Fidelity Bank Plc recorded a 37.9 per cent increase in gross earnings to N434.95 billion in the first quarter of 2026, driven by growth in its core banking operations and an expanding market presence.
The bank disclosed this in its interim report and accounts for the three months ended March 31, 2026, released on the Nigerian Exchange Group platform.
According to the report, gross earnings rose from N315.42 billion recorded in the corresponding period of 2025 to N434.95 billion in Q1 2026.
The performance was largely supported by strong growth in interest income, which increased by 22.8 per cent to N314.48 billion from N256.10 billion recorded in the first quarter of 2025.
The bank posted net interest income of N180.97 billion and profit before tax of N92.48 billion during the period under review.
Profit after tax stood at N74.47 billion, while earnings per share closed at N5.69, reflecting the bank’s continued profitability and shareholder value.
Fidelity Bank’s balance sheet also recorded significant growth, with total assets rising above N11 trillion to N11.35 trillion as of March 2026, compared to N10.46 trillion in December 2025.
Customer deposits increased from N6.89 trillion to N7.38 trillion within the same period, while total equity rose by 27.5 per cent from N1.09 trillion to N1.39 trillion, supported by earnings growth.
The Q1 performance further strengthened the bank’s earnings outlook following the successful completion of its recapitalisation programme in 2025.
The bank had earlier reported strong full-year 2025 results, with gross earnings increasing 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 in 2025, while fees and commission income rose by 44.7 per cent to N113.4 billion.
Net profit after tax for the 2025 financial year stood at N242.4 billion.
Total assets also increased by 18.6 per cent to N10.46 trillion in 2025 from N8.82 trillion recorded in 2024, while customer deposits rose by 16.1 per cent from N5.94 trillion to N6.89 trillion.
The bank stated that its eligible capital increased to N561 billion in 2025, surpassing the regulatory minimum requirement of N500 billion for banks with international authorisation.
Capital Adequacy Ratio also improved to 30.94 per cent by December 2025, compared to 23.47 per cent recorded in December 2024.
Commenting on the results, the Managing Director and Chief Executive Officer of Fidelity Bank, Nneka Onyeali-Ikpe, said the Q1 2026 performance reflects the resilience of the bank’s business model and the success of its recapitalisation strategy.
According to her, the bank has entered a new phase of growth and stronger 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,” she said.
