News Highlights:
- Fidelity Bank Plc grew gross earnings by 37.9% to N434.95 billion in Q1 2026, with profit after tax reaching N74.47 billion.
- The bank’s total assets crossed N11 trillion, while customer deposits rose to N7.38 trillion, reflecting stronger balance sheet growth and market expansion.
Fidelity Bank Plc has recorded a 37.9 per cent increase in gross earnings to N434.95 billion in the first quarter of 2026, underscoring the bank’s continued expansion in Nigeria’s highly competitive banking industry.
According to the bank’s interim report and accounts for the three months ended March 31, 2026, released on the Nigerian Exchange (NGX), gross earnings rose significantly from N315.42 billion recorded in the corresponding period of 2025 to N434.95 billion in Q1 2026.
The strong top-line performance was largely driven by growth in the bank’s core banking operations, with interest income rising by 22.8 per cent to N314.48 billion in the first quarter of 2026, compared to N256.10 billion in the same period of 2025.
With net interest income standing at N180.97 billion, the bank closed the quarter with a profit before tax of N92.48 billion. Profit after tax stood at N74.47 billion for the three months, while earnings per share remained robust at N5.69, reflecting the bank’s sustained capacity to deliver value to shareholders.
The bank’s balance sheet also strengthened considerably during the review period. Total assets surpassed the N11 trillion mark, rising to N11.35 trillion by March 2026 from N10.46 trillion in December 2025. Customers’ deposits increased from N6.89 trillion to N7.38 trillion, while total equity grew by 27.5 per cent from N1.09 trillion in December 2025 to N1.39 trillion by March 2026, buoyed by earnings growth.
The first quarter performance further reinforced the bank’s strong earnings outlook following the successful completion of its recapitalisation programme amid an impressive financial performance in 2025.
Fidelity Bank had earlier posted strong double-digit growth across key income lines and balance sheet indicators for the financial year ended December 31, 2025.
Its audited financial report showed that gross earnings rose by 45.6 per cent from N1.04 trillion in 2024 to N1.52 trillion in 2025. Interest and similar income increased by 38.7 per cent from N803.1 billion in 2024 to N1.11 trillion in 2025, while fees and commission income climbed by 44.7 per cent from N78.4 billion to N113.4 billion.
The bank also recorded a net profit after tax of N242.4 billion in 2025.
Further analysis of the bank’s balance sheet showed that total assets increased by 18.6 per cent to N10.46 trillion in 2025 from N8.82 trillion in 2024. Customer deposits rose by 16.1 per cent from N5.94 trillion to N6.89 trillion, highlighting continued franchise strength and improved funding capacity.
Net loans and advances, however, declined slightly by 2.4 per cent to N4.28 trillion in 2025 from N4.39 trillion in 2024, a development attributed to customers repaying matured obligations.
The bank also strengthened its capital position in 2025, with eligible capital rising to N561 billion, above the regulatory minimum requirement of N500 billion for banks with international authorisation. Capital adequacy remained strong, with the Capital Adequacy Ratio improving to 30.94 per cent in December 2025 from 23.47 per cent in December 2024.
Commenting on the bank’s Q1 2026 performance, Managing Director of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, said the results reflected the resilience and strength of the bank’s business model.
She stated that the successful recapitalisation exercise and the bank’s continued expansion had positioned Fidelity Bank for a new phase of growth and stronger returns.
“We are on a stronger footing and confident that we will set new growth records that are reflective of our legacy and the future we are working on,” Onyeali-Ikpe said.
