Fidelity Bank Plc has reiterated its commitment to take its quality services to the nooks and crannies of this country. This was made known by the Managing Director of Fidelity Bank plc; Mr. Reginald Ihiaghi who noted that part of the public offer proceeds of the bank would be used to open eleven new branches in the Northern part of the country.

According to him, the branches will be opened in Sokoto, Plateau, Kogi, Bauchi, Katsina, Adamawa, Kebbi, Niger, Kwara and Benue States.

He said that all the above states will get a branch office, while Kogi State will get two. He revealed the branch expansion effort will commence next year and that the effort will gulp a total sum of N9.9 billion of 21.8 percent of the offer proceed. However, he said that bank plans to open a total of 80 branches between now and 2009.

A break down of the bank's offer prospectus show that it will use 9.9 percent of the offer proceeds to upgrade its IT systems, 11 percent for investment in subsidiaries, 21.8 percent for branch expansion while 57.3 percent will be plowed into working capital, trade finance and project financing.

Therefore, this shows that branch expansion and working capital will gulp the lion shares from the expected offer proceed of N45.3 billion