Fidelity Bank Plc has been adjudged the “Best Telecoms Financing Bank” in Nigeria. The bank emerged tops among three banks that were nominated for the award at the 8th Annual Nigerian Telecoms Awards held in Lagos.
Other banks nominated were Access Bank Plc and First Bank Plc who emerged first and second runners-up respectively in the Banking and Financial Services category.
The organizers of the Award said that Fidelity Bank was recognized for its overall contribution to total loans and advances to Information & Communication Technology (ICT) and Telecommunications sectors. In their assessment, the portion of the banks support to ICT within the period under review clearly surpassed those of its competitors.
The panel of judges made up of renowned Telecoms industry operators and journalists looked at major indices like the sector credit share, sector concentration and loan portfolio in IT and Telecoms projects and finance before arriving at the final decision to pick the most outstanding financing bank in Nigeria.