Fidelity Bank Plc has reported gross earnings of N434.95 billion for the first quarter ended March 31, 2026, representing a 37.9 per cent increase from N315.42 billion recorded in the same period of 2025.
Profit Before Tax Rises to N92.48bn
The international commercial bank's unaudited results, released at the Nigerian Exchange (NGX), showed interest income grew by 22.8 per cent to N314.48 billion, up from N256.10 billion in Q1 2025. Profit before tax stood at N92.48 billion, while net profit after tax settled at N74.47 billion.
Earnings per share remained strong at N5.69, underscoring the bank's capacity to reward shareholders.
Balance Sheet Strengthens
Total assets crossed the N11 trillion mark for the first time, reaching N11.35 trillion by March 2026, compared to N10.46 trillion in December 2025. Customer deposits increased from N6.89 trillion to N7.38 trillion, while total equity rose 27.5 per cent to N1.39 trillion.
Recapitalisation Complete
The bank had successfully completed its recapitalisation programme in 2025, with eligible capital rising to N561 billion, above the N500 billion regulatory minimum for international authorisation. Capital adequacy ratio stood at 30.94 per cent by December 2025.
Managing Director, Dr. Nneka Onyeali-Ikpe, said the results reinforce the bank's resilient business model.
"We are on a stronger footing and confident that we will set new growth records," she said.
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According to a Bloomberg report, Nigerian banks are benefiting from improved capital buffers and rising yields. The Central Bank of Nigeria has maintained its recapitalisation drive to strengthen the financial sector.