Fidelity Rebrands, to Strengthen Focus on Youth Segment

Fidelity Bank Plc last week Thursday unveiled its new identity. The bank explained that the move was aimed at strengthening its operations in order to deliver superior customer satisfaction. It also explained that the rebranding exercise was to bring about convergence in its services, to suit both the old and new generation customers.

Speaking at the unveiling of the new identity, the Group Managing Director/Chief Executive Officer, Fidelity Bank, Mr. Nnamdi Okonkwo, reiterated the financial institution’s commitment towards customer service, saying that the bank is also targeting the youth population.
Okonkwo, while commenting on the new logo of the bank, explained that the deep blue colour reminds the financial institution of its “rich, solid background as a bank,” adding that “It holds there an accommodative path which inspires us to go into the future.”

The green colour, according to him, stands for fertility, growth and progress to the future, while the white line at the middle stands for safety, purity and a guiding light.

According to the bank chief, the new identity took the bank months of strategising, planning and execution, saying that it needed the rebranding exercise to be in touch with the changing realities of the modern time.
“In business, there must be a time you need to change. For Fidelity Bank, there are many reasons why we need to change. Historically, we are perceived to be a conservative bank. There is nothing wrong with being conservative; after all, that is how we gained our credibility, but you need to know that the world is changing With advance in technology, with globalisation and change in demographics, we must wake up to the realities of today.

“Like any other global brand that is constantly evolving, we must make sure that our brand means something to every stakeholder,” Okonkwo said.

On his part, the Chairman of the bank, Mr. Christopher Eze, said the growth achieved by the bank over the years was as a result of support from its stakeholders as well as customers.

 

 

“Fidelity Bank is reputed for professionalism and integrity and no matter how many times we have changed logo, we still remain fidelity and you can trust our words. You can trust us for stability and quality service delivery,” Ezeh said.

Continuing, while stating that about 43 per cent of Nigeria’s population is made up of youths, Okonkwo said any institution which fails “to connect with the youths today will lose tomorrow.”

He added: “It is no longer just about bringing in huge deposit but also know how to drive profit with the pulled funds.”

While stressing that the first half of 2015 was very tough for the banking industry as a result of the global headwinds as well as regulatory pressure, Okonkwo assured stakeholders of the bank that staff members were working hard to ensure that the bank post healthy performance.

“This is a solid bank; well capitalised. In the industry today, we are the most capitalised in terms of capital adequacy ratio. While the CBN requires us to have 15 per cent capital adequacy ratio, we actually have 22.3 per cent.

“Last year, our profit before tax grew by 72 per cent in this challenging year when company’s profits are dropping. We will continue to strive to make sure that we deliver the kind of numbers we promised the Board or at worst, something close to it,” he added.