By Ayomide Otitoju
Fidelity Bank Plc has reported a 37.9 per cent increase in gross earnings to N434.95 billion in the first quarter of 2026, driven by strong growth in its core banking operations and expanding market share.
According to its interim financial statement for the three months ended March 31, 2026, released on the Nigerian Exchange (NGX), gross earnings rose from N315.42 billion in Q1 2025 to N434.95 billion in Q1 2026.
The growth was supported by a 22.8 per cent rise in interest income, which climbed to N314.48 billion from N256.10 billion recorded in the corresponding period of 2025.
Net interest income stood at N180.97 billion, while profit before tax rose to N92.48 billion. The bank posted a net profit of N74.47 billion after tax, with earnings per share at N5.69.
The balance sheet also strengthened during the period, with total assets rising above the N11 trillion mark to N11.35 trillion, up from N10.46 trillion in December 2025.
Customer deposits grew to N7.38 trillion from N6.89 trillion, while total equity increased by 27.5 per cent to N1.39 trillion from N1.09 trillion.
The performance builds on Fidelity Bank’s strong 2025 financial year, during which gross earnings rose 45.6 per cent to N1.52 trillion and net profit stood at N242.4 billion.
Commenting on the results, Managing Director/Chief Executive Officer of Fidelity Bank Plc, Nneka Onyeali-Ikpe, said the performance reflects the strength and resilience of the bank’s business model.
She added that the bank’s successful recapitalisation and ongoing expansion have positioned it for a new phase of growth and stronger returns
