Fidelity Bank Grows Gross Earnings by 38% to N434.95bn in Q1 2026

Fidelity Bank Grows Gross Earnings by 38% to N434.95bn in Q1 2026

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, driven by growth in its core banking operations.

The unaudited interim report and accounts for the three months ended March 31, 2026, released on the Nigerian Exchange, showed that the bank’s gross earnings increased from N315.42 billion recorded in the corresponding period of 2025.

Interest income grew significantly by 22.8 per cent to N314.48 billion in Q1 2026, compared with N256.10 billion in Q1 2025, reflecting expansion in the bank’s core business activities.

With net interest income standing at N180.97 billion, the bank posted a profit before tax of N92.48 billion for the period. Profit after tax settled at N74.47 billion, while earnings per share remained strong at N5.69.

The bank also recorded notable improvements across key balance sheet indicators. Total assets rose above the N11 trillion mark to N11.35 trillion as of March 2026, compared with N10.46 trillion recorded at the end of December 2025.

Customer deposits increased from N6.89 trillion to N7.38 trillion during the review period, while shareholders’ funds rose by 27.5 per cent from N1.09 trillion in December 2025 to N1.39 trillion by March 2026, supported by earnings growth.

The Q1 performance further strengthened the bank’s earnings outlook following the successful completion of its recapitalisation programme in 2025.

The bank had earlier posted strong full-year results for 2025, recording growth across major income lines and balance sheet metrics.

According to its audited financial statements, 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 from N803.1 billion to N1.11 trillion, while fees and commission income grew by 44.7 per cent to N113.4 billion.

Net profit after tax for the 2025 financial year stood at N242.4 billion.

Total assets expanded by 18.6 per cent to N10.46 trillion in 2025 from N8.82 trillion in 2024, while customer deposits increased by 16.1 per cent to N6.89 trillion.

Net loans and advances, however, declined slightly by 2.4 per cent to N4.28 trillion, which the bank attributed to repayments of matured obligations by customers.

The bank also strengthened its capital position in 2025, with eligible capital rising to N561 billion, above the N500 billion regulatory requirement for banks with international authorisation.

Capital Adequacy Ratio improved to 30.94 per cent in December 2025 from 23.47 per cent recorded in December 2024.

Commenting on the results, Managing Director and Chief Executive Officer of Fidelity Bank Plc, Nneka Onyeali-Ikpe, said the Q1 2026 performance reflects the resilience and strength of the bank’s business model.

She stated that the successful recapitalisation exercise and the bank’s ongoing expansion had positioned Fidelity Bank for stronger growth and improved 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.