By Peace Udugba
Fidelity Bank Plc has recorded a 37.9 per cent increase in gross earnings to N434.95 billion in the first quarter of 2026, as the bank continued to strengthen its core banking operations and expand its market share.
According to the bank’s interim report and accounts for the three months ended March 31, 2026, gross earnings rose from N315.42 billion recorded in the corresponding period of 2025 to N434.95 billion in Q1 2026.
The strong performance was driven largely by growth in the bank’s core business operations, with interest income increasing by 22.8 per cent from N256.10 billion in Q1 2025 to N314.48 billion in Q1 2026.
The bank posted a net interest income of N180.97 billion and recorded a profit before tax of N92.48 billion during the period. Profit after tax stood at N74.47 billion, while earnings per share remained strong at N5.69, reflecting the bank’s capacity to deliver value to shareholders.
Fidelity Bank’s balance sheet also showed significant improvement during the review period. Total assets crossed the N11 trillion mark, rising to N11.35 trillion by March 2026 from N10.46 trillion recorded in December 2025.
Customers’ deposits increased from N6.89 trillion to N7.38 trillion, while total equity grew by 27.5 per cent from N1.09 trillion in December 2025 to N1.39 trillion by March 2026.
The Q1 2026 performance further strengthened the bank’s earnings outlook following the successful completion of its recapitalisation programme in 2025.
The bank had earlier posted impressive full-year results for 2025, with gross earnings rising by 45.6 per cent from N1.04 trillion in 2024 to N1.52 trillion in 2025. Interest and similar income grew by 38.7 per cent to N1.11 trillion, while fees and commission income increased by 44.7 per cent from N78.4 billion to N113.4 billion.
Net profit after tax for the 2025 financial year stood at N242.4 billion.
Its balance sheet also remained strong, with total assets increasing by 18.6 per cent to N10.46 trillion in 2025 from N8.82 trillion in 2024. Customer deposits rose by 16.1 per cent from N5.94 trillion to N6.89 trillion, reflecting sustained customer confidence and improved funding structure.
Net loans and advances, however, declined slightly by 2.4 per cent from N4.39 trillion in 2024 to N4.28 trillion in 2025, mainly due to repayments of matured obligations by customers.
The bank also strengthened its capital base in 2025, with eligible capital rising to N561 billion, above the regulatory minimum requirement of N500 billion for banks with international authorisation.
Its Capital Adequacy Ratio stood at 30.94 per cent in December 2025, compared to 23.47 per cent in December 2024.
Managing Director and Chief Executive Officer of Fidelity Bank, Nneka Onyeali-Ikpe, said the first quarter 2026 performance reaffirmed the strength and resilience of the bank’s business model.
According to her, the successful recapitalisation exercise and continued business expansion have positioned the bank for stronger growth and higher 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 stated.
