Fidelity Bank in 2022 paid about $15 million in fees to international correspondence banks that handled trade transactions for its customers, Samuel Obioha, head of investor relations said separately.
The lender plans to use the 13.8 billion naira it raised in a private placement earlier this year for the acquisitions, Onyeali-Ikpe said. The bank, which expects capital adequacy ratio at 19.1% this year, will also use retained earnings to expand, she said.
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