | |
1 | Mr. Hassan Imam, former Executive Director North, retired from the Board with effect from January 10, 2024, sequel to his |
appointment as the MD/CEO of another financial institution by the Central Bank of Nigeria. | |
The Board uses this medium to express its sincere appreciation to Mr. Hassan Imam for his meritorious service to the Bank spanning over twenty-six years including his tenure on the Board as an Executive Director.
(b)Directors Who Held Office During the Review Period:
The Directors who held office during the year ended 31 December 2023 together with their interest in the issued share capital of the Bank as recorded in the Register of Directors' Shareholding and as notified by the Directors for the purpose of Sections 301 and 302 of the Companies and Allied Matters Act (CAMA), 2020 and the listing requirements of the Nigerian Exchange Group (NGX) are detailed below:
31 December 2023 | 31 December 2022 | ||||||||
NAME OF | STATUS | DIRECT | INDIRECT | TOTAL | DIRECT | INDIRECT | TOTAL | ||
DIRECTOR | |||||||||
Units | Units | Units | Units | Units | Units | ||||
Mr. Mustafa | Chairman, Non- | ||||||||
Executive | 39,516,294 | NIL | 39,516,294 | 39,516,294 | NIL | 39,516,294 | |||
Chike-Obi | |||||||||
Director | |||||||||
Independent | |||||||||
Alhaji Isa Inuwa | Non-Executive | Nil | NIL | Nil | Nil | NIL | Nil | ||
Director | |||||||||
Engr. Henry | Independent | ||||||||
Non-Executive | Nil | NIL | Nil | Nil | NIL | Nil | |||
Obih | |||||||||
Director | |||||||||
Mr. Chidi | Non-Executive | 1,724,276 | NIL | 1,724,276 | 1,724,276 | NIL | 1,724,276 | ||
Agbapu | Director | ||||||||
Chief Nelson C. | Non-Executive | 71,847,773 | NIL | 71,847,773 | 71,847,773 | NIL | 71,847,773 | ||
Nweke | Director | ||||||||
Mr. Chinedu | Non-Executive | 1,040,000 | NIL | 1,040,000 | 1,040,000 | NIL | 1,040,000 | ||
Okeke | Director | ||||||||
Mrs. Amaka | Non-Executive | 4,404,700 | NIL | 4,404,700 | 4,404,700 | NIL | 4,404,700 | ||
Onwughalu | Director | ||||||||
Mrs. Ronke | Independent | ||||||||
Non-Executive | Nil | NIL | Nil | Nil | NIL | Nil | |||
Bammeke | |||||||||
Director | |||||||||
Mrs. Nneka | Managing | 69,644,260 | NIL | 69,644,260 | 69,644,260 | NIL | 69,644,260 | ||
Onyeali-Ikpe | Director/CEO | ||||||||
* Mr. Hassan | Executive | 41,252,468 | NIL | 41,252,468 | 41,252,468 | NIL | 41,252,468 | ||
Imam | Director | ||||||||
Mr. Kevin | Executive | 39,123,921 | NIL | 39,123,921 | 39,123,921 | NIL | 39,123,921 | ||
Ugwuoke | Director | ||||||||
Dr. Ken Opara | Executive | 32,192,832 | NIL | 32,192,832 | 32,192,832 | NIL | 32,192,832 | ||
Director | |||||||||
Mr. Stanley | Executive | 15,727,272 | NIL | 15,727,272 | 3,000,000 | NIL | 3,000,000 | ||
Amuchie | Director | ||||||||
Mrs. Pamela | Executive | 12,727,272 | NIL | 12,727,272 | NIL | NIL | NIL | ||
Shodipo | Director | ||||||||
**Retired with effect from January 10, 2024.
4
Fidelity Bank Plc
Annual Reports and Financial Statements
For the year ended 31 December 2023
Directors' Report- continued
Directors interest in Contracts:
The Directors' interests in related party transactions as stated in Note 38. to the financial statements were conducted at arm's length and disclosed to
the Board of Directors in compliance with Section 303 of the Companies and Allied Matters Act, 2020.
Disclosure on Directors' Remuneration
The disclosure on Directors' Remuneration is made pursuant to the Governance Codes and Regulations issued by the Central Bank of Nigeria, Nigerian Exchange Group, the Securities and Exchange Commission and the Financial Reporting Council of Nigeria.
