L-R: Maataa Opare, Group Head of Legal and Company Secretary, Edward Effah and Julian Opuni
FIDELITY BANK Ghana says it recorded over 80% of customer transactions in 2020 via its various digital channels.
This came to light when the bank held its virtual annual general meeting (AGM) on Friday.
Board Chairman of Fidelity Bank, Edward Effah, reiterated that the bank’s array of digital products and services including the Fidelity Mobile App, Online Account Opening, Online Banking Portal, USSD, GHQR payments, Cards and the recently launched WhatsApp Banking Assistant, Kukua, enabled customers to access the bank’s services seamlessly and conveniently in 2020.
He stated, “We introduced Kukua, our 24-Hour WhatsApp Banking Assistant who is fully conversant with the bank’s suite of offerings. Kukua has proven to be a useful addition to our blossoming suite of digital services, and I must say that our various digital services have been pivotal in bolstering the bank’s resilience in the face of the pandemic.”
He also informed shareholders that Fidelity was the first bank in Ghana to partner with SWIFT, the global provider of secure financial messaging services, to adopt the Global Payments Innovation (gpi) service.
Aside providing financial support for selected businesses in healthcare and manufacturing, he said the bank in partnership with International Finance Corporation (IFC) organised Fidelity Presents…, a thought leadership webinar series which offered pragmatic strategies to over 300 SMEs to help them to address the difficulties presented by COVID-19. Fidelity also introduced the Fidelity Young Entrepreneurs Fund (FYEF) to support young people involved in building scalable businesses.
The bank also undertook many social impact activities aimed at supporting government in the fight against COVID-19.
Julian Opuni, Managing Director of Fidelity Bank Ghana, averred, “as the custodian of the Ghana COVID-19 Private Sector Fund, we donated GH¢1 million to support the construction of Ghana’s first Infectious Disease Centre located at the Ga East Municipal Hospital in Accra.
The bank recorded a profit before tax of GH¢382 million in 2020, representing a 19% increase from the GH¢322 million recorded in 2019.
He indicated that the bank’s profitability improved on the back of asset quality, increased revenue and enhanced efficiency, with the cost-to-income ratio declining further to 51% by the end of the year.
A Business Desk Report