Fidelity Bank Plc today hinted that its savings base had increased to N170 billion due to the adoption of innovative retail banking strategy – “Get Alert in Millions Promo’’.
The bank’s Managing Director, Mr. Nnamdi Okonkwo, who disclosed the feat during the fifth/third bi-monthly prize presentation of the Fidelity “Get Alert in Millions Promo Reloaded’’ in Lagos, said that the savings base rose to N170 billion from N89 billion in 2015, representing an increase of 91.01 per cent
Represented by the Directorate Head, Corporate Banking, Mr Obaro Odeghe, the bank’s boss enthused: “About three years ago, the savings base of the bank was about N89 billion and till date, I can tell you that we have crossed the N170 billion threshold and it is still going. So, clearly we have really demonstrated a lot of attraction since this promotion started,’’ he said.
Okonkwo said that the adoption of retail banking strategy generated a lot of deposits from existing customers, attracted new customers, and enhanced financial inclusion in Nigeria.
While restating the bank’s management commitment to continue to embrace initiatives that would improve the lives of its customers, the seasoned banker said that the promo was introduced to improve the lives of the customers as well as reward loyal customers who had been banking with the bank over the years.
According to him, the bank would continue to play strong in the Small and Medium Enterprises (SMEs) base to ensure growth of small businesses, adding that the lender has a lot of initiatives aimed at supporting the growth of SMEs apart from giving out loans.
He explained that Fidelity Bank had been providing SMEs support in advisory services and project analysis to ensure proper utilisation of loans. This is even as disclosed that the bank had given a total of N81 million in cash and 90 consolation prizes to 183 winners under the “Get Alert in Millions Reloaded’’.
Okonkwo, who said that the bank major priority was to reward its customers through different initiatives to improve their living standard, listed some of the consolation prizes won so far during the promot to include television sets, generators and refrigerators.
He said that the grand prize of N10 million would be won by a lucky customer at the end of the promo.
The winners emerged from a transparent randomisation process monitored by the bank’s control team and witnessed by officials from Consumer Protection Council (CPC) and other regulators and stakeholders.
At the Lagos zonal promo event, Damilare Emmanuel of Saka Tinubu Branch, Lagos, and Isreal Okechi Nwaobialor of Egbeda Branch who won one million naira and two million naira respectively.