Fidelity Bank recorded N1.52 trillion in gross earnings for the year ended December 31, 2025, a 45 percent increase from N1.04 trillion in 2024. The growth was driven by higher interest income, rising customer deposits, and improved liquidity levels, according to the bank's audited financial statements released on the Nigerian Exchange Group (NGX). Interest and similar income rose 38.7 percent to N1.11 trillion, while other interest income reached N184.51 billion, up 25.1 percent. Net interest income climbed 32 percent to N831.35 billion, supported by better yields on interest-earning assets.
The bank's credit risk management improved, with credit loss expenses falling to N21.61 billion from N56.44 billion, contributing to a 41.2 percent rise in net interest income after credit losses to N809.74 billion. Non-interest income also grew, with fee and commission income increasing 44.7 percent to N113.36 billion and other operating income up 200.5 percent to N8.24 billion. Foreign currency revaluation gains surged 749.9 percent to N99.58 billion from N11.72 billion.
Investment in debt instruments at fair value through other comprehensive income (FVOCI) jumped 199 percent to N557.78 billion, while debt instruments at amortised cost rose 27.2 percent to N1.97 trillion. Equity instruments at FVOCI increased 26.2 percent to N87.85 billion. Despite revenue gains, profitability declined due to rising costs. Interest expense rose 45.6 percent to N467.17 billion, and fee and commission expenses more than doubled, increasing 147 percent to N19.86 billion. A derivative loss of N223.79 billion was recorded, compared to a gain of N57.88 billion in 2024.
Personnel expenses increased 9.7 percent to N80.56 billion, while other operating expenses rose 38.2 percent to N335.29 billion. Depreciation, amortisation and impairment charges climbed 79.3 percent to N27.49 billion. Profit after tax fell 12.8 percent to N242.44 billion, and earnings per share dropped to 580 kobo from 652 kobo. Total comprehensive income declined 23.8 percent to N252.46 billion.
Total assets rose 18.6 percent to N10.46 trillion, and customer deposits increased 16.1 percent to N6.89 trillion. Shareholders' funds crossed N1 trillion, rising 21.1 percent to N1.09 trillion from N897.87 billion. This followed a private placement of 12.9 billion ordinary shares in December 2025, raising capital to N532.6 billion, above the Central Bank of Nigeria's N500 billion minimum for internationally authorised banks. The bank's issued shares increased from 50.2 billion to 63.17 billion. Property, plant and equipment rose 161.6 percent to N203.72 billion, and intangible assets increased 147.5 percent to N50.44 billion. Loans and advances to customers fell 2.4 percent to N4.28 trillion. Total liabilities rose 18.3 percent to N9.38 trillion.
Fidelity Bank grew its gross earnings by 45 percent while reporting a 12.8 percent drop in profit after tax, exposing the squeeze from soaring funding and derivative costs. The bank's N223.79 billion derivative loss, up from a gain of N57.88 billion, wiped out much of its revenue gains. Shareholders' funds crossed N1 trillion, but the capital boost came amid declining profitability. This raises questions about the sustainability of growth when cost pressures outpace income.
Editorial note: AI-assisted opinion, not established fact. Full disclaimer →
