By Chukwuma Umeorah
Fidelity Bank Plc grew its total assets to N11.35 trillion in the first quarter of 2026, as the lender recorded higher earnings, deposits and shareholders’ funds during the three-month period ended March 31, 2026. The bank’s interim report filed with the Nigerian Exchange (NGX) showed that total assets increased from N10.46 trillion in December 2025, while customer deposits rose from N6.89 trillion to N7.38 trillion within the review period.
Gross earnings rose by 37.9 per cent to N434.95 billion in the first quarter of 2026, compared with N315.42 billion recorded in the corresponding period of 2025. Interest income increased by 22.8 per cent to N314.48 billion from N256.10 billion.
Net interest income stood at N180.97 billion, while profit before tax was N92.48 billion. Profit after tax closed at N74.47 billion for the quarter, with earnings per share at N5.69. Shareholders’ funds also increased by 27.5 per cent from N1.09 trillion at the end of December 2025 to N1.39 trillion by March 2026, supported by retained earnings growth.
The first quarter performance followed the bank’s stronger full-year earnings in 2025, during which it completed its recapitalisation programme and maintained capital levels above the regulatory requirement for banks with international authorisation.
Its audited financial statement for the year ended December 31, 2025 showed gross earnings rose by 45.6 per cent to N1.52 trillion from N1.04 trillion in 2024. Interest income increased to N1.11 trillion from N803.1 billion, while fees and commission income rose to N113.4 billion from N78.4 billion.
Profit after tax for the 2025 financial year stood at N242.4 billion. The bank’s total assets had increased by 18.6 per cent to N10.46 trillion in 2025 from N8.82 trillion in 2024, while customer deposits rose by 16.1 per cent to N6.89 trillion.
Managing Director of Fidelity Bank Plc, Nneka Onyeali-Ikpe, said the first quarter results reflected the bank’s operating position following the completion of its recapitalisation exercise.
“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.
Net loans and advances, however, 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.
The bank also reported that eligible capital rose to N561 billion in 2025, above the N500 billion minimum regulatory requirement for international banks. Capital adequacy ratio stood at 30.94 per cent as of December 2025, compared with 23.47 per cent a year earlier.
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