Fidelity Bank Grows Q1 Gross Earnings By 38% To N434.95bn

Fidelity Bank Plc has recorded a 37.9 per cent increase in gross earnings to N434.95 billion in the first quarter (Q1) of 2026, underscoring the lender’s sustained growth momentum and stronger earnings capacity.

The bank’s interim report and accounts for the three months ended March 31, 2026, released on the Nigerian Exchange (NGX), showed that gross earnings rose from N315.42 billion recorded in the corresponding period of 2025 to N434.95 billion in Q1 2026.

The strong top-line performance was driven by growth in the bank’s core business operations, with interest income increasing by 22.8 per cent to N314.48 billion in Q1 2026 from N256.10 billion in Q1 2025.

Net interest income stood at N180.97 billion, while profit before tax rose to N92.48 billion. Profit after tax for the period stood at N74.47 billion, with earnings per share closing at N5.69.

The bank also strengthened its balance sheet during the period, as total assets rose to N11.35 trillion by March 2026, up from N10.46 trillion in December 2025.

Customers’ deposits increased from N6.89 trillion to N7.38 trillion, while total equity rose by 27.5 per cent from N1.09 trillion in December 2025 to N1.39 trillion by March 2026, driven largely by earnings growth.

The Q1 2026 performance further reinforced the bank’s positive earnings outlook following the successful completion of its recapitalisation programme in 2025.

The bank had earlier reported double-digit growth in both interest and non-interest income, as well as key balance sheet indicators, for the 2025 financial year.

Its capital position also strengthened significantly in 2025, with eligible capital rising to N561 billion, above the regulatory minimum requirement of N500 billion for banks with international authorisation.

The Capital Adequacy Ratio (CAR) improved to 30.94 per cent by December 2025, from 23.47 per cent in December 2024.

Managing director and chief executive officer of the bank, Nneka Onyeali-Ikpe, said the Q1 2026 results reflected the resilience and strength of the bank’s business model.

According to her, the success of the recapitalisation exercise and the bank’s ongoing expansion strategy have positioned the institution for stronger growth and improved 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 said.