Fidelity Bank has grown gross earnings by 38% to N434.95bn in Q1 2026.
NewsOnline Nigeria reports that Fidelity Bank Plc recorded a 37.9 per cent increase in gross earnings to N434.95 billion in the first quarter of 2026, as the lender sustained growth across its core banking operations and expanded its market presence.
According to the bank’s interim financial report for the three months ended March 31, 2026, gross earnings rose from N315.42 billion recorded in the corresponding period of 2025 to N434.95 billion.
The strong performance was driven largely by growth in interest income, which climbed by 22.8 per cent from N256.10 billion in Q1 2025 to N314.48 billion in Q1 2026.
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The bank posted a net interest income of N180.97 billion, while profit before tax stood at N92.48 billion. After tax, net profit settled at N74.47 billion for the period under review.
Earnings per share also remained strong at N5.69, reflecting the bank’s capacity to deliver returns to shareholders.
Fidelity Bank’s balance sheet further strengthened during the quarter, with total assets crossing the N11 trillion mark to close at N11.35 trillion as of March 2026, compared to N10.46 trillion recorded in December 2025.
Customer deposits also increased from N6.89 trillion to N7.38 trillion within the period, while total equity rose significantly by 27.5 per cent from N1.09 trillion in December 2025 to N1.39 trillion by March 2026.
The Q1 2026 performance builds on the bank’s strong earnings momentum in 2025, during which it successfully completed its recapitalisation exercise.
The bank had earlier reported that its gross earnings grew by 45.6 per cent from N1.04 trillion in 2024 to N1.52 trillion in 2025.
Interest and similar income increased by 38.7 per cent from N803.1 billion in 2024 to N1.11 trillion in 2025, while fees and commission income rose by 44.7 per cent from N78.4 billion to N113.4 billion.
Net profit after tax for the 2025 financial year stood at N242.4 billion.
Its balance sheet also strengthened in 2025, with total assets increasing by 18.6 per cent from N8.82 trillion in 2024 to N10.46 trillion in 2025.
Customer deposits rose by 16.1 per cent from N5.94 trillion to N6.89 trillion, reflecting sustained customer confidence and improved funding capacity.
Meanwhile, net loans and advances declined slightly by 2.4 per cent to N4.28 trillion in 2025, compared to N4.39 trillion in 2024, largely due to repayments of matured obligations by customers.
The bank also improved its capital base in 2025, with eligible capital rising to N561 billion, surpassing the regulatory minimum requirement of N500 billion for banks with international authorisation.
Its Capital Adequacy Ratio also strengthened to 30.94 per cent by December 2025, up from 23.47 per cent recorded in December 2024.
Speaking on the performance, the Managing Director and Chief Executive Officer of Fidelity Bank, Nneka Onyeali-Ikpe, described the Q1 2026 result as a reflection of the bank’s resilient business model and strategic growth drive.
According to her, the successful recapitalisation programme and ongoing expansion initiatives have positioned the bank 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 stated.
