Fidelity Bank Plc reported a 37.9% jump in gross earnings in the first quarter of 2026, reaching N434.95 billion, as the international commercial lender continues to build share in its core banking markets. The lender’s latest interim results, published for the three months ended March 31, 2026, were released on the Nigerian Exchange (NGX).
First-quarter performance: earnings and profitability rise
Fidelity Bank said gross earnings increased from N315.42 billion in the first quarter of 2025 to N434.95 billion in the first quarter of 2026, representing the 37.9% year-on-year expansion.
The bank attributed the top-line improvement to strong growth in its core revenue streams, particularly interest income. Interest incomes climbed by 22.8% to N314.48 billion in the first quarter of 2026, up from N256.10 billion in the corresponding quarter of 2025.
- Net interest income closed the period at N180.97 billion.
- Profit before tax came in at N92.48 billion.
- Net profit after tax was N74.47 billion for the three-month period.
- Earnings per share remained at N5.69, highlighting the bank’s ability to generate returns for shareholders.
Balance sheet strengthening: assets, deposits and equity grow
The interim report also showed a stronger balance sheet profile. Total assets rose above the N11 trillion threshold, increasing to N11.35 trillion by March 2026 from N10.46 trillion recorded in December 2025.
Funding improved as customers’ deposits increased from N6.89 trillion to N7.38 trillion over the same period.
Equity expanded alongside earnings, with total equity growing by 27.5%—from N1.09 trillion at December 2025 to N1.39 trillion by March 2026.
Full-year context: recapitalisation and 2025 momentum
The bank said the first-quarter results further reinforce its earnings outlook, following the successful completion of its recapitalisation effort and strong performance during 2025.
For the year ended December 31, 2025, Fidelity Bank reported that both interest and non-interest income, along with key balance sheet items, recorded double-digit growth.
- Gross earnings increased from N1.04 trillion in 2024 to N1.52 trillion in 2025, up 45.6%.
- Interest and similar incomes rose 38.7%, from N803.1 billion in 2024 to N1.11 trillion in 2025.
- Fees and commission incomes grew by 44.7%, rising from N78.4 billion to N113.4 billion.
- Net profit after tax reached N242.4 billion in 2025.
On the assets side, the bank noted total assets increased by 18.6% to N10.46 trillion in 2025, compared with N8.82 trillion in 2024. Customer deposits also expanded by 16.1% from N5.94 trillion to N6.89 trillion, reflecting continued franchise strength and a stronger funding position.
Meanwhile, net loans and advances fell by 2.4% to N4.28 trillion in 2025 from N4.39 trillion in 2024, which the bank linked to customers paying down mature obligations.
Capital position and management view
Fidelity Bank also highlighted progress in its capital base during 2025. Eligible capital increased to N561 billion, exceeding the regulatory minimum of N500 billion applicable to banks with international authorisation.
Capital adequacy remained strong, with the Capital Adequacy Ratio at 30.94% as of December 2025, compared with 23.47% as of December 2024.
Managing Director Dr. Nneka Onyeali-Ikpe said the first-quarter 2026 results confirm the resilience of the bank’s business model. She added that the recapitalisation programme’s success and continued expansion have positioned Fidelity Bank for a new growth phase with strong returns.
Onyeali-Ikpe said: “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.”