The Bank has a formal Board Remuneration Policy, which is consistent with its size and scope of operations. The Policy focuses on ensuring sound corporate governance practices as well as sustained and long-term value creation for Shareholders. The policy aims to achieve the following amongst others:
a. Motivate the Directors to promote the right balance between short and long-term growth objectives of the Bank while maximizing Shareholders' returns.
- Enable the Bank attract and retain Directors with integrity, competence, experience and skills to execute the Bank's strategy;
- Promote compliance with global regulatory trends and governance requirements, with emphasis on long-term sustainability;
- Align individual rewards with the Bank's performance, the interests of Shareholders, and a prudent approach to risk management;
-
Ensure that remuneration arrangements are equitable, transparent, well communicated, easily understood, aligned with the interest of Shareholders and adequately disclosed.
Executive Directors' Remuneration:
Executive remuneration at Fidelity Bank is structured to provide a solid basis for succession planning and to attract, retain and motivate the right caliber of staff to ensure achievement of the Bank's business objectives.
The Board sets operational targets consisting of a number of Key Performance Indicators (KPIs) covering both financial and non-financial measures of performance for the Executives at the beginning of each year. Executive compensation is therefore tied to specific deliverables on a fixed pay basis. Fixed pay includes basic salary, transport, housing and other allowances.
The Board Corporate Governance Committee (a Committee comprised of only Non-Executive Directors) makes recommendations to the Board on all matters relating to Directors' remuneration. The Executive Directors are not involved in decisions on their own remuneration. Please see the table below for the key elements of Executive Directors' remuneration arrangements:
5
Fidelity Bank Plc
Annual Reports and Financial Statements
For the year ended 31 December 2023
Directors' Report- continued
Remuneration | |||
element | Objective | Payment mode | Payment detail |
Base Pay: This is a fixed pay (guaranteed cash) which is not dependent on performance. It comprises basic salary and all cash allowances paid to the Executive Director.
Reviewed every 2 years and | ||||
changes made on need basis | ||||
and market findings | ||||
Base Pay | · To attract and retain talent in a competitive | · | Monthly | |
market | Salaries for all roles are | |||
determined with reference to | ||||
applicable relevant market | ||||
practices | ||||
Remuneration | Objective | Payment Mode | Programme Detail | |
Element | ||||
Performance Incentives: This represents the pay-at-risk i.e. pay contingent on the achievement of agreed key | ||||
performance indicators. | ||||
Performance incentives are | ||||
· To motivate and reward the delivery of | · | Annually | awarded based on the | |
annual goals at the Bank and individual levels | performance of the Bank and | |||
individual directors | ||||
Performance | ||||
Executive Directors' annual | ||||
Incentive | · | Annually | ||
performance incentives are | ||||
· Rewards contribution to the long-term | evaluated against the | |||
performance of the Bank | performance metrics defined in | |||
his/her approved individual | ||||
balanced scorecard/KPIs | ||||
Benefits and Perquisites: These are the non-monetary compensation provided to the Executive Directors such as official car, club and professional membership subscription.
• Actual items are | |||
Benefits & | • Reflect market value of individuals and their | provided or the cash | Review periodically in line with |
Perquisites | role within the Bank | equivalent for one | contract of employment |
year is given. | |||
*Review of the various remuneration elements means re-appraisal to ensure they are competitive and reflective of industry expectations. They do not necessarily refer to an increment or reduction in the value of the benefits
Non-Executive Directors Remuneration:
Non-Executive Directors' remuneration is structured to conform to prevailing regulations and is set at a level that is at par with market developments, reflects their qualifications, the contributions required and the extent of their responsibilities and liabilities.
Non-Executive Directors are paid an annual fee in addition to reimbursable expenses (travel and hotel expenses) incurred whilst executing their role as Board members, where not provided directly by the Bank. The annual fee is approved by Shareholders at the Annual General Meeting and is paid quarterly in arrears, with subsequent changes subject to Shareholders approval.
They also receive a sitting allowance for each meeting attended by them but do not receive any performance incentive payments.
