When Nneka Onyeali-Ikpe was appointed the Managing Director/Chief Executive Officer of the retail lender, Fidelity Bank Plc in July 2020, she spoke plainly about the Bank’s ambition to attain a tier-1 status by 2025.

Two and a half years down the lane, the Bank has taken several bold steps that put it well on course to joining the Tier-1 league.

Tier-1 status refers to a bank's capital adequacy ratio and signifies its financial strength and ability to absorb losses. Achieving tier-1 status is a significant milestone for a bank as it demonstrates stability, credibility, and the ability to support the economy.

Right now, only five commercial banks in Nigeria are classified as tier-1. These include First Bank, UBA, GTB, Access Bank, and Zenith Bank. Fidelity Bank has set its sights on joining the league. Will they make the cut?

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