By Seun Ibiyemi
Fidelity Bank Plc recorded a 37.9 per cent increase in gross earnings to N434.95 billion in the first quarter of 2026, reflecting continued expansion in its core banking operations.
The bank disclosed this in its interim report and accounts for the three months ended March 31, 2026, released on the Nigerian Exchange.
According to the report, gross earnings rose from N315.42 billion recorded in the corresponding period of 2025 to N434.95 billion in the review period.
The growth was driven mainly by improved performance in the bank’s core business operations as interest income increased by 22.8 per cent to N314.48 billion, compared to N256.10 billion posted in the first quarter of 2025.
Fidelity Bank recorded a net interest income of N180.97 billion and closed the quarter with a profit before tax of N92.48 billion.
Profit after tax stood at N74.47 billion for the period, while earnings per share settled at N5.69, highlighting the bank’s strong returns to shareholders.
The bank’s balance sheet also showed significant improvement during the period under review.
Total assets rose above the N11 trillion mark to N11.35 trillion by March 2026, compared with N10.46 trillion recorded at the end of December 2025.
Customers’ deposits increased from N6.89 trillion to N7.38 trillion, while shareholders’ funds climbed by 27.5 per cent from N1.09 trillion in December 2025 to N1.39 trillion in March 2026.
The first quarter performance further strengthened the bank’s earnings outlook following the successful completion of its recapitalisation programme in 2025.
Fidelity Bank had earlier posted strong financial results for the 2025 financial year, recording double-digit growth across major income lines and key balance sheet indicators.
Its audited report showed that gross earnings rose by 45.6 per cent from N1.04 trillion in 2024 to N1.52 trillion in 2025.
Interest and similar income increased from N803.1 billion to N1.11 trillion during the period, while fees and commission income grew by 44.7 per cent from N78.4 billion to N113.4 billion.
The bank also posted a net profit after tax of N242.4 billion for the 2025 financial year.
Total assets expanded by 18.6 per cent from N8.82 trillion in 2024 to N10.46 trillion in 2025, while customer deposits rose by 16.1 per cent from N5.94 trillion to N6.89 trillion.
However, net loans and advances declined by 2.4 per cent to N4.28 trillion in 2025 from N4.39 trillion in 2024, which the bank attributed to repayments of matured obligations by customers.
Fidelity Bank also strengthened its capital base in 2025, with eligible capital increasing to N561 billion, above the N500 billion regulatory minimum requirement for banks with international authorisation.
Its Capital Adequacy Ratio stood at 30.94 per cent as of December 2025, compared with 23.47 per cent recorded a year earlier.
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Commenting on the results, the Managing Director and Chief Executive Officer of Fidelity Bank Plc, Nneka Onyeali-Ikpe, said the first quarter performance reflected the resilience and strength of the bank’s business model.
She noted 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.
