Fidelitybank.ng: Gross Earnings Surge 38% to N434.95bn Amid Strong Profit Growth
“Fidelity Bank has stunned the financial market with a massive 38% surge in gross earnings, signaling stronger profitability, expansion, and bigger shareholder returns in 2026.”
“Nigeria’s banking sector witnessed another major milestone as Fidelity Bank Plc posted an impressive 37.9 per cent increase in gross earnings for the first quarter of 2026, reinforcing investor confidence and showcasing the bank’s growing dominance in the financial industry. The bank’s strong earnings growth, rising customer deposits, expanding asset base, and robust capital position signal a new era of profitability and stability for shareholders and customers alike.”
“Fidelity Bank Plc recorded a 37.9% increase in gross earnings to N434.95 billion in Q1 2026, driven by strong interest income growth and expanding banking operations. The bank also posted a profit before tax of N92.48 billion, while total assets rose above N11 trillion, highlighting strong financial performance and balance sheet expansion.”
Fidelity Bank Plc has reported a strong financial performance for the first quarter of 2026, with gross earnings rising by 37.9 per cent to N434.95 billion, compared to N315.42 billion recorded in the corresponding period of 2025.
According to the bank’s interim report and accounts for the three months ended March 31, 2026, released on the Nigerian Exchange (NGX), the impressive growth reflects the bank’s continued expansion in core banking operations and increasing market share within Nigeria’s financial sector.
Interest income grew significantly by 22.8 per cent to N314.48 billion in Q1 2026, up from N256.10 billion recorded in Q1 2025.
Consequently, net interest income stood at N180.97 billion during the review period.
The bank also posted a profit before tax of N92.48 billion, while profit after tax settled at N74.47 billion. Earnings per share remained strong at N5.69, further underlining the institution’s ability to deliver value to shareholders.
Meanwhile, Fidelity Bank’s balance sheet maintained a solid upward trajectory. Total assets increased to N11.35 trillion by March 2026, compared to N10.46 trillion as of December 2025. Customer deposits also rose from N6.89 trillion to N7.38 trillion, reflecting sustained customer confidence and stronger liquidity.
In addition, shareholders’ funds recorded remarkable growth, as total equity climbed by 27.5 per cent from N1.09 trillion in December 2025 to N1.39 trillion by March 2026, largely driven by retained earnings growth.
The Q1 2026 performance further strengthens the bank’s earnings outlook following the successful completion of its recapitalisation programme in 2025.
The bank had earlier delivered a strong full-year performance for 2025, with audited financial statements showing that gross earnings increased by 45.6 per cent from N1.04 trillion in 2024 to N1.52 trillion in 2025.
Similarly, interest and similar income rose by 38.7 per cent 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.
Net profit after tax for the 2025 financial year stood at N242.4 billion.
On the balance sheet side, total assets expanded by 18.6 per cent to N10.46 trillion in 2025 from N8.82 trillion recorded in 2024.
Customer deposits increased by 16.1 per cent to N6.89 trillion, reflecting improved franchise strength and enhanced funding capacity.
However, net loans and advances declined slightly by 2.4 per cent to N4.28 trillion in 2025, compared to N4.39 trillion in 2024, largely due to repayments of matured customer obligations.
The bank also strengthened its capital base during the year, with eligible capital rising to N561 billion, exceeding the regulatory minimum requirement of N500 billion for banks with international authorisation.
Furthermore, Fidelity Bank’s Capital Adequacy Ratio improved significantly to 30.94 per cent by December 2025, up from 23.47 per cent recorded in December 2024.
Speaking on the Q1 2026 performance, Managing Director and Chief Executive Officer of Fidelity Bank, Nneka Onyeali-Ikpe, described the results as a reflection of the bank’s resilient business model and strategic growth direction.
She stated, “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.”
According to her, the successful recapitalisation exercise and continued expansion efforts have positioned Fidelity Bank for stronger returns and long-term sustainability.
