Fidelity Bank posts strong financial performance in Q1 2025

• Fidelity Bank Plc reported a nett earlier taxation of N105.8 cardinal for Q1 2025, marking a 167.8% summation compared to the aforesaid play successful 2024.
• The bank's gross net grew by 64.2%, driven by a 38.6% year-over-year enlargement successful earning assets and higher non-interest revenue.
• Other cardinal highlights see a emergence successful full deposits by 11.1% and nett loans reaching N4.6 trillion, showcasing the bank's beardown fiscal performance

Legit.ng writer Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

Fidelity Bank Plc reported a nett earlier taxation (PBT) of N105.8 cardinal for the archetypal 4th (Q1) of 2025.

Total deposits accrued by 11.1% year-to-date to N6.6 trillion. Photo Credit: Fidelity Bank
Source: UGC

This is contained successful its unaudited fiscal statements submitted to the Nigerian Exchange Limited (NGX) connected April 30, 2025.

The slope stated that this PBT represents a maturation of 167.8% implicit the N39.5 cardinal reported successful Q1 2024.

Gross net accrued by 64.2% year-over-year (YoY) to N315.4 cardinal from N192.1 cardinal during the aforesaid play the erstwhile year, according to the report.

“Growth successful involvement income was chiefly driven by a 38.6% YoY (7.4% YTD) enlargement successful the earning assets base, portion the summation successful non-interest gross came from FX-related income, trade, and commissions connected banking services, etc., supported by accrued lawsuit transactions,” Fidelity Bank said.

Chief Executive Officer (CEO) and Managing Director of Fidelity Bank Plc, Nneka Onyeali-Ikpe, commented connected the outcome, saying it shows the bank's resilience and sets it up for adjacent amended results successful 2025.

“We started the twelvemonth with triple-digit maturation successful nett and sustained the momentum successful our earning assets growth,” Onyeali-Ikpe said. “This show shows the resilience of our concern exemplary and reinforces our assurance successful delivering a amended effect successful the 2025 fiscal year.”

Strong show was besides shown successful different areas of the unaudited fiscal statements. For example, full deposits accrued by 11.1% year-to-date (YTD) to N6.6 trillion from N5.9 trillion successful December 2024, with low-cost deposits increasing by 10.6% YTD to N6.1 trillion, oregon 92.2% of full lawsuit deposits.

Foreign currency deposits accrued by 21.4%, from $1.9 cardinal successful December 2024 to $2.3 billion, portion section currency deposits accrued by 2% year-to-date, according to Fidelity Bank.

The study states that nett loans and advances reached N4.6 trillion, up by 5.0 percent year-to-date.

It stated that section currency (LCY) loans accounted for the bulk of the bank's indebtedness publication enlargement and that the outgo of hazard decreased from 1.5% successful the 2024 fiscal twelvemonth to 0.6%.

The bank's awesome commencement to the year, according to Onyeali-Ikpe, demonstrates its dedication to promoting maturation for some individuals and companies portion bolstering fiscal stability.

“Beginning the twelvemonth with specified affirmative momentum reinforces our committedness to supporting the maturation of individuals and businesses, portion enhancing our fiscal sustainability,” she said.

Strong show was seen successful antithetic areas of the unaudited fiscal statements. Photo Credit: Fidelity Bank
Source: UGC

The CEO added that for the remainder of the year, the slope would proceed to ore connected creating a beardown organisation with a divers gross stream.

Fidelity Bank gets support for 2nd signifier of capital-raising

Legit.ng reported that aft successfully completing the archetypal signifier of its capital-raising operations, which witnessed a sizeable oversubscription of its Public Offer and Rights Issue, Fidelity Bank Plc has obtained the consent of its shareholders to determination guardant with the 2nd step.

As the slope moves person to fulfilling the Central Bank of Nigeria's (CBN) N500 cardinal minimum regulatory superior request for banks with planetary authorisation by March 31, 2026, it has besides accrued its issued stock superior from N26.7 cardinal to N36.7 billion, strengthening its fiscal foundation.

Fidelity Bank revealed successful a notification submitted to the Nigerian Exchange Limited (NGX) that the approvals were made astatine an Extraordinary General Meeting (EGM) connected February 6, 2025.

PAY ATTENTION: Сheck retired quality that is picked exactly for YOU ➡️ find the “Recommended for you” artifact connected the location leafage and enjoy!

Source: Legit.ng