Fidelity Bank Plc Reports 38% Growth in Q1 2026 Gross Earnings to ₦434.9 Billion
Abayomi Susan
Leading financial institution Fidelity Bank Plc has announced a strong financial performance for the first quarter ended March 31, 2026, recording a 38% year-on-year increase in gross earnings to ₦434.9 billion, compared to ₦315.4 billion posted in the corresponding period of 2025.
According to the Bank’s financial statements released on the Nigerian Exchange (NGX) on May 25, 2026, the impressive performance was driven by sustained growth across major income lines. Interest and similar income rose by 20.3% to ₦353.3 billion, supported by improved yields on earning assets and increased transaction volumes.
Non-interest revenue also recorded significant growth, with fees and commission income increasing by 39.7% to ₦33.3 billion. The growth was largely attributed to higher digital transaction volumes, increased ATM usage, and expanding trade-related services. In addition, foreign exchange-related gains contributed positively to earnings, as foreign currency revaluation income surged to ₦48 billion from ₦9.8 billion recorded in the previous year.
The Bank posted a profit before tax of ₦92.5 billion and a profit after tax of ₦74.5 billion, underscoring its resilience and ability to deliver sustainable returns while continuing to invest in future growth initiatives.
Total assets expanded to ₦11.4 trillion, up from ₦10.5 trillion as of December 2025, reflecting growth across key business segments and disciplined balance sheet management. In line with its prudent risk management strategy, the Bank also enhanced its credit risk buffers through increased provisioning to support long-term asset quality amid prevailing economic conditions.
Recognized among Nigeria’s leading financial institutions, Fidelity Bank Plc serves over 10 million customers through its digital banking platforms, 255 business offices across Nigeria, and its United Kingdom subsidiary, FidBank UK Limited.
The Bank has received several local and international recognitions, including the 2024 Excellence in Digital Transformation & MSME Banking Award at the BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application Award by Global Business Outlook for the Fidelity Mobile App; and the 2024 Most Innovative Investment Banking Service Provider Award by Global Brands Magazine. It was also named Best Bank for SMEs in Nigeria at the Euromoney Awards for Excellence and Export Financing Bank of the Year at the BAFI Awards.
