By Ayomide Otitoju
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 amid a challenging operating environment.
The shareholders expressed their support at the bank’s 38th Annual General Meeting, held virtually on Friday, October 9, 2026.
Speaking at the meeting, Bisi Bakare, National Coordinator of the Pragmatic Shareholders Association of Nigeria, cited the bank’s non-performing loan (NPL) ratio of 2.4 per cent and capital adequacy ratio of about 16.1 per cent as indicators of its financial resilience.
“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,” Bakare said.
Boniface Okezie, Chairman of the Progressive Shareholders Association, also commended the bank’s leadership for completing its capital-raising exercise and positioning the institution above the new regulatory minimum.
“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, increasing its eligible capital from N305.5 billion to N532.6 billion. The exercise placed the bank above the N500 billion minimum capital requirement for banks with international authorisation.
Presenting the bank’s performance, Board Chairman Amaka Onwughalu said the institution remained focused on building a stronger and more sustainable business capable of delivering long-term value.
“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 bank’s 2025 financial statements showed that gross earnings rose by 45.6 per cent to N1.52 trillion, compared with N1.04 trillion in 2024. Profit before tax stood at N347.7 billion, while profit after tax reached N242.4 billion.
Asset quality indicators also improved, with the NPL ratio declining to 2.4 per cent from 3.1 per cent, while the loan loss coverage ratio increased to 203.9 per cent from 138.4 per cent.
The bank’s liquidity ratio stood at 66.5 per cent, above the regulatory minimum of 30 per cent, while total equity increased to N1.09 trillion from N897.9 billion.
Managing Director and Chief Executive Officer Nneka Onyeali-Ikpe said the bank’s strategy remained focused on strengthening resilience, deepening customer relationships and delivering sustainable value to stakeholders.
“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,” Onyeali-Ikpe said.
External auditors Deloitte & Touche issued an unmodified opinion on the bank’s accounts, stating that its 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 year ended December 31, 2025.
They also considered the election of Jonathan Ososuakpor as a non-executive director and the re-election of Onwughalu as a non-executive director. The meeting also noted the retirement by rotation of Nelson Nweke as a non-executive director.
Other matters included authorising the directors to determine the external auditors’ remuneration for the 2026 financial year, disclosing the remuneration of the bank’s managers and electing members of the Statutory Audit Committee.
The shareholders urged the Board and Management to sustain the bank’s performance, strengthen its market competitiveness and improve returns to investors.
Fidelity Bank Plc is a commercial deposit money bank serving customers through digital banking channels, 255 business offices in Nigeria and its United Kingdom subsidiary, FidBank UK Limited.
The bank has received several local and international awards, including the 2025 Development Bank of Nigeria Innovation Award for MSME support, the Best Retail and SME Bank Award from Independent Newspapers, and the Best Bank for Export and Trade Finance and Most Innovative Bank of the Year awards at the 2025 BusinessDay Banks and Financial Institutions Awards.
It also received Nigeria’s Best Private Bank award at the 2025 Euromoney Awards, the Most Improved Commercial Bank of the Year award from Nairametrics, the SME Bank of the Year award from NewsDirect and the Straight-Through Processing Excellence Award from Citi Group. Global Brands Magazine also recognised the bank for excellence in community empowerment.
