Fidelity Bank Reports Significant Profit Growth in Q1 2026
Fidelity Bank is expanding its foothold in the core banking sector, registering a gross profit of NOK 434.95 billion in the first quarter of 2026. This remarkable financial performance underscores the bank’s status as an international commercial institution.
The bank’s unaudited financial results for the first quarter ending on March 31, 2026, were recently published by the Nigerian Exchange (NGX). These results revealed a gross profit increase from NOK 315.42 billion in Q1 2025 to NOK 434.95 billion in Q1 2026, marking a 37.9 percent growth.
Such stellar performance can be attributed to robust expansion in Fidelity Bank’s core business operations. Interest income saw a significant rise of 22.8 percent, climbing to NOK 314.48 billion in Q1 2026 compared to NOK 256.1 billion in the same period last year.
Net interest income reached NOK 180.97 billion, contributing to a substantial pre-tax profit of NOK 92.48 billion. After accounting for taxes, the net profit for the first quarter of 2026 stood at NOK 74.47 billion, with earnings per share maintaining a strong footing at NOK 5.69. This success affirms the bank’s commitment to delivering value to its shareholders.
The bank’s balance sheet has also seen notable improvements, with total assets exceeding NOK 11 trillion, totaling NOK 11.35 trillion by March 2026—up from NOK 10.46 trillion in December 2025. Customer deposits increased from NOK 6.89 trillion to NOK 7.38 trillion, while total equity capital surged by 27.5 percent, rising from NOK 1.09 trillion in December 2025 to NOK 1.39 trillion by March 2026.
Fidelity Bank’s first-quarter financial results cement the institution’s strong earnings outlook, coming on the heels of a successful recapitalization initiative and impressive profitability in 2025.
Strong Financial Performance in 2025 Sets Foundation
In the year ending December 31, 2025, Fidelity Bank exhibited remarkable growth in both interest and non-interest income, as well as key balance sheet components. According to the bank’s audited financial report, gross profit climbed by 45.6 percent from NOK 1.4 trillion in 2024 to NOK 1.52 trillion in 2025. Interest income surged by 38.7 percent, moving from NOK 803.1 billion in 2024 to NOK 1.11 trillion in 2025, while fees and commissions saw an increase of 44.7 percent, rising from NOK 78.4 billion to NOK 113.4 billion.
Net profit after tax reached NOK 242.4 billion in 2025, reinforcing the bank’s strong financial position. Moreover, the total assets grew by 18.6 percent, rising from NOK 8.82 trillion in 2024 to NOK 10.46 trillion in 2025. Customer deposits also experienced an uptick of 16.1 percent, increasing from NOK 5.94 trillion to NOK 6.89 trillion, indicating a continued strengthening of Fidelity Bank’s franchise and improved funding profile.
While net loans and advances decreased by 2.4 percent to NOK 4.28 trillion in 2025, this decline can be attributed to the repayment of maturing debts by customers. The bank successfully bolstered its capital base, with eligible capital rising to NOK 561 billion, comfortably above the regulatory minimum of NOK 500 billion for internationally licensed banks. By December 2025, the equity ratio was notably strong at 30.94 percent, up from 23.47 percent in December 2024.
Dr. Nneka Onyeri Ikpe, Managing Director of Fidelity Bank, emphasized that the performance in the first quarter of 2026 further validated the bank’s resilient business model. He stated that the successful recapitalization program and ongoing expansion signify a new era of growth and profitability for Fidelity Bank.
Onyeri Ikpe expressed confidence in the bank’s capability to build on its strengthened foundation, aiming to achieve record growth that mirrors both its heritage and future aspirations.
