Fidelity Bank Plc recorded a 37.9 per cent increase in gross earnings, reaching N434.95 billion in the first quarter of 2026.

This is as the bank continues to expand its core banking market share.

The interim report and accounts of Fidelity Bank for the three months ended March 31, 2026 and released at the Nigerian Exchange (NGX) showed that gross earnings rose from N315.42 billion in first quarter of 2025 to N434.95 billion in first quarter of 2026, representing a 37.9 per cent increase.

The performance was driven by impressive growth in the bank’s core business operations with interest incomes rising by 22.8 per cent to N314.48 billion in the first quarter of 2026 as against N256.10 billion in the first quarter of 2025. 

With a net interest income of N180.97 billion, the bank closed the first quarter with profit before tax of N92.48 billion. 

After taxes, the net profit stood at N74.47 billion for the three-month period, as earnings per share remained high at N5.69.

The bank’s balance sheet also emerged stronger, while its total assets crossed the N11 trillion mark to N11.35 trillion by March 2026 compared with N10.46 trillion recorded in December 2025. 

Customers’ deposits also increased from N6.89 trillion to N7.38 trillion, as total equity rode on the back of earnings growth to a 27.5 per cent increase from N1.09 trillion in December 2025 to N1.39 trillion by March 2026.

The first quarter of 2026 results further consolidated the strong earnings outlook of the bank, which had successfully completed its recapitalisation in 2025.  

The bank had recorded double-digit growths in interest and non-interest incomes as well as key balance sheet items during the year ended December 31, 2025.

The audited report showed that gross earnings rose from N1.04 trillion in 2024 to N1.52 trillion in 2025, an increase of 45.6 per cent. 

Interest and similar incomes had grown by 38.7 per cent from N803.1 billion in 2024 to N1.11 trillion in 2025, while fees and commission incomes rose by 44.7 per cent from N78.4 billion to N113.4 billion. 

The bank also recorded net profit after tax of N242.4 billion in 2025, as the its balance sheet emerged stronger with total assets rising by 18.6 per cent to N10.46 trillion in 2025 as against N8.82 trillion in 2024. 

Customer deposits increased by 16.1 per cent from N5.94 trillion to N6.89 trillion, reflecting continued franchise strength and an improved funding profile. Net loans and advances meanwhile, declined by 2.4 per cent to N4.28 trillion in 2025 as against N4.39 trillion in 2024, attributable to customers paying down on their mature obligations.

The bank had in 2025 strengthened its capital position, with eligible capital rising to N561 billion, above the regulatory minimum of N500 billion for banks with international authorisation.

 In addition, capital adequacy had remained robust, with a capital adequacy ratio of 30.94 per cent by December 2025 as against 23.47 per cent recorded in December 2024.

The bank’s managing director, Nneka Onyeali-Ikpe, said the first quarter results reinforced the bank’s strong and resilient business model.

She noted that with the remarkable success of its recapitalisation programme and continuing expansion, the bank had entered a new era of growth and impressive 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,” Ms Onyeali-Ikpe said.