Fidelity Bank Plc has recorded a 37.9 per cent jump in gross earnings to N434.95 billion in the first quarter of 2026, as the international commercial bank continued to consolidate its market position following a successful recapitalisation programme.

Interim results filed at the Nigerian Exchange showed earnings rising from N315.42 billion in the same period of 2025, driven largely by a 22.8 per cent growth in interest income to N314.48 billion. The bank closed the quarter with profit before tax of N92.48 billion and net profit after tax of N74.47 billion. Earnings per share stood at N5.69.

The bank’s balance sheet also strengthened considerably, with total assets crossing the N11 trillion mark to N11.35 trillion by March 2026, up from N10.46 trillion in December 2025. Customer deposits grew from N6.89 trillion to N7.38 trillion, while total equity surged 27.5 per cent to N1.39 trillion over the same period.

Managing Director Dr. Nneka Onyeali-Ikpe described the results as a validation of the bank’s business model and a springboard for an ambitious growth phase.

“We are on a stronger footing and confident that we will set new growth records that are reflective of our legacy and the future we are working on,” she said. Onyeali-Ikpe said the completion of the bank’s recapitalisation had positioned Fidelity for a new chapter of expansion and returns for shareholders, adding that the bank’s continuing growth reflected both its franchise strength and a clear strategy for the future.

The first quarter performance builds on an already strong 2025 outing. Full-year audited results showed gross earnings rising 45.6 per cent from N1.04 trillion in 2024 to N1.52 trillion in 2025, with net profit after tax reaching N242.4 billion. Interest income grew 38.7 per cent to N1.11 trillion, while fees and commission income rose 44.7 per cent to N113.4 billion. Total assets grew 18.6 per cent to N10.46 trillion.