Fidelity Bank Plc recorded a strong financial performance in the first quarter of 2026, with gross earnings rising by 37.9 per cent to N434.95 billion, compared with N315.42 billion recorded in the corresponding period of 2025. The growth reflects the bank’s continued expansion in core banking operations and increasing market share within the Nigerian banking sector.
According to the bank’s interim report and accounts for the three months ended March 31, 2026, the strong top-line performance was largely driven by growth in interest income, which increased by 22.8 per cent to N314.48 billion, up from N256.10 billion in the first quarter of 2025. With net interest income standing at N180.97 billion, Fidelity Bank posted a profit before tax of N92.48 billion, while profit after tax came in at N74.47 billion. Earnings per share remained robust at N5.69, highlighting the bank’s capacity to continue delivering value to shareholders.
The bank also recorded significant growth across key balance sheet indicators. Total assets rose above the N11 trillion mark to N11.35 trillion by March 2026, compared with N10.46 trillion as at December 2025. Customers’ deposits increased from N6.89 trillion to N7.38 trillion, while shareholders’ funds strengthened considerably, with total equity rising by 27.5 per cent from N1.09 trillion to N1.39 trillion, supported by strong earnings growth.
The first-quarter performance further reinforces Fidelity Bank’s positive earnings outlook following the successful completion of its recapitalisation programme and strong financial results in 2025. The bank had earlier recorded double-digit growth across interest income, non-interest income and major balance sheet lines for the year ended December 31, 2025.
Its audited 2025 results showed that gross earnings increased by 45.6 per cent to N1.52 trillion, from N1.04 trillion in 2024. Interest and similar income rose by 38.7 per cent 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.
The balance sheet remained resilient, with total assets rising by 18.6 per cent to N10.46 trillion in 2025 from N8.82 trillion in 2024. Customer deposits grew by 16.1 per cent from N5.94 trillion to N6.89 trillion, reflecting continued customer confidence, franchise strength and an improved funding profile. Net loans and advances, however, declined slightly by 2.4 per cent to N4.28 trillion, due largely to repayments of maturing customer obligations.
Fidelity Bank also strengthened its capital position during the period, with eligible capital increasing to N561 billion, above the regulatory minimum requirement of N500 billion for banks with international authorisation. Its Capital Adequacy Ratio remained strong at 30.94 per cent as of December 2025, compared with 23.47 per cent in the previous year.
Commenting on the results, Managing Director and Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, said the bank’s first-quarter 2026 performance reflects the strength and resilience of its business model. She noted that following the success of the bank’s recapitalisation and continued business expansion, Fidelity Bank has entered a new phase of growth with strong prospects for 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.
