Fidelity Bank PLC has announced the pact to expand its operations into the United Kingdom. THis was made known through the bank’s social media handles which reads thus,

“We are delighted to announce that we have entered into a binding agreement for the acquisition of 100% equity stake in Union Bank, UK, for which the Central Bank of Nigeria has issued a letter of ‘No objection’. 

This transaction aligns with our plans to expand our service touchpoints beyond the Nigerian market and provide straight-through services that meet and exceed the needs of our growing clients.  

It is also important to note that this acquisition is subject to the approval of the Prudential Regulatory Authority (PRA) of the United Kingdom,” the statement concludes.

With this strategic expansion, the bank has joined the growing number of Nigerian banks with operations beyond Africa.