Fidelity Bank Plc., one of Nigeria’s most capitalised financial institutions, yesterday rewarded its loyal customers with cash prizes at the 2015 Lagos International Trade Fair. As part of the bank’s ongoing customer loyalty scheme, 12 lucky beneficiaries – 6 FPSS account holders and 6 SWEETA account holders – each carted away N500,000 Xtra income and N150,000 school fees support respectively.
This move, which is part of the bank’s customer retention and acquisition strategy, is expected to help the bank boost sales of branded products at the fair. Speaking at Fidelity Bank’s Special Day at the Trade Fair in Lagos, Nnamdi Okonkwo, Managing Director/Chief Executive Officer, noted that the trade extravaganza has continued to attract local and foreign exhibitors over the years.
He commended the Board and Members of the Lagos Chamber of Commerce and Industry for the impressive effort since 1986 when the trade group took over the organisation of the Fair. Okonkwo stated that the fair provides an avenue for various trade groups to showcase their products and ideas as well as tap into the myriads of business opportunities that exist in Nigeria.
In spite of the harsh business landscape amplified by economic and regulatory pressures arising from the devaluation of the naira, tight monetary stance, and implementation of the Treasury Single Account (TSA), Okonkwo said the firm has remained profitable. In its third quarter (Q3) result for the period ended September 30, 2015, Fidelity Bank posted a rise of 11.0 percent and 1.8 percent in its gross earnings and profit respectively. “Our success story is anchored on improved service quality, innovative products and services tailored to meet the varying needs of our numerous customers”, He explained that the bank’s recent re-branding is a clear demonstration of its determination to exceed expectations in the delivery of excellent customer service.
Alluding to the bank’s efforts aimed at diversifying the nation’s monolithic economy, Okonkwo said that the bank is channeling significant human and financial resources into the real sector, particularly in the area of can manufacturing, food and beverages, electricity power projects, amongst others. He said this year’s edition of the trade fair tagged: ‘Enhancing Value Addition in the Non-Oil Economy’, is apt in view of the nation’s dwindling economic fortunes. The trade fair which kicked off on Friday last week, has in attendance over 1,000 exhibitors cutting across various industry verticals. But more importantly, these exhibitors will use the platform to showcase their innovative products and services to individual and corporate visitors across the globe.
According to the Bank Chief, prospective and existing customers of Fidelity Bank at the fair will benefit from its expert advisory services and robust electronic channels. In recent times, the Bank has made significant strides in the deployment of robust electronic banking system including internet, mobile banking and payment platforms, Automated Teller Machines (ATMs), Point of Sales (PoS) terminals, card solutions, and money transfer services.
With about 4,000 Point of Sale (PoS) machines and 731 ATMs, the Bank’s efforts at promoting cash-lite economy is already yielding desired results. E-banking income increased by 128.4 percent y-o-y to N4.5 billion and 115.4 percent q-o-q, according to the Q3 reports. “At our stand, we offer full banking services while our experienced staff are readily available with our tailored product offerings that meet your financial needs”, he noted. At the fair, six variants of the Bank’s saving products designed to cater to the needs of various market segments were on display. “As such, we organise yearly promos and loyalty schemes to reward our customers and encourage them to imbibe savings culture. We are running an innovative promo tagged ‘Save 4 Shelter Promo’.
The promo focuses on one of the basic needs of man (Shelter)”, he stated. Three duplexes located in Abuja, Lagos & PH will be won in bi-monthly draws while rent support of N2m, N1m and N500,000 will be won in monthly draws