Fidelity Bank Plc has continued its impressive growth trajectory, adding a massive N1.63 trillion to its balance sheet within the first quarter of 2025. The bank’s total assets rose from N8.82 trillion in December 2024 to N10.45 trillion by March 31, 2025, placing it firmly among Nigeria’s top seven banks by asset size.
The surge in assets, confirmed in regulatory filings approved by the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), and the Nigerian Exchange (NGX), highlights Fidelity Bank’s status as one of the country’s fastest-growing and most resilient financial institutions.
Backed by robust fundamentals, the bank saw a 11.1% increase in customer deposits during the period. Deposits grew from N5.94 trillion at the end of December 2024 to N6.6 trillion in Q1 2025. Notably, low-cost deposits accounted for N6.1 trillion, representing 92.2% of total deposits — a significant show of customer confidence in the bank’s services.
Shareholders also had reason to cheer. Fidelity Bank’s shareholders’ funds rose from N897.87 billion in December 2024 to N933.14 billion by the end of March 2025, driven largely by improved profitability.
Profit before tax jumped by an impressive 167.8%, from N39.5 billion in Q1 2024 to N105.8 billion in Q1 2025. Gross earnings climbed 64.2% year-on-year to N315.4 billion, up from N192.1 billion in the same period last year.
The bank’s performance has not gone unnoticed on the stock market. Fidelity Bank’s share price has gained 18.86% year-to-date — more than double the average return in the banking sector and nearly triple the NGX’s overall market return of 6.59%. The NGX Banking Index is up by 8.24% in the same period.
Market analysts say the bank’s strong asset base, impressive earnings, and consistent returns are fueling positive sentiment from both existing shareholders and prospective investors.
Investor interest is also being matched by insider confidence. A recent NGX report revealed that a top executive at Fidelity Bank acquired shares worth over N366 million, further increasing their equity stake. The bank also topped trading activity on the NGX this week.
Under Nigerian capital market regulations, insiders — including directors and staff — are permitted to buy shares in their companies, provided such transactions occur outside the “closed period” surrounding the release of financial results, and are properly disclosed to the market.
Fidelity’s strong financial performance also aligns with findings from an International Monetary Fund (IMF) study, which showed that banks with solid balance sheets were better positioned to sustain lending during economic crises. According to the IMF, such strength is crucial to recovery and stability, and aligns with global best practices under the Basel III regulatory framework.
The bank’s revenue mix also showed positive signs, with non-interest income rising due to gains from foreign exchange transactions, trade finance, and service commissions. Meanwhile, interest income benefited from a 38.6% expansion in earning assets.
As Fidelity Bank continues to outperform its peers and consolidate investor trust, its Q1 performance sets a strong tone for the rest of the year — with both institutional and insider stakeholders doubling down on their support.
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