L – R: Kevin Ugwuoke, Executive Director, Risk Management; Stanley Amuchie, Executive Director/Chief Operations and Information Officer; Nneka Onyeali-Ikpe, Managing Director/Chief Executive Officer; Amaka Onwughalu, Chairman, Board of Directors; Ezinwa Unuigboje, Company Secretary; Henry Obih, Independent Non-Executive Director; and Ken Opara, Executive Director, Lagos and Southwest; (all of Fidelity Bank Plc) at the Bank’s 38th Annual General Meeting which held in Lagos and virtually recently.
By Peace Udugba — The Daily Torch Media
Shareholders of Fidelity Bank Plc have commended the bank’s Board and Management for strengthening its capital base, improving asset quality and sustaining earnings growth despite challenging operating conditions.
The shareholders gave the commendation at the bank’s 38th Annual General Meeting (AGM), held virtually on Friday, October 9, 2026.
During the meeting, Bisi Bakare, National Coordinator of the Pragmatic Shareholders Association of Nigeria, highlighted the bank’s improved asset quality, customer base and capital adequacy ratio as evidence of its financial resilience.
Bakare cited the non-performing loan (NPL) ratio of 2.4 per cent, customer base of 16 million and capital adequacy ratio of approximately 16.1 per cent as reasons for shareholders to maintain confidence in the bank’s leadership.
“The figures demonstrate that the Bank remains strong,” she said, expressing support for the Board and Management.
Similarly, Boniface Okezie, Chairman of the Progressive Shareholders Association, commended the bank for successfully completing its capital-raising exercise and exceeding the minimum capital requirement for banks with international authorisation.
He said the exercise had strengthened confidence in the bank’s future and its ability to deliver sustainable returns to investors.
Fidelity Bank Raises Capital to N532.6bn
Fidelity Bank completed a N227.05 billion private placement in December 2025, increasing its eligible capital from N305.5 billion to N532.6 billion.
The capital raise positioned the bank above the N500 billion minimum capital requirement applicable to banks with international authorisation under Nigeria’s banking sector recapitalisation programme.
Presenting the bank’s performance, Board Chairman, Mrs Amaka Onwughalu, said the institution remained committed to building a stronger, more agile and sustainable organisation capable of delivering long-term value.
She emphasised the importance of trust, innovation and shared progress in strengthening the bank’s operations and ensuring its resilience in a changing business environment.
Gross Earnings Rise 45.6% to N1.52trn
Fidelity Bank’s 2025 financial statements showed a significant increase in earnings, with gross earnings rising by 45.6 per cent to N1.52 trillion from N1.04 trillion recorded in 2024.
Profit before tax stood at N347.7 billion, while profit after tax reached N242.4 billion.
The bank also reported improvements in key asset-quality indicators, with its non-performing loan ratio declining to 2.4 per cent from 3.1 per cent.
Its loan-loss coverage ratio increased to 203.9 per cent from 138.4 per cent, indicating stronger coverage against potential credit losses.
Liquidity stood at 66.5 per cent, significantly above the regulatory minimum of 30 per cent, while total equity increased to N1.09 trillion from N897.9 billion.
The figures underscore the bank’s reported progress in earnings growth, capital strength and risk management.
Onyeali-Ikpe Reaffirms Focus on Sustainable Growth
Managing Director and Chief Executive Officer, Dr Nneka Onyeali-Ikpe, said the bank’s strategy remained focused on strengthening its resilience, deepening customer relationships and delivering sustainable value to stakeholders.
She said the institution was committed to making financial services more accessible and convenient while building a stronger organisation for its shareholders, employees and the communities it serves.
The bank’s external auditors, Deloitte & Touche, issued an unmodified opinion on its financial statements for the year ended December 31, 2025.
According to the report presented at the AGM, the consolidated and separate financial statements fairly represented the bank’s financial position, financial performance and cash flows in accordance with applicable reporting standards and Nigerian laws.
Shareholders Approve Key Governance Matters
At the meeting, shareholders received the audited financial statements and the 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 further noted the retirement by rotation of Chief Nelson Nweke as a Non-Executive Director.
Other matters included authorising the Directors to determine the remuneration of the External Auditors 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 trajectory, strengthen its competitive position and continue improving returns to investors.
Fidelity Bank Expands Digital and International Reach
Fidelity Bank Plc is a commercial deposit money bank serving customers through digital banking platforms and its business offices in Nigeria, alongside its United Kingdom subsidiary, FidBank UK Limited.
The bank has received several local and international recognitions for its banking services, support for small and medium-sized enterprises, trade finance and community development.
Among the awards listed by the bank are the 2025 Development Bank of Nigeria Innovation Award for MSME support, recognition for retail and SME banking, and awards at the 2025 BusinessDay Banks and Financial Institutions Awards.
It also received recognition at the 2025 Euromoney Awards, alongside other industry honours for innovation, SME banking, payment processing and community empowerment.
The latest shareholder commendation comes as Fidelity Bank seeks to consolidate its earnings growth, maintain stronger capital buffers and deepen its position in Nigeria’s competitive banking industry.
Tags: Fidelity Bank, Fidelity Bank AGM 2026, Nneka Onyeali-Ikpe, Amaka Onwughalu, Nigerian banks, bank recapitalisation, Nigerian banking sector, 2025 financial results, shareholders, banking news
