L-R: Kevin Ugwuoke, Executive Director, Risk Management; Stanley Amuchie, Executive Director/Chief Operations and Information Officer; Dr Nneka Onyeali-Ikpe, Managing Director/Chief Executive Officer; Mrs 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, held in Lagos and virtually.
Susan Abayomi
Shareholders of Fidelity Bank Plc have commended the Board and Management for strengthening the bank’s capital base, improving asset quality and sustaining earnings growth despite prevailing economic challenges.
The commendation came during the bank’s 38th Annual General Meeting (AGM), held virtually on Friday, October 9, 2026, where shareholders expressed confidence in its financial performance and strategic direction.
Speaking at the meeting, Bisi Bakare, National Coordinator of the Pragmatic Shareholders Association of Nigeria, highlighted the bank’s non-performing loan (NPL) ratio of 2.4 per cent and capital adequacy ratio of approximately 16.1 per cent as evidence of its financial resilience.
Bakare noted that the bank’s financial indicators, alongside its reported customer base of 16 million, provided reasons for shareholders to support its leadership.
Similarly, Boniface Okezie, Chairman of the Progressive Shareholders Association, praised the Board and Management for successfully completing the bank’s capital-raising exercise, which strengthened its financial position and placed it above the minimum capital requirement for banks with international authorisation.
Fidelity Bank completed a N227.05 billion private placement in December 2025, increasing its eligible capital from N305.5 billion to N532.6 billion. The development positioned the bank above the N500 billion minimum capital threshold applicable to banks with international authorisation.
Presenting the bank’s performance, Board Chairman, Mrs Amaka Onwughalu, reaffirmed its commitment to building a sustainable institution capable of delivering long-term value to shareholders and other stakeholders.
She explained that the bank’s strategy remained anchored on trust, innovation and shared progress, with an emphasis on strengthening its operations, improving adaptability and creating lasting economic and social impact.
The bank’s 2025 financial results reflected significant growth in earnings, with gross earnings rising by 45.6 per cent to N1.52 trillion from N1.04 trillion recorded in 2024.
Profit before tax stood at N347.7 billion, while profit after tax reached N242.4 billion, reflecting the bank’s performance during the financial year.
Fidelity Bank also recorded improvements in key asset quality indicators. Its non-performing loan ratio declined to 2.4 per cent from 3.1 per cent, while its loan coverage ratio increased to 203.9 per cent from 138.4 per cent.
The bank’s liquidity ratio stood at 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.
Managing Director and Chief Executive Officer, Dr Nneka Onyeali-Ikpe, said the bank remained committed to strengthening its resilience, deepening customer relationships and creating sustainable value for shareholders, employees and the communities it serves.
She added that the institution would continue to make financial services more accessible and convenient for customers while building a stronger foundation for long-term growth.
The bank’s financial statements also received an unmodified audit opinion from Deloitte & Touche, its external auditors. The auditors stated that the consolidated and separate financial statements fairly presented the bank’s financial position, performance and cash flows in accordance with applicable reporting standards and Nigerian laws.
During the AGM, shareholders received the audited financial statements and reports from the Directors, External Auditors, Statutory Audit Committee and Independent Board Appraisal Consultants for the financial year ended December 31, 2025.
The meeting also considered the election of Dr Jonathan Ososuakpor as a Non-Executive Director and the re-election of Mrs Amaka Onwughalu to the same position. Shareholders were also informed of the retirement by rotation of Chief Nelson Nweke as a Non-Executive Director.
Other resolutions covered the authorisation of 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.
Shareholders urged the bank’s leadership to sustain its performance, strengthen its competitiveness and continue improving returns on their investments.
Fidelity Bank Plc operates as a commercial deposit money bank, providing financial services through digital banking platforms and its business offices across Nigeria, as well as its United Kingdom subsidiary, FidBank UK Limited.
The bank has received several local and international recognitions for its contributions to retail banking, small and medium-sized enterprise support, export and trade finance, innovation and community development.