Please see the table below for the key elements of Non-Executive Directors' remuneration arrangements:
6
Fidelity Bank Plc
Annual Reports and Financial Statements
For the year ended 31 December 2023
Directors' Report - continued
Remuneration | Objective | Payment Mode | Programme |
Element | Detail | ||
•Reviewed every 2 years or as | |||
· To attract individuals with relevant skills, | appropriate and changes made | ||
Annual Fees | knowledge and experience. | · Quarterly | on need basis subject to |
Shareholders' approval at the | |||
Annual General Meeting. | |||
•Reviewed every 2 years or as | |||
Sitting | · To recognise the responsibilities of the Non- | appropriate and changes made | |
· Per meeting | on need basis subject to | ||
Allowances | Executive Directors. | Shareholders' approval at the | |
Annual General Meeting. | |||
· To encourage attendance and participation | |||
at designated committees assigned to them. | |||
- Review of the various remuneration elements means the re-appraisal of the elements to ensure that they are competitive and reflective of industry expectations. They do not necessarily refer to an increment or reduction in the value of the benefits.
The Board periodically benchmarks its remuneration practices against peer organizations whose business profiles are similar to that of the Bank and makes changes as appropriate.
The remuneration paid to the Directors in the period 30 June 2023 is disclosed in Note 38 of the Financial Statements.
-
EVENTS AFTER THE REPORTING PERIOD
The Bank is on a strong growth trajectory and requires additional capital for increased profitability, expansion (domestic and international) and enhancement of its digital capabilities. See note 47 - PROPERTY, PLANT AND EQUIPMENT
Information relating to property, plant and equipment is provided in Note 25 to the financial statements. In the Directors' opinion, the fair value of the
Bank's properties is not less than the carrying value shown in the financial statements. - DONATIONS AND CHARITABLE CONTRIBUTIONS
Donations and gifts to charitable organizations during the year ended 31 December ,2023 amounted to N819,820,447.75 ( 31 December 2022 - N107,834,208.16). There were no donations to political organizations during the year. .
The beneficiaries were:
7
Fidelity Bank Plc
Annual Reports and Financial Statements | |||||
For the year ended 31 December 2023 | |||||
Directors' Report - continued | |||||
REQUESTING/BENEFICIARY ORGANISATION | DONATION | AMOUNT (N) | |||
1 | Our Lady of Perpetual Help Catholic Church, | Donation of Household Items | 6,015,700 | ||
2 | Ornament Productions, Lagos | Sponsorship of the Witness Stage Play | 5,000,000 | ||
3 | Misnoory Foundation, Kano | Sponsorship of their Ramadan Feeding program | 10,000,000 | ||
4 | Unusual Praise, Lagos | Sponsorship of Unusual Entrepreneurs 2023 | 10,000,000 | ||
5 | ICC Conference Sponsorship, Lagos | Sponsorship of the 7th ICC Conference | 2,940,000 | ||
6 | Healthy Heart Foundation, Lagos | Sponsorship of Heart Surgeries (Congenital Cardiac Problems) for | 5,000,000 | ||
7 | Nigerian Conservation Foundation, Lagos | Sponsorship of Walk for Nature Event | 1,500,000 | ||
8 | Our Lady of Perpetual Help Catholic Church, | Donation towards an Infrastructural project | 5,000,000 | ||
9 | Asma'u Dambatta Foundation, Kano | Donation of CSR Educational Materials | 16,000,000 | ||
10 | University of Jos, Plateau State | Renovation and donation of equipment of UNIJOS School | 9,958,640 | ||
11 | Nigerian Immigration Services, Lagos | Refurbishment of Jack Vehicle | 1,666,250 | ||
12 | Steam Empowerment Foundation (SEF), Lagos | Train a Girl Child initiative (Donation of computer systems, printer and | 1,500,000 | ||
