Emmanuel lkpeama
Fidelity Bank Plc has issued a statement in response to the Central Bank of Nigeria’s (CBN) recent circular on regulatory forbearance concerning Single Obligor Limit (SOL) and other credit facilities.
The bank emphasizes its commitment to compliance with regulatory policies and directives stating that Fidelity Bank has successfully raised ₦273 billion through a Public Offer and Rights Issue, with plans to raise an additional ₦200 billion via Private Placement to meet the new ₦500 billion regulatory capital requirement
The release went on to say that the bank’s exposure under SOL forbearance relates to two obligors, with plans to bring it within regulatory limits by H1 2025 as the bank has made substantial provisions for four customers under forbearance and expects to exit all CBN forbearance arrangements by June 30, 2025.
Investigator news reports that Fidelity Bank remains confident in meeting regulatory requirements, enabling it to pay dividends for the current financial year and the bank is processing necessary approvals for the Private Placement and is working to ensure full provisioning or return of accounts to performing status.
Fidelity Bank appreciates the continued confidence of its investors, customers, and stakeholders.
