Fidelity Bank shareholders hail 45.6% earnings growth, stronger capital base

By Adebola Muili

Shareholders of Fidelity Bank Plc have commended the Board and Management for recording a 45.6 per cent increase in gross earnings to N1.52 trillion in 2025, alongside improvements in asset quality and capital strength despite challenging operating conditions.

The shareholders gave the commendation at the bank’s 38th Annual General Meeting, held virtually on Friday, October 9, 2026, where they reviewed its financial performance for the year ended December 31, 2025, and expressed confidence in its capacity to sustain growth and deliver returns to investors.

Speaking at the meeting, the National Coordinator of the Pragmatic Shareholders Association of Nigeria, Bisi Bakare, highlighted the bank’s non-performing loan ratio of 2.4 per cent and capital adequacy ratio of about 16.1 per cent as evidence of its financial resilience.

L – R: Kevin Ugwuoke, Executive Director, Risk Management; Stanley Amuchie, Executive Director/Chief Operations and Information Officer; Nneka Onyeali-Ikpe, Managing Director/Chief Executive Officer; Amaka Onwughalu, Chairman, Board of Directors; Ezinwa Unuigboje, Company Secretary; Henry Obih, Independent Non-Executive Director; and Ken Opara, Executive Director, Lagos and Southwest; (all of Fidelity Bank Plc) at the Bank’s 38th Annual General Meeting which held in Lagos and virtually recently.

Bakare said the indicators, alongside the bank’s expanding customer base, demonstrated the strength of its operations and justified shareholders’ confidence in its leadership.

“The figures demonstrate that the Bank remains strong. With a non-performing loan ratio of 2.4 per cent, a customer base of 16 million and a capital adequacy ratio of 16.1 per cent, shareholders have reasons to support the Board and Management,” she said.

Another shareholder, the Chairman of the Progressive Shareholders Association, Boniface Okezie, commended the bank’s leadership for completing its capital-raising exercise and positioning the institution above the new regulatory minimum capital requirement for banks with international authorisation.

“We commend the Board and Management for the successful capital-raising exercise. This gives us greater confidence in the future of the Bank and its capacity to deliver sustainable value to shareholders,” Okezie said.

Fidelity Bank completed a N227.05 billion private placement in December 2025, raising its eligible capital from N305.5 billion to N532.6 billion, above the N500 billion minimum capital requirement for banks operating with international authorisation.

The bank’s financial results showed that gross earnings rose from N1.04 trillion in 2024 to N1.52 trillion in 2025, representing a 45.6 per cent increase. Profit before tax stood at N347.7 billion, while profit after tax was N242.4 billion.

Its asset quality also improved during the period, with the non-performing loan ratio declining from 3.1 per cent to 2.4 per cent. The loan coverage ratio increased from 138.4 per cent to 203.9 per cent, indicating stronger provisioning against potential loan losses.

The bank further reported a liquidity ratio of 66.5 per cent, significantly above the regulatory minimum of 30 per cent, while total equity rose to N1.09 trillion from N897.9 billion.

Presenting the bank’s performance, the Board Chairman, Mrs Amaka Onwughalu, said the institution remained committed to building a sustainable business capable of delivering long-term value to its shareholders and other stakeholders.

“At Fidelity Bank, we are building for the long term by creating lasting value through trust, innovation and shared progress. Guided by purpose and responsibility, we are building a stronger, more agile and more sustainable institution, one designed to thrive through change and deliver enduring impact for generations,” Onwughalu said.

The Managing Director and Chief Executive Officer, Dr Nneka Onyeali-Ikpe, said the bank would continue to prioritise customer relationships, accessible financial services and institutional resilience.

“Our focus remains on making financial services easy and accessible to our customers while building a stronger institution for shareholders, employees and the communities we serve,” she said.

The bank’s financial statements received an unmodified audit opinion from its external auditors, Deloitte & Touche, which stated that the consolidated and separate financial statements fairly presented its financial position, performance and cash flows in accordance with applicable reporting standards and Nigerian laws.

At the meeting, shareholders received the audited financial statements and reports of the Directors, External Auditors, Statutory Audit Committee and Independent Board Appraisal Consultants for the financial year ended December 31, 2025.

They also considered the election of Dr Jonathan Ososuakpor as a Non-Executive Director and the re-election of Onwughalu to the same position. The meeting further noted the retirement by rotation of Chief Nelson Nweke as a Non-Executive Director.

Other resolutions and business included authorising the Directors to determine the remuneration of the external auditors for the 2026 financial year, disclosure of management remuneration and the election of members of the Statutory Audit Committee.

The shareholders urged the Board and Management to sustain the bank’s growth trajectory, strengthen its competitiveness and improve returns to investors.

Fidelity Bank Plc is a commercial deposit money bank serving customers through digital banking channels and its network of 255 business offices in Nigeria, as well as its United Kingdom subsidiary, FidBank UK Limited.