13 | Onitolo Community Junior High School, Lagos | Donation of 100 School Bags, 100 water bottles, 100 exercise books | 444,000 | ||
14 | Owerri Girls Junior Secondary School, Owerri, | Renovation of JSS1 School Block and donation of food items | 2,600,000 | ||
15 | Holy Family Home for the Elderly, Lagos | Provision of care items for the elderly | 1,141,758 | ||
16 | Mary's Perpetual Help Foundation, Lagos | Provision of food items for an orphanage and beneficiaries | 500,000 | ||
17 | Ikenegbu Girls Secondary School, Owerri, Imo | Provision of equipment for biology, chemistry and physics lab | 1,370,000 | ||
18 | Nigerian Correctional Service | Medical Outreach | 780,000 | ||
19 | Classic FM, Lagos | Sponsoring a poetry competition for kids | 200,000 | ||
20 | Girls Senior Secondary Grammar School/Boys | Donation of 3 Giant Dustbins for Recycling | |||
Senior Academy Obalende, Lagos | 400,000 | ||||
21 | St Patrick's Speech and Language Center, Lagos | Donation of a N1m cheque and food items to the kids | 1,284,000 | ||
22 | Deprived Communities across the Country | Distribution of 24,000 Fidelity Food Bank Packs to communities in Dire | 130,000,000 | ||
23 | Lagos Business School, Lagos | Sponsorship of Alumni Association Presidential Dinner | 2,000,000 | ||
24 | Chartered Institute of Stock Brokers, Lagos | Sponsorship of the 2023 National Workshop of the Chartered Institute | 15,000,000 | ||
25 | Dr. Chinyere | Sponsorship of a Book Launch titled "The Future-Focused Female | 500,000 | ||
26 | Misnoory Foundation, Kano | Donation to five special needs Schools in Kano | 20,000,000 | ||
27 | Federal Govt Girls College (FCCG) Calabar, Old | Infrastructural project at FGGC, Calabar | 2,000,000 | ||
28 | Columbia African, New York, USA | Sponsorship of Columbia Africa Conference | 11,380,000 | ||
29 | Federal Govt Girls College (FCCG) Owerri, Old | Water project at FGGC, Owerri, Imo State | 15,000,000 | ||
30 | Nnokwa Progress Union, Anambra State | Security and water projects at Nnokwa Community | 5,000,000 | ||
31 | St Kevin Catholic Church, Ichida, Anambra | Support for community outreach | 20,000,000 | ||
32 | Christmas Outreach Initiative, Lagos | Support for Festive outreach | 2,000,000 | ||
33 | Anambra Anglican Fellowship, Lagos | Support for community development | 1,000,000 | ||
34 | Catholic Church of Transfiguration, Lagos | Community Development | 1,000,000 | ||
35 | Chartered Institute of Bankers of Nigeria | Sponsorship of Bankers Night Raffle draw | 2,000,000 | ||
36 | OKHMA Global Limited, Lagos | Sponsorship of Calabar carnival 2023 | 20,000,000 | ||
37 | Holy Cross Cathedral, Lagos | Community Development | 4,000,000 | ||
38 | Ikoyi Club, Lagos | Sponsorship of the 48th Ikoyi Club Golf Ladies Open | 5,000,000 | ||
39 | Anambra Investment Summit, Anambra | Sponsorship of Anambra Investment Summit | 20,000,000 | ||
40 | Our Lady of Perpetual Help Catholic Church, | Community Development | 3,500,000 | ||
41 | Market Impact Church, Lagos | Sponsorship of Youth Empowerment Conference | 3,901,000 | ||
42 | Growthbow Solutions Ltd, Lagos | Sponsorship of AfroJazz Festival | 2,000,000 | ||
43 | Army Children's Model Primary School, Port | Donation of 160 School Bags, 160 water bottles, 200 exercise books | 1,112,000 | ||
44 | Garba Noma Primary School, Bauchi State | 3 Blocks of Classrooms (3 classrooms each), 500 uniforms and 200 new | 18,935,600 | ||
45 | Federal University of Kashare, Gombe State | Installation of 15kva Inverter, Solar Panels and Deep Cycle Batteries to | 9,938,500 | ||
46 | Community School, Itowolo, Ikorodu, Lagos | Provision of Educational to economically disadvantaged school | 760,000 | ||
