Fidelity Bank Plc posted a 37.9 per cent increase in gross earnings to N434.95 billion in the first quarter of 2026, reflecting the bank’s continued expansion and stronger presence in the banking sector.
According to the bank’s interim financial results for the three months ended March 31, 2026, gross earnings climbed from N315.42 billion recorded in the corresponding period of 2025 to N434.95 billion in 2026.
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The strong performance was largely driven by growth in core banking activities, as interest income rose by 22.8 per cent to N314.48 billion, compared to N256.10 billion in the first quarter of 2025.
Net interest income stood at N180.97 billion, while profit before tax reached N92.48 billion. Profit after tax settled at N74.47 billion for the period under review, with earnings per share maintained at N5.69, highlighting the bank’s strong shareholder value proposition.
The bank also reported significant improvement in its financial position. Total assets expanded beyond N11 trillion to N11.35 trillion as of March 2026, up from N10.46 trillion in December 2025. Customer deposits increased to N7.38 trillion from N6.89 trillion, while shareholders’ funds rose by 27.5 per cent from N1.09 trillion to N1.39 trillion, supported by robust earnings growth.
The Q1 2026 performance further strengthened confidence in the bank’s earnings outlook following the successful completion of its recapitalisation exercise and strong financial showing in 2025.
During the 2025 financial year, Fidelity Bank recorded substantial growth across key income lines and balance sheet indicators. Gross earnings grew by 45.6 per cent from N1.04 trillion in 2024 to N1.52 trillion in 2025.
Interest and related income advanced by 38.7 per cent to N1.11 trillion from N803.1 billion, while fees and commission income increased by 44.7 per cent to N113.4 billion from N78.4 billion. Net profit after tax for the year stood at N242.4 billion.
The bank’s total assets rose by 18.6 per cent to N10.46 trillion in 2025, compared with N8.82 trillion in the previous year. Customer deposits also climbed by 16.1 per cent to N6.89 trillion from N5.94 trillion, reflecting sustained customer confidence and improved liquidity.
However, net loans and advances declined slightly by 2.4 per cent to N4.28 trillion in 2025 from N4.39 trillion in 2024, mainly due to repayments of matured obligations by customers.
In 2025, the bank further strengthened its capital base, with eligible capital increasing to N561 billion, exceeding the N500 billion regulatory benchmark for banks with international licences. Its Capital Adequacy Ratio also improved significantly to 30.94 per cent in December 2025 from 23.47 per cent a year earlier.
Managing Director and Chief Executive Officer of Fidelity Bank, Nneka Onyeali-Ikpe, described the first-quarter results as evidence of the institution’s resilience and solid business strategy.
She stated that the successful recapitalisation programme and ongoing expansion efforts have positioned the bank for a new phase of sustained growth and stronger returns.
“We are now better positioned and optimistic about achieving higher growth milestones that align with both our heritage and future ambitions,” Onyeali-Ikpe said.
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