Fidelity Bank Posts Strong Q1 Performance
Fidelity Bank Plc recorded a strong financial performance in the first quarter of 2026, with gross earnings rising by 37.9 per cent to N434.95bn.
The bank disclosed this in its interim report for the three months ended March 31, 2026, released on the Nigerian Exchange.
Gross earnings increased from N315.42bn in Q1 2025 to N434.95bn in the corresponding period of 2026.
Interest Income Drives Earnings Growth
The growth came largely from the bank’s core banking operations. Interest income climbed by 22.8 per cent to N314.48bn, compared to N256.10bn recorded in Q1 2025.
In addition, net interest income stood at N180.97bn during the period.
Consequently, Fidelity Bank posted a profit before tax of N92.48bn. After taxes, net profit settled at N74.47bn for the quarter.
The bank also maintained strong shareholder returns. Earnings per share closed at N5.69.
Total Assets Exceed N11tn
Fidelity Bank strengthened its balance sheet further during the quarter.
Total assets rose to N11.35tn by March 2026 from N10.46tn recorded in December 2025.
Customer deposits also increased significantly. Deposits climbed from N6.89tn to N7.38tn within the period under review.
Likewise, total equity expanded by 27.5 per cent to N1.39tn, up from N1.09tn in December 2025.
The growth reflected improved earnings and stronger capital positioning.
2025 Performance Supports Momentum
The Q1 results followed an impressive financial performance in 2025, when the bank completed its recapitalisation programme.
During the 2025 financial year, Fidelity Bank recorded strong growth across major income lines and balance sheet indicators.
Gross earnings increased by 45.6 per cent from N1.04tn in 2024 to N1.52tn in 2025.
Interest and similar income also grew by 38.7 per cent to N1.11tn, compared to N803.1bn in the previous year.
Furthermore, fees and commission income rose by 44.7 per cent from N78.4bn to N113.4bn.
Net profit after tax reached N242.4bn for the year.
Capital Position Remains Strong
The bank’s total assets expanded by 18.6 per cent to N10.46tn in 2025 from N8.82tn in 2024.
Customer deposits also rose by 16.1 per cent from N5.94tn to N6.89tn.
However, net loans and advances declined slightly by 2.4 per cent to N4.28tn. The bank attributed the drop to customers settling matured obligations.
Meanwhile, Fidelity Bank strengthened its capital base considerably.
Eligible capital increased to N561bn, exceeding the regulatory minimum requirement of N500bn for banks with international authorisation.
In addition, the capital adequacy ratio improved to 30.94 per cent in December 2025 from 23.47 per cent in 2024.
Managing Director Expresses Confidence
The Managing Director of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, described the Q1 2026 performance as proof of the bank’s resilient business model.
She said the bank had entered a stronger growth phase following the successful recapitalisation exercise.
According to her, Fidelity Bank remains confident about sustaining stronger growth and delivering higher returns in the coming years.
“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 stated.
