Fidelity Bank has cemented its status as the largest privately owned bank in Ghana, according to a recent announcement by Deputy Managing Director Mr. Yeboah Gyan.
This achievement underscores the bank’s dedication to providing quality banking services and reflects its commitment to the financial well-being of Ghanaians.
Speaking at a media engagement in Sunyani, Mr. Gyan Yeboah emphasized Fidelity Bank’s notable growth, ranking as the fifth largest bank in Ghana by assets as of last year.
This progress, he said, is a testament to the bank’s resilience amid recent economic challenges, including Ghana’s aggressive debt restructuring.
Despite sector-wide challenges, Fidelity Bank achieved remarkable financial outcomes, transforming a loss of GHS 518 million in 2022 into a profit of GHS 1.17 billion in 2023.
The bank’s total assets rose by 25% to GHS 17.22 billion, and its Capital Adequacy Ratio improved from 16.8% to 20.9%.
Mr. Gyan Yeboah also highlighted the bank’s contributions to financial inclusion in Ghana, particularly through initiatives like the Smart Account and Yello Save, which have helped bring over 1.5 million previously unbanked individuals into the financial system.
These efforts have significantly reduced the unbanked population in Ghana from 70% in 2011 to 38% today.
Additionally, Fidelity Bank’s local agents have contributed to job creation and economic stimulation in their communities.
Supporting small and medium-sized enterprises (SMEs) remains a key focus for Fidelity Bank.
According to Mr. Gyan Yeboah the bank provided GHS 14.35 million in support to 103 SMEs across Ghana, creating 119 new jobs, sustaining over 3,000 existing jobs, and positively impacting 2,483 farmers—72.9% of whom are women.
Looking ahead, Mr. Gyan Yeboah announced plans to introduce accessible microloans through a digital platform called Kukua, designed especially for SMEs.
He also expressed gratitude to the media for their continued support, emphasizing Fidelity Bank’s vision to become a leading force in Africa’s financial sector.
