Fidelity Bank Plc: Nigeria’s Sixth Largest Bank

Fidelity Bank, which is popularly known as Fidelity Bank Plc., is a commercial bank in Nigeria that has its headquarters in Victoria Island, Lagos. Fidelity is a licensed commercial bank with international authorization from the Central Bank of Nigeria (CBN).

The bank has grown from being a small player in the Nigerian financial system in the late '90s and has grown to be one of Nigeria’s leading financial institutions. In 2005, the bank acquired FSB International Bank Plc and Manny Bank Plc to be able to create one of the top 10 Nigerian Banks. Fidelity Bank Plc was ranked the 7th most capitalized bank in Nigeria in 2011 and the 25th most capitalized bank in Africa. The bank increased in providing good services and became the 4th best bank in Nigeria in 2017.

It was also said that Fidelity Bank Plc has total assets of over $4.2 billion (NGN:1.4 + trillion) and stakeholder equity holding up to US$610 million (NGN:203 billion). The bank has more than 4 million customers and has over 240 business offices, 775 ATMs, and 4,346 POS. 

Currently, the bank has over 400,000 shareholders. Fidelity Bank Plc was listed on the Nigerian Stock Exchange in May 2005 and has since paid dividends for the past 12 years. The market capitalization of Fidelity Bank is said to be NGN:37,072,109,685.76.

When Was Fidelity Bank Formed?

Fidelity Bank started in 1987 and began its operation in 1988. The bank started with a merchant banking license.

The bank later converted to a commercial bank in 1999 as it aimed to expand its reach as a private limited company in August 1999; that same year, it was re-branded as Fidelity Bank Plc.

Fidelity secured its Universal Banking Licence in February 2021 and got its International Banking License in 2011.  

How to Open a Fidelity Bank Account

Individual/Personal

• Visit the Fidelity Bank Online Account Portal

• Click “Open a New Account”

• Choose between Savings, Current, and Diaspora

• Toggle between Open With BVN/Open Without BVN

• Enter the OTP (if opening with BVN)

• Enter all the required details

• Upload your valid ID (voter’s card, international passport, driver’s license, or NIN)

• And click Submit

Corporate

• Visit the Fidelity Bank Online Account Portal

• Enter your Business Name

• Enter the BVN/BVN of any of the directors

• Enter the OTP sent to the BVN’s registered phone number

• Fill in all the requested details of the company

• And click Submit

What Are the Items Needed to Open a Personal Account With Fidelity Bank?

The updated list below is for all who intend to open a personal account with Fidelity Bank Plc.

• Name

• Tax identification number

• Valid government photo identification issued at least 30 days ago

• Date of birth

• Mailing and physical address (if different)

• Contact phone number

• Mother’s maiden name (for additional security)

• Citizenship/Residency status

• Occupation

• General source of funds (e.g. wages, self-employed, etc.)

• Expected level of cash activity

What Are the Items Needed to Open a Business Account With Fidelity Bank?

The updated list below is for all who intend to open a business account with Fidelity Bank Plc.

• Name of business

• Tax identification number

• Legal structure (e.g. LLC, Partnership, Corporation)

• Validation of business existence (e.g. business governing documents, articles of corporation/organization, partnership agreement, court documents, state registry verification, etc.)

• State of Formation

• Nature of business (e.g. construction, health care, etc.)

• Mailing and physical address (if different)

• Contact phone number

• Purpose of account (e.g. operating, payroll, etc.)

• Expected level of cash activity (e.g. under/over $10,000/mo.)

• Beneficial owner information that may be required for anyone owning 25% or more and one control person:1

• Name

• Percentage of ownership

• Title or role (e.g. CEO, President, Manager, etc.)

• Tax identification number

• Valid government photo identification issued at least 30 days ago (can be a photocopy)

• Date of birth

• Mailing and physical address (if different)

• Contact phone number

• Mother’s maiden name (for additional security)

• Citizenship/Residency status (e.g. US citizen, resident alien, etc.)

• Occupation (e.g. doctor, dentist. builder, attorney, etc.)

Frequently Asked Questions (FAQs)

What Is Fidelity?

Fidelity is defined as the quality or state of being faithful or loyal

What Is Fidelity Investments?

Fidelity Investments, popularly known as Fidelity, is an American multinational financial services corporation that is based in Boston, Massachusetts.

What Is The 1-800 Number For Fidelity?

To manage your Fidelity Bank accounts using our automated telephone banking system, simply dial 1-800-816-9608 and refer to the options and instructions below. This convenient service is available 24 hours a day, 7 days a week.

Is Fidelity a Bank?

Yes, Fidelity is a Bank in Nigeria that was incorporated in 1987 and began its operations in 1988. It initially started with a Merchant Banking license.

What Is an Investment Account?

An investment account is one that holds stocks, bonds, funds, and other securities, as well as cash.