47 | Apostolic Church Grammar School, Kosofe | Donation of 4 Giant Dustbins for Recycling | |||
Senior High, Orisigun Primary School & | |||||
Ajegunle Junior High, Lagos | 620,000 | ||||
48 | Somolu Senior High School (Somolu, Lagos), | Donation of 4 Giant Dustbins for Recycling | |||
Agnus Memorial Senior High School (Somolu, | 632,000 | ||||
49 | Internally Displaced Persons at at Mangu and | Provision of relief materials | |||
Barkin Ladi IDP camps, Jos, Plateau State | 10,000,000 | ||||
50 | Open Arms Orphanage Home, Isolo, Lagos | Donation of Food items and educational materials | 410,000 | ||
51 | DBenevolent Care Orphanage, Port Harcourt, | Donation of Food and other essential items t | 420,000 | ||
52 | Isolo General Hospital, Isolo, Lagos | Donation of branded bedsheets and beds to the children and mothers | 400,000 | ||
53 | Surulere Primary Health Care Centre, Surulere, | Donation of Maternity Kits to less priviledged expectant mothers | 544,000 | ||
54 | Iwaya Community Primary Health Care, Yaba, | Renovation of of sections of the Primary Health care centre | 2,367,000 | ||
55 | Anambra State Universal Basic Education Board | Donation of Laptops | 5,912,500 | ||
56 | FGGC, Owerri Old Girls Association, Owerri, Imo | Construction of a Games court (Eko Court) at FGGC Owerri | 24,187,500 | ||
57 | Deprived Communities across the Country | Feeding the malnourished across the country through the Bank's | 360,000,000 | ||
58 | AAF Widows, Anambra | Donation of empowerment materials to Widows in Anambra State | 5,000,000 | ||
59 | Kirikiri Prisons, Lagos | Donation of Relieve materials to Inmates of the Kirkiri Prisons to | 10,000,000 | ||
Total | 819,820,448 | ||||
8
Fidelity Bank Plc
Annual Reports and Financial Statements
For the year ended 31 December 2023
Directors' Report - continued
10 Gender Analysis as at 31 December,2023
Fidelity Bank is an equal opportunity employer and is committed to promoting gender diversity in the workplace. The Bank recognizes that women have different skills, viewpoints, ideas and insights which will enable it serve a diverse customer base more effectively. The report on gender analysis
GENDER ANALYSIS OF TOTAL STAFF AS AT 31 December 2023 | 31 December, 2022 | |||||||||
PERCENTAGE | ||||||||||
GENDER | NUMBER | PERCENTAGE OF TOTAL STAFF | NUMBER | OF TOTAL | ||||||
STAFF | ||||||||||
FEMALE | 1,537 | 50% | 1,448 | 48% | ||||||
MALE | 1,526 | 50% | 1,590 | 52% | ||||||
TOTAL | 3,063 | 100% | 3,038 | 100% | ||||||
GENDER ANALYSIS OF EXECUTIVE MANAGEMENT AS AT | 31 December, 2022 | |||||||||
31 December 2023 | ||||||||||
GENDER | NUMBER | PERCENTAGE | NUMBER | PERCENTAGE | ||||||
FEMALE | 2 | 33% | 1 | 29% | ||||||
MALE | 4 | 67% | 4 | 71% | ||||||
TOTAL | 6 | 100% | 5 | 100% | ||||||
GENDER ANALYSIS OF TOP MANAGEMENT (AGM-GM) AS AT 31 December 2023 | 31 December, 2022 | |||||||||
GRADE | FEMALE | MALE | TOTAL | FEMALE | MALE | TOTAL | ||||
General Manager | 0 | 8 | 8 | 1 | 5 | 6 | ||||
Deputy General Manager | 6 | 12 | 18 | 4 | 7 | 11 | ||||
Assistant General Manager | 10 | 22 | 32 | 7 | 25 | 32 | ||||
TOTAL | 16 | 42 | 58 | 12 | 37 | 49 | ||||
Percentage | 28% | 72% | 100% | 24% | 76% | 100% | ||||
GENDER ANALYSIS OF TOP MANAGEMENT (AGM-GM) AS AT 31 December 2023 | 31 December, 2022 | |||||||||
GRADE | FEMALE | MALE | TOTAL | FEMALE | MALE | TOTAL | ||||
Executive Director | 1 | 4 | 5 | 0 | 4 | 4 | ||||
Managing Director | 1 | 0 | 1 | 1 | 0 | 1 | ||||
Non Executive Director | 2 | 6 | 8 | 2 | 6 | 8 | ||||
TOTAL | 4 | 10 | 14 | 3 | 10 | 13 | ||||
Percentage | 29% | 71% | 100% | 23% | 77% | 100% |
9
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Fidelity Bank plc published this content on 15 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 April 2024 11:23:04 UTC.