Fidelity Bank’s First‑Quarter 2026 Earnings Rise 38% to N434.95 billion

Kayode Tokede  

Fidelity Bank Plc reported gross earnings of N434.95 billion in the first quarter (Q1) of 2026, as the international commercial bank continued to grow its core banking market share.

The unaudited report and accounts for Fidelity Bank (Q1) ending March 31, 2026, released at the Nigerian Exchange (NGX), show that gross earnings increased from N315.42 billion in Q1 2025 to N434.95 billion in Q1 2026, a rise of 37.9 percent.

The top-line performance was driven by strong growth in the bank’s core operations, with interest income up 22.8 percent to N314.48 billion in Q1 2026 compared with N256.10 billion in Q1 2025.

With net interest income of N180.97 billion, the bank closed the period with profit before tax of N92.48 billion. After taxes, net profit was N74.47 billion for Q1 2026. Earnings per share remained high at N5.69, underscoring the bank’s ability to reward shareholders.

The balance sheet also strengthened. Total assets surpassed the N11 trillion mark, reaching N11.35 trillion by March 2026 versus N10.46 trillion at the end of 2025. Customer deposits rose from N6.89 trillion to N7.38 trillion. Total equity grew 27.5 percent from N1.09 trillion in December 2025 to N1.39 trillion by March 2026.

The Q1 2026 results further solidified the bank’s robust earnings outlook, following a successful recapitalisation and strong performance in 2025.

During the year ended December 31, 2025, Fidelity Bank recorded double‑digit growth in interest and non‑interest incomes as well as key balance sheet items.

The audited report showed gross earnings rising from N1.04 trillion in 2024 to N1.52 trillion in 2025, an increase of 45.6 percent. Interest and similar incomes grew 38.7 percent from N803.1 billion in 2024 to N1.11 trillion in 2025. Fees and commission incomes increased 44.7 percent from N78.4 billion to N113.4 billion. The bank recorded net profit after tax of N242.4 billion in 2025.

The balance sheet strengthened further, with total assets up 18.6 percent to N10.46 trillion in 2025 versus N8.82 trillion in 2024. Customer deposits grew 16.1 percent from N5.94 trillion to N6.89 trillion, reflecting continued franchise strength and an improved funding profile. Net loans and advances fell 2.4 percent to N4.28 trillion in 2025 from N4.39 trillion in 2024, as customers paid down mature obligations.

The bank strengthened its capital position in 2025, with eligible capital rising to N561 billion, above the regulatory minimum of N500 billion for internationally authorised banks. Capital adequacy remained robust, with a Capital Adequacy Ratio of 30.94 percent by December 2025 versus 23.47 percent in December 2024.

Managing Director, Fidelity Bank Plc, Dr. Nneka Onyeali‑Ikpe, said the Q1 2026 results reinforced the bank’s strong and resilient business model.

She noted that, following the successful recapitalisation programme and continued expansion, Fidelity Bank has 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.