Shareholders of Fidelity Bank Plc have commended the Board and Management for strengthening the bank’s capital base, improving asset quality and sustaining earnings growth despite challenging operating conditions.
The commendation came at the bank’s 38th Annual General Meeting (AGM), held virtually on Friday, October 9, 2026.
Bisi Bakare, National Coordinator of the Pragmatic Shareholders Association of Nigeria, cited the bank’s non-performing loan (NPL) ratio of 2.4 per cent and capital adequacy ratio of approximately 16.1 per cent as evidence of its financial resilience.
“With a non-performing loan ratio of 2.4 per cent, a customer base of 16 million and a capital adequacy ratio of 16.1 per cent, shareholders have reasons to support the Board and Management,” Bakare said.
Similarly, Boniface Okezie, Chairman of the Progressive Shareholders Association, praised the bank’s successful capital-raising exercise, which positioned it above the regulatory minimum capital requirement for banks with international authorisation.
Fidelity Bank completed a N227.05 billion private placement in December 2025, raising its eligible capital from N305.5 billion to N532.6 billion, above the Central Bank of Nigeria’s N500 billion minimum requirement for banks with international authorisation.
Presenting the bank’s performance, Board Chairman, Mrs Amaka Onwughalu, said the institution remained committed to building a stronger and more sustainable business capable of delivering long-term value.
She said the bank’s strategy was anchored on trust, innovation and shared progress, with a focus on strengthening its capacity to navigate changes in the operating environment and deliver lasting impact.
The bank’s audited financial statements for the year ended December 31, 2025, showed that gross earnings rose by 45.6 per cent to N1.52 trillion, from N1.04 trillion in 2024.
Profit before tax stood at N347.7 billion, while profit after tax reached N242.4 billion.
Asset quality also improved, with the NPL ratio declining to 2.4 per cent from 3.1 per cent. The loan-loss coverage ratio increased to 203.9 per cent from 138.4 per cent, indicating stronger provisioning against potential credit losses.
The bank’s liquidity ratio stood at 66.5 per cent, above the regulatory minimum of 30 per cent, while total equity increased to N1.09 trillion from N897.9 billion.
Managing Director and Chief Executive Officer, Dr Nneka Onyeali-Ikpe, said the bank remained focused on strengthening its resilience, deepening customer relationships and delivering sustainable value to stakeholders.
“Our focus remains on making financial services easy and accessible to our customers while building a stronger institution for shareholders, employees and the communities we serve,” she said.
The bank’s external auditors, Deloitte & Touche, issued an unmodified opinion on its financial statements, confirming that the consolidated and separate accounts fairly presented its financial position, performance and cash flows in line with applicable reporting standards and Nigerian laws.
At the AGM, shareholders received the audited financial statements and reports of the Directors, External Auditors, Statutory Audit Committee and Independent Board Appraisal Consultants for the 2025 financial year.
They also considered the election of Dr Jonathan Ososuakpor as a Non-Executive Director and the re-election of Onwughalu to the board. The meeting also noted the retirement by rotation of Chief Nelson Nweke as a Non-Executive Director.
Other matters considered included authorising the Directors to determine the external auditors’ remuneration for the 2026 financial year, disclosure of management remuneration and the election of members of the Statutory Audit Committee.
Shareholders urged the board and management to sustain the bank’s growth momentum, strengthen its competitive position and improve returns to investors.
Fidelity Bank Plc is a commercial deposit money bank serving customers through digital channels and its 255 business offices in Nigeria, as well as its United Kingdom subsidiary, FidBank UK Limited.
The bank has received several local and international recognitions, including awards for MSME support, retail and SME banking, export and trade finance, innovation, private banking and community empowerment.
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