Fidelity Bank Plc has recorded a 37.9 per cent growth in its gross earnings to N434.95bn for the first quarter of 2026, as the international commercial bank continues to expand its core banking market share.
The interim report and accounts of the bank for the three months ended 31 March 2026, released on the Nigerian Exchange, showed that gross earnings rose from N315.42bn in the first quarter of 2025 to N434.95bn in the corresponding period of 2026, representing an increase of 37.9 per cent.
The top-line performance was driven by impressive growth in the bank’s core business operations, with interest income rising 22.8 per cent to N314.48bn in Q1 2026, compared to N256.10bn in Q1 2025. With net interest income at N180.97bn, the bank closed the period with a profit before tax of N92.48bn.
After taxes, net profit stood at N74.47bn for the three months. Earnings per share remained high at N5.69, underlining the capacity of the bank to reward its shareholders.
The balance sheet of the bank also emerged stronger as total assets crossed the N11tn mark to N11.35tn by March 2026, compared with N10.46tn recorded in December 2025. Customers’ deposits increased from N6.89tn to N7.38tn. Total equity rode on the back of earnings growth to post a 27.5 per cent increase from N1.09tn in December 2025 to N1.39tn by March 2026.
The Q1 2026 results further consolidated the strong earnings outlook of the bank, which completed its recapitalisation amid an impressive earnings performance in 2025. Fidelity Bank had recorded double-digit growth in interest and non-interest income, as well as key balance sheet items, during the year ended 31 December 2025.
The audited report showed that gross earnings rose from N1.04tn in 2024 to N1.52tn in 2025, an increase of 45.6 per cent. Interest and similar income grew 38.7 per cent from N803.1bn in 2024 to N1.11tn in 2025. Fees and commission income also rose 44.7 per cent from N78.4bn to N113.4bn. The bank recorded a net profit after tax of N242.4bn in 2025.
The bank’s balance sheet emerged stronger, with total assets rising 18.6 per cent to N10.46tn in 2025, as against N8.82tn in 2024. Customer deposits increased 16.1 per cent from N5.94tn to N6.89tn, reflecting continued franchise strength and an improved funding profile. Meanwhile, net loans and advances declined 2.4 per cent to N4.28tn in 2025, as against N4.39tn in 2024, which was attributable to customers paying down their mature obligations.
The bank in 2025 strengthened its capital position, with eligible capital rising to N561bn, above the regulatory minimum of N500bn for banks with international authorisation. In addition, capital adequacy remained robust, with a capital adequacy ratio of 30.94 per cent by December 2025, as against 23.47 per cent by December 2024.
The Managing Director of Fidelity Bank Plc, Dr Nneka Onyeali-Ikpe, said the Q1 2026 results reinforced the bank’s strong and resilient business model. She noted that with the remarkable success of its recapitalisation programme and continuing expansion, Fidelity Bank had entered a new era of growth and impressive 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.
Fidelity Bank Plc has recorded a 37.9 per cent growth in its gross earnings to N434.95bn for the first quarter of 2026, as the international commercial bank continues to expand its core banking market share.
The interim report and accounts of the bank for the three months ended 31 March 2026, released on the Nigerian Exchange, showed that gross earnings rose from N315.42bn in the first quarter of 2025 to N434.95bn in the corresponding period of 2026, representing an increase of 37.9 per cent.
The top-line performance was driven by impressive growth in the bank’s core business operations, with interest income rising 22.8 per cent to N314.48bn in Q1 2026, compared to N256.10bn in Q1 2025. With net interest income at N180.97bn, the bank closed the period with a profit before tax of N92.48bn.
After taxes, net profit stood at N74.47bn for the three months. Earnings per share remained high at N5.69, underlining the capacity of the bank to reward its shareholders.
The balance sheet of the bank also emerged stronger as total assets crossed the N11tn mark to N11.35tn by March 2026, compared with N10.46tn recorded in December 2025. Customers’ deposits increased from N6.89tn to N7.38tn. Total equity rode on the back of earnings growth to post a 27.5 per cent increase from N1.09tn in December 2025 to N1.39tn by March 2026.
The Q1 2026 results further consolidated the strong earnings outlook of the bank, which completed its recapitalisation amid an impressive earnings performance in 2025. Fidelity Bank had recorded double-digit growth in interest and non-interest income, as well as key balance sheet items, during the year ended 31 December 2025.
The audited report showed that gross earnings rose from N1.04tn in 2024 to N1.52tn in 2025, an increase of 45.6 per cent. Interest and similar income grew 38.7 per cent from N803.1bn in 2024 to N1.11tn in 2025. Fees and commission income also rose 44.7 per cent from N78.4bn to N113.4bn. The bank recorded a net profit after tax of N242.4bn in 2025.
The bank’s balance sheet emerged stronger, with total assets rising 18.6 per cent to N10.46tn in 2025, as against N8.82tn in 2024. Customer deposits increased 16.1 per cent from N5.94tn to N6.89tn, reflecting continued franchise strength and an improved funding profile. Meanwhile, net loans and advances declined 2.4 per cent to N4.28tn in 2025, as against N4.39tn in 2024, which was attributable to customers paying down their mature obligations.
The bank in 2025 strengthened its capital position, with eligible capital rising to N561bn, above the regulatory minimum of N500bn for banks with international authorisation. In addition, capital adequacy remained robust, with a capital adequacy ratio of 30.94 per cent by December 2025, as against 23.47 per cent by December 2024.
The Managing Director of Fidelity Bank Plc, Dr Nneka Onyeali-Ikpe, said the Q1 2026 results reinforced the bank’s strong and resilient business model. She noted that with the remarkable success of its recapitalisation programme and continuing expansion, Fidelity Bank had entered a new era of growth and impressive 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.
