Fidelity Bank be like, “Check out our sick financial growth, y’all!” So, they announced their first-quarter results for 2025, and it’s pretty impressive. Their Profit Before Tax (PBT) shot up by a whopping 167.8% to N105.8 billion, compared to N39.5 billion in Q1 2024. That’s some serious bankin’ right there!
The unaudited financial statements dropped on the Nigerian Exchange (NGX) on April 30, 2025, revealing a massive increase in Gross Earnings to N315.4 billion. This represents a 64.2% year-on-year growth from N192.1 billion in the same period last year. The bank saw a boost in interest income thanks to a 38.6% yoy (7.4% ytd) expansion in their earning assets base. Non-interest revenue also went up, fueled by FX-related income, trade, and commission on banking services, among other things.
Dr. Nneka Onyeali-Ikpe, the Managing Director/Chief Executive Officer of Fidelity Bank Plc, was like, “We’re killin’ it with our profit growth and earning assets. Our business model is rock solid, and we’re pumped to deliver even better results in 2025.”
The unaudited financial statements also showed improvements in other areas. Total Deposits grew by 11.1% ytd to N6.6tn from N5.9tn in December 2024. Low-cost deposits increased by 10.6% ytd to N6.1tn, making up 92.2% of total customer deposits. Local currency deposits went up by 2.0% ytd, while foreign currency deposits saw a 21.4% increase from $1.9bn to $2.3bn.
Net Loans and Advances rose by 5.0% ytd to N4.6tn. Most of the growth was in LCY Loans, and the cost of risk dropped to 0.6% from 1.5% in 2024FY. Onyeali-Ikpe was all like, “Starting the year strong shows we’re all about supporting peeps and businesses while keeping our finances in check. We’re gonna keep building up our banking game with diverse earnings.”
Fidelity Bank Plc is a top-tier Commercial Deposit Money Bank in Nigeria, serving over 9.1 million customers through digital channels and their 255 business offices in Nigeria. They also have a UK subsidiary, FidBank UK Limited, for all the Brits out there.
The bank has racked up some sweet awards, like the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions Awards, the 2024 Most Innovative Mobile Banking App award for their Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. They were also named Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions Awards.
In conclusion, Fidelity Bank is on fire with their financial growth, and they’re not slowing down anytime soon. Keep an eye on these guys ’cause they’re making moves in the banking world!
