Fidelity Bank’s Gross Earnings Rise 38% to N434.95 billion in Q1 2026

Fidelity Bank Plc reported a 37.9 % rise in gross earnings, reaching N434.95 billion for the first quarter of 2026, as the international commercial bank continued to grow its core banking market share.

The interim report and accounts for the three months ended March 31 2026, filed with the Nigerian Exchange (NGX), show that gross earnings increased from N315.42 billion in the first quarter of 2025 to N434.95 billion in the first quarter of 2026.

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

Net interest income stood at N180.97 billion, and the bank closed the period with a profit before tax of N92.48 billion. After taxes, net profit was N74.47 billion for the three‑month period. 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 threshold, reaching N11.35 trillion by March 2026, up from N10.46 trillion at the end of 2025. Customer deposits grew from N6.89 trillion to N7.38 trillion.

Total equity increased by 27.5 % from N1.09 trillion in December 2025 to N1.39 trillion by March 2026, driven by earnings growth.

The Q1 2026 results reinforce the bank’s strong earnings outlook, following a successful recapitalisation and robust performance in 2025. Fidelity Bank posted double‑digit growth in interest and non‑interest income, as well as key balance‑sheet items, during the year ended December 31 2025.

The audited report shows gross earnings rising from N1.04 trillion in 2024 to N1.52 trillion in 2025, a 45.6 % increase. Interest and similar income grew 38.7 % from N803.1 billion in 2024 to N1.11 trillion in 2025. Fees and commission income increased 44.7 % from N78.4 billion to N113.4 billion. Net profit after tax was N242.4 billion in 2025.

The balance sheet strengthened further, with total assets up 18.6 % to N10.46 trillion in 2025, compared with N8.82 trillion in 2024. Customer deposits rose 16.1 % from N5.94 trillion to N6.89 trillion, reflecting continued franchise strength and an improved funding profile.

Net loans and advances fell 2.4 % to N4.28 trillion in 2025 from N4.39 trillion in 2024, as customers paid down mature obligations.

In 2025, the bank strengthened its capital position, 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 % by December 2025, up from 23.47 % in December 2024.

Managing Director Dr. Nneka Onyeali‑Ikpe said the first‑quarter 2026 results reinforce 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.