Fidelity Bank Reports Stellar Q1 2025 Performance, PBT Soars by 167.8% to N105.8 Billion

Fidelity Bank Plc has delivered a record-breaking performance for the first quarter of 2025, posting a Profit Before Tax (PBT) of N105.8 billion. This represents a remarkable 167.8% surge compared to N39.5 billion recorded in the corresponding period of 2024.

According to the bank’s unaudited financial statements submitted to the Nigerian Exchange (NGX) on April 30, 2025, Fidelity Bank’s Gross Earnings climbed to N315.4 billion, up 64.2% year-on-year from N192.1 billion in Q1 2024. The growth was driven by a robust 38.6% YoY rise in the bank’s earning assets base and significant contributions from non-interest income, which included foreign exchange gains, trade commissions, and other banking services.

Commenting on the impressive results, Dr. Nneka Onyeali-Ikpe, OON, Managing Director/Chief Executive Officer, stated, “We started the year with triple-digit growth in profit and sustained the momentum in our earning assets growth. This performance highlights the resilience of our business model and reinforces our confidence in delivering an even stronger result for the 2025 financial year.”

Total Deposits: Grew by 11.1% year-to-date to N6.6 trillion from N5.9 trillion in December 2024. Low-cost deposits accounted for 92.2% of total deposits, underscoring customer confidence.

Foreign Currency Deposits: Increased by 21.4% from $1.9 billion in December 2024 to $2.3 billion.

Net Loans and Advances: Rose by 5.0% year-to-date to N4.6 trillion, with a focus on local currency lending as the bank continues to optimize risk management. The cost of risk declined to 0.6%, down from 1.5% in FY 2024.

Dr. Onyeali-Ikpe added, “Beginning the year with such positive momentum strengthens our resolve to support the growth ambitions of individuals and businesses while ensuring long-term sustainability. As we move further into 2025, we remain focused on building a resilient banking franchise with a diversified earnings base.”

Fidelity Bank Plc serves over 9.1 million customers through a robust digital banking platform, 255 business offices in Nigeria, and an international presence via its UK subsidiary, FidBank UK Limited. The bank continues to garner numerous awards for digital innovation, SME banking, and excellence in financial services, positioning it as one of Nigeria’s most trusted financial institutions.