Fidelity Bank Masks Struggles with Glitzy U.S. Event amid Mounting Local Woes

Fidelity Bank Plc is pressing ahead with another expensive foreign showcase, this time in Atlanta, USA, under the guise of a fintech-focused trade conference, even as concerns continue to mount over the bank’s recent struggles at home.

The lender announced that it will host a high-profile panel session titled ‘Digital Railroads: Powering U.S.–Africa Commerce Through Fintech’ at the Fidelity Nigeria International Trade and Creative Connect (FNITCC), scheduled for 18–20 September 2025.

The event, packaged with global speakers and projected multi-million-dollar deals, is being promoted as a driver of cross-border trade and financial inclusion.

But critics say the bank’s fanfare abroad is a smokescreen for more pressing issues facing Fidelity on the domestic front. In recent months, Fidelity has battled investor scepticism, scrutiny over its risk exposure, and a turbulent operating environment where rising non-performing loans and tighter regulatory oversight have tested lenders’ resilience.

Questions are being asked about whether Fidelity’s resources would be better spent stabilising its balance sheet and strengthening local operations instead of staging grandiose conferences overseas.

The bank has positioned fintech as its golden ticket, claiming it will transform Africa’s trade future. However, sceptics argue that fintech hype cannot paper over Fidelity’s core challenges: limited penetration among retail customers, sluggish loan growth compared to rivals, and increased competition from both traditional banks and digital-only challengers.

Industry observers also note that while Fidelity has trumpeted its past FNITCC editions in London (2022) and Houston (2023), little evidence has emerged of tangible benefits for Nigeria’s struggling SMEs or exporters, many of whom still face barriers to credit and access to global markets.

By anchoring its brand on glossy international events, analysts warn that Fidelity risks being seen as out of touch with domestic realities. With inflation eroding household incomes and businesses crying out for practical support at home, the bank’s Atlanta showcase may do little more than underline a widening disconnect between its global posturing and local performance.