Fidelity Bank Plc has reported a 37.9 per cent increase in gross earnings to N434.95 billion for the first quarter ended March 31, 2026, driven by strong growth in its core banking operations.
The bank’s unaudited financial results released on the Nigerian Exchange (NGX) showed that gross earnings rose from N315.42 billion recorded in the corresponding period of 2025 to N434.95 billion in Q1 2026.
The lender attributed the strong performance to growth in interest income, which increased by 22.8 per cent from N256.10 billion in Q1 2025 to N314.48 billion in the review period.
Net interest income stood at N180.97 billion, while profit before tax closed at N92.48 billion. Profit after tax for the three-month period was N74.47 billion, with earnings per share at N5.69.
The bank also posted improvements across key balance sheet indicators. Total assets rose to N11.35 trillion by March 2026, compared with N10.46 trillion in December 2025. Customers’ deposits increased from N6.89 trillion to N7.38 trillion during the period.
Shareholders’ funds also strengthened significantly, with total equity rising by 27.5 per cent from N1.09 trillion in December 2025 to N1.39 trillion by the end of the first quarter of 2026.
The Q1 performance builds on the bank’s strong 2025 financial year, during which it successfully completed its recapitalisation programme and recorded robust growth across major income lines.
According to its audited 2025 results, gross earnings grew by 45.6 per cent from N1.04 trillion in 2024 to N1.52 trillion in 2025. Interest and similar income rose from N803.1 billion to N1.11 trillion, while fees and commission income increased from N78.4 billion to N113.4 billion. Net profit after tax for the 2025 financial year stood at N242.4 billion.
The bank’s balance sheet also strengthened in 2025, with total assets rising by 18.6 per cent from N8.82 trillion in 2024 to N10.46 trillion. Customer deposits increased by 16.1 per cent from N5.94 trillion to N6.89 trillion, reflecting what the bank described as sustained franchise strength and improved funding profile.
However, net loans and advances declined marginally by 2.4 per cent to N4.28 trillion in 2025 from N4.39 trillion in the previous year, which the bank attributed to repayments of matured customer obligations.
Fidelity Bank also improved its capital position in 2025, with eligible capital increasing to N561 billion, above the regulatory minimum requirement of N500 billion for banks with international authorisation. Its Capital Adequacy Ratio rose to 30.94 per cent in December 2025 from 23.47 per cent in December 2024.
Commenting on the first quarter performance, Managing Director and Chief Executive Officer of Nneka Onyeali-Ikpe, said the results reflected the resilience of the bank’s business model.
She stated that the successful recapitalisation exercise and continued expansion had positioned the 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.
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