Fidelity Bank has reported a 45 percent increase in gross earnings for the financial year ended December 31, 2025, supported by growth in interest income, higher customer deposits, and stronger liquidity levels.
According to the 2025 audited financial statement released on the Nigerian Exchange Group (NGX), the bank’s gross earnings rose to N1.52 trillion in 2025 from N1.04 trillion in 2024. Interest and similar income increased by 38.7 percent to N1.11 trillion, while other interest income rose by 25.1 percent to N184.51 billion.
Read also: Fidelity Bank achieves N564.5bn capital base after successful Private Placement
Net interest income climbed by 32 percent to N831.35 billion from N629.77 billion, supported by higher yields on interest-earning assets. The bank also improved its credit risk management as credit loss expense moderated to N21.61 billion from N56.44 billion, leading to a 41.2 percent rise in net interest income after credit losses to N809.74 billion.
Non-interest income also strengthened during the period. Fee and commission income grew by 44.7 percent to N113.36 billion, while other operating income increased by 200.5 percent to N8.24 billion. Foreign currency revaluation gains surged by 749.9 percent to N99.58 billion from N11.72 billion, reflecting gains from exchange rate movements.
The bank’s investment portfolio expanded significantly, with debt instruments measured at fair value through other comprehensive income (FVOCI) rising by 199 percent to N557.78 billion. Debt instruments at amortised cost increased by 27.2 percent to N1.97 trillion, while equity instruments at FVOCI rose by 26.2 percent to N87.85 billion.
Despite the strong revenue growth, rising funding and operating costs pressured profitability. Interest expense increased by 45.6 percent to N467.17 billion from N320.82 billion, reflecting the higher cost of deposits and borrowings in Nigeria’s high-interest-rate environment. Fee and commission expenses also rose sharply by 147 percent to N19.86 billion.
The bank recorded a significant shift in derivative positions, incurring a derivative loss of N223.79 billion compared to a gain of N57.88 billion in 2024. Personnel expenses increased by 9.7 percent to N80.56 billion, while depreciation, amortisation and impairment charges rose by 79.3 percent to N27.49 billion. Other operating expenses also climbed by 38.2 percent to N335.29 billion.
As a result of these cost pressures, profit after tax also fell by 12.8 percent to N242.44 billion, while earnings per share dropped by 11 percent to 580 kobo from 652 kobo.
Total comprehensive income declined by 23.8 percent to N252.46 billion, while retained earnings dropped by 6.4 percent to N173.46 billion.
Liquidity and balance sheet strength also improved during the year. Cash and cash equivalents increased by 87 percent to N1.32 trillion, while total assets rose by 18.6 percent to N10.46 trillion. Customer deposits climbed by 16.1 percent to N6.89 trillion, indicating sustained deposit mobilisation and customer confidence.
Shareholders’ funds crossed the N1 trillion mark as total equity rose by 21.1 percent to N1.09 trillion from N897.87 billion.
The bank disclosed that it completed a private placement of 12.9 billion ordinary shares in December 2025, raising fresh capital that increased eligible capital to N532.6 billion, above the Central Bank of Nigeria’s N500 billion minimum requirement for banks with international authorisation.
The exercise increased total issued shares from 50.2 billion units to 63.17 billion units, significantly boosting shareholders’ funds beyond the N1 trillion threshold.
Further breakdown of the bank’s statement revealed that statutory reserves increased by 32.7 percent, while non-distributable regulatory reserves rose by 92.5 percent.
The bank also expanded investments in infrastructure and technology. Property, plant and equipment increased by 161.6 percent to N203.72 billion, while intangible assets rose by 147.5 percent to N50.44 billion.
The bank’s loan book also moderated slightly, with loans and advances to customers declining by 2.4 percent to N4.28 trillion from N4.39 trillion. Total liabilities, however, increased by 18.3 percent to N9.38 trillion, largely driven by growth in customer deposits and other liabilities.
Read also: Fidelity Bank completes N500bn capital raise ahead of deadline
Fidelity began the year with a share price of N19.00 and closed at N21.9 on Monday, gaining 15.3 percent year-to-date on the NGX.
The bank is currently the 25th most valuable stock on the NGX with a market capitalisation of N1.1 trillion, which is about 0.686 percent of the Nigerian Stock Exchange equity market.