Fidelity Bank Plc has taken a 5 percent impairment charge on a 17.3 billion naira ($55 million) loan to 9mobile.This was made known by its Managing Director, Nnamdi Okonkwo on Wednesday.
According to Okonkwo,the bank was also raising provisions across its loan book.
“We are revising non-performing loan ratio from sub-5 percent to sub-6 percent by end of the year, due to currency conversion and some risk on the oil and gas book,” he told an analysts call held to discuss its nine-month results.
“We have seen some improvements in the transport sector and the consumer book.”
He said the bank had submitted details of personal and business accounts that lacked complete identification to the central bank following a court order, while declining to disclose how many accounts were involved.