Fidelity Bank Plc recorded gross earnings of N434.95 billion in the first quarter of 2026, representing a 37.9 per cent increase from N315.42 billion posted in the corresponding period of 2025.
The strong performance was driven largely by growth in the bank’s core lending business, according to the bank’s interim financial results released on the Nigerian Exchange Limited (NGX).
Fidelity Bank’s interest income rose by 22.8 per cent to N314.48 billion in Q1 2026, compared to N256.10 billion recorded in Q1 2025.
The bank posted a net interest income of N180.97 billion during the three-month period, helping to lift profitability despite prevailing economic pressures.
Profit before tax stood at N92.48 billion, while profit after tax came in at N74.47 billion.
Earnings per share remained strong at N5.69, underlining the bank’s profitability and shareholder return potential.
The bank also recorded growth across key balance sheet indicators.
Total assets rose to N11.35 trillion as of March 2026, up from N10.46 trillion in December 2025.
Customer deposits increased from N6.89 trillion to N7.38 trillion, reflecting continued customer confidence and deposit mobilisation strength.
Shareholders’ funds also expanded significantly, with total equity rising by 27.5 per cent from N1.09 trillion at the end of 2025 to N1.39 trillion by March 2026.
Nneka Onyeali-Ikpe, Managing Director and Chief Executive Officer of Fidelity Bank, said the Q1 performance reflects the resilience of the bank’s business model and the benefits of its successful recapitalisation programme.
“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,” she said.
According to Onyeali-Ikpe, the bank’s recapitalisation and business expansion strategy have positioned it for sustained growth and stronger returns.
The Q1 results build on Fidelity Bank’s strong full-year 2025 performance.
The bank had earlier reported:
- Gross earnings of N1.52 trillion in 2025, up 45.6 per cent from N1.04 trillion in 2024
- Interest income growth of 38.7 per cent to N1.11 trillion
- Fees and commission income increase of 44.7 per cent to N113.4 billion
- Net profit after tax of N242.4 billion
Its balance sheet also strengthened in 2025, with total assets rising to N10.46 trillion and customer deposits growing to N6.89 trillion.
The bank’s capital position improved significantly after recapitalisation, with eligible capital rising to N561 billion, above the regulatory minimum requirement for banks with international authorisation.
Fidelity Bank also maintained a strong Capital Adequacy Ratio of 30.94 per cent as of December 2025, compared to 23.47 per cent a year earlier.
