Fidelity vows to exit CBN forbearance by June 30, 2025

Fidelity Bank Plc. has reaffirmed its financial resilience in light of the Central Bank of Nigeria’s (CBN) recent regulatory forbearance measures concerning Single Obligor Limits (SOL) and other credit facilities.

In a statement issued on the Nigerian Exchange (NGX) Disclosures Portal, the bank assured stakeholders of its compliance with the CBN directive while emphasizing its strong capital position and proactive risk management strategies.

According to Fidelity Bank, the forbearance applies to two obligors under SOL and four additional credit facilities.

The bank expressed confidence that these exposures would be fully provisioned or restored to performing status by June 30, 2025, ensuring an exit from all forbearance arrangements within the first half of the year.

Highlighting its capital strength, Fidelity Bank disclosed that its recent Public Offer and Rights Issue raised ₦273 billion—oversubscribed by 237.92% and 137.73% respectively.

The bank is set to raise an additional ₦200 billion through a Private Placement in 2025, aligning with the new minimum regulatory capital requirement of ₦500 billion for banks with international authorization.

“With the approval of the CBN and shareholders secured, and ongoing regulatory processes nearing completion, we remain well-positioned to meet prevailing requirements and sustain dividend payments,” Fidelity Bank stated.

The bank expressed gratitude to investors, customers, and stakeholders for their continued confidence, reaffirming its commitment to financial stability and prudent risk management.

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