Fidelity Bank has reported a 18.6 percent to N10.46 trillion its total assets in the full-year 2025 financial statement, its highest level in 15 years, driven by expansion in investment securities, improved asset quality and a stable funding base.
The bank’s audited financial statement for the year ended December 31, 2025 showed that the expansion from N8.82 trillion in 2024, reflecting growth across major asset classes and reinforcing its balance sheet strength.
Nneka Onyeali-Ikpe, MD/CEO of Fidelity Bank Plc commenting on the results, stated that “We have remained focused on prudent management of our balance sheet, having made good progress in building a stable and balanced funding base, which has enabled us to position the bank for opportunities in both Nigeria and the UK.”
“Although the Group’s profit declined moderately by 9.7% to N347.7bn due to derivative loss of N223.8bn, our UK subsidiary recorded a positive operating profit and remains on track to make a sustainable positive contribution to the Group’s overall profitability in the periods ahead,” the CEO added.
A major contributor to asset growth was the sharp increase in liquidity buffers, with cash and cash equivalents rising by 87 percent to N1.32 trillion from N707.45 billion. Restricted balances with the Central Bank of Nigeria (CBN) also increased to N1.65 trillion from N1.59 trillion, underscoring the lender’s strong liquidity position.
The bank’s liquidity ratio stood at 66.5 percent, more than double the 30 percent minimum regulatory threshold, highlighting a strong capacity to meet short-term obligations and fund business expansion.
Investment assets also recorded substantial growth as Fidelity deepened exposure to income-generating securities. Debt instruments measured at fair value through other comprehensive income surged by 199 percent to N557.78 billion from N186.57 billion, while debt instruments at amortised cost rose by 27.2 percent to N1.97 trillion from N1.55 trillion. Equity instruments at fair value through other comprehensive income increased by 26.2 percent to N87.85 billion.
The improvement in asset quality was evident in the bank’s risk metrics. Credit loss expense declined significantly to N21.61 billion from N56.44 billion, while cost of risk improved to 0.5 percent from 1.5 percent. Non-performing loan ratio, measured by Stage 3 loans, dropped to 2.4 percent from 3.1 percent in 2024, reflecting healthier loan book performance and stronger credit risk management.
This stronger asset quality supported earnings performance, with net interest income after credit losses rising by 41.2 percent to N809.74 billion from N573.33 billion, while net interest income increased by 32 percent to N831.35 billion.
According to the chief executive, net interest margin improved to 12.3 percent from 12 percent in 2024, as growth in yield on earning assets outpaced the increase in funding costs. Average yield on earning assets rose by 108 basis points to 19.2 percent, supported by stronger pricing in loans and investment assets, while average funding cost rose to 6.1 percent.
During the period, customer deposits grew by 16.1 percent to N6.89 trillion from N5.94 trillion, driven by a 14.4 percent increase in low-cost deposits, including demand, savings, and domiciliary accounts, supporting improved margins and balance sheet stability. Foreign currency deposits also rose by 4 percent year-on-year.
Gross earnings rose by 45.6 percent to N1.52 trillion from N1.04 trillion, driven by growth in interest income and non-interest revenue. The bank said interest income growth reflected improved pricing in loans and investments as well as deployment of newly raised capital, while non-interest revenue was supported by stronger foreign exchange income, trade income, digital banking income, and credit-related fees.
Other asset categories also recorded strong expansion. Other assets rose by 76.4 percent to N278.89 billion, property, plant, and equipment increased by 161.6 percent to N203.72 billion, while intangible assets climbed by 147.5 percent to N50.44 billion, reflecting continued investment in infrastructure and technology. Deferred tax assets also rose significantly to N33.10 billion from N5.31 billion.
Capital strength also improved, with shareholders’ funds rising by 21.1 percent to N1.09 trillion. Capital adequacy ratio stood at 16.2 percent, above the regulatory requirement. The bank disclosed that it completed a private placement of 12.9 billion ordinary shares in December 2025, raising fresh capital that increased eligible capital to N532.6 billion, above the Central Bank of Nigeria’s N500 billion minimum requirement for banks with international authorisation.
The exercise increased total issued shares from 50.2 billion units to 63.17 billion units, significantly boosting shareholders’ funds beyond the N1 trillion threshold.
The lender said proceeds from the capital raise would be deployed to support expansion while maintaining capital buffers above regulatory thresholds.
Fidelity began the year with a share price of N19.00 and closed at N21.9 on Monday, gaining 15.3 percent year-to-date on the NGX.
The bank is currently the 25th most valuable stock on the NGX with a market capitalisation of N1.1 trillion, which is about 0.686 percent of the Nigerian Stock Exchange equity market
