Fidelity Bank Plc has reported a 37.9% increase in gross earnings for the first quarter of 2026, reaching N434.95 billion, as the international commercial bank continues to strengthen its core banking market share. The interim report and accounts for the three months ended March 31, 2026, released at the Nigerian Exchange (NGX), show that gross earnings rose from N315.42 billion in the first quarter of 2025.
This top-line performance was driven by impressive growth in the bank’s core business operations, with interest incomes climbing 22.8% to N314.48 billion in the first quarter of 2026, compared to N256.10 billion in the same period last year. Net interest income stood at N180.97 billion, allowing the bank to close the period with a profit before tax of N92.48 billion. After taxes, net profit reached N74.47 billion for the three-month period. Earnings per share remained high at N5.69, underscoring the bank’s capacity to reward its shareholders.
The balance sheet also emerged stronger, with total assets crossing the N11 trillion mark to N11.35 trillion by March 2026, up from N10.46 trillion recorded in December 2025. Customer deposits increased from N6.89 trillion to N7.38 trillion, while total equity rose 27.5% from N1.09 trillion in December 2025 to N1.39 trillion by March 2026. This first-quarter performance further consolidated the bank’s strong earnings outlook, following a successful recapitalisation and impressive earnings performance in 2025.
In the 2025 financial year, Fidelity Bank recorded double-digit growth in interest and non-interest incomes, as well as key balance sheet items. The audited report showed gross earnings rising from N1.04 trillion in 2024 to N1.52 trillion in 2025, a 45.6% increase. Interest and similar incomes grew by 38.7% from N803.1 billion to N1.11 trillion, while fees and commission incomes rose 44.7% from N78.4 billion to N113.4 billion. Net profit after tax for 2025 stood at N242.4 billion.
The bank’s balance sheet strengthened further, with total assets increasing 18.6% to N10.46 trillion in 2025, compared to N8.82 trillion in 2024. Customer deposits grew 16.1% from N5.94 trillion to N6.89 trillion, reflecting continued franchise strength and an improved funding profile. Meanwhile, broader economic developments, including the Naira hitting a four-week high against the dollar, have influenced market sentiment. In related news, Obi accuses Ecowas of inaction following the Guinea-Bissau incident, not another ambush tax controversy, as Ecowas moves to cut trade barriers across the region.
