Dr. Nneka Onyeali-Ikpe,OON, Managing Director/Chief Executive Officer of Fidelity Bank Plc

Fidelity Bank’s N10.5tr assets base, Stakeholders’ confidence,

*Insiders bid for more equity stakes

Fidelity Bank Plc added N1.63 trillion to its assets base within three months to strengthen its position as one of the seven largest banks in Nigeria, in terms of assets base.

Regulatory filings approved by the Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC) and the Nigerian Exchange (NGX) showed Fidelity Bank as one of the fastest growing and strongest banks in Nigeria across key parameters with the bank’s total assets rising by N1.63 trillion within the first three months of the year.

The reports showed that Fidelity Bank’s total assets rose from N8.82 trillion by December 31, 2024 to close March 31, 2025 at N10.45 trillion. The total balance sheet underlined the bank’s reputation as one of the most preferred banking brands, with double-digit growth in customers’ deposits.

Fidelity Bank’s customers deposit rose to N6.6 trillion by first quarter 2025 as against N5.94 trillion by December 2024. The growth in customers’ deposit base was driven by double-digit growth in low-cost deposits to N6.1 trillion, representing 92.2 per cent of total customer deposits.

Shareholders’ funds jumped from N897.87 billion in December 2024 to N933.14 billion by March 2025. The increase was mainly driven by the significant improvement in the profitability of the bank.

Investment experts attributed notable positive investors’ sentiment around the bank to its strong assets base and profitability, pointing out that a two-way test of assets and profitability is key measure of sustainability for a financial institution.

In a study on ‘Balance Sheet Strength and Bank Lending During the Global Financial Crisis’, researchers at International Monetary Fund (IMF) examined the role of bank balance sheet strength in the transmission of financial sector shocks to the real economy.

The study found that “banks with strong balance sheets were better able to maintain lending during the crisis.”

According to the study, banks that were more dependent on market funding and had lower structural liquidity reduced the supply of credit more than other banks.

“However, higher and better-quality capital mitigated this effect. Our results suggest that strong bank balance sheets are key for the recovery of credit following crises, and provide support for regulatory proposals under the Basel III framework,” IMF report stated.

Fidelity Bank has remained one of the most attractive stocks at the stock market, outperforming both the average return for the entire market and particularly the banking sector.

Fidelity Bank’s share price opened this week with a year-to-date return of 18.86 per cent, more than a double of the average capital gain in the banking sector and nearly a triple of the market’s overall average capital gain so far this year.

The NGX Banking Index, which tracks the banking stocks, opened this week with average year-to-date return of 8.24 per cent while the All Share Index (ASI)- which tracks all share prices at the NGX, opened with a gain of 6.59 per cent.

Market analysts said Fidelity Bank, which has remained one of the most active stocks at thee stock market, was enjoying strong positive sentiment, from existing shareholders and other investors seeking to take positions in the bank.

A report at the NGX showed that a top director of the bank had earlier this week purchased shares worth more than N366 million, in a strategic positioning that increase the top director’s equity stake in the bank. Fidelity Bank was also the most active stock at the stock market yesterday.

Extant regulations at the Nigerian stock market do not preclude insiders-directors, staff and other people with possible access to sensitive information, from trading in the shares of a company, but such trading must be disclosed to the market and must not be within a regulated period, otherwise known as “closed period” because of its closeness to release of sensitive information.

Fidelity Bank had grown its pre-tax profit by 167.8 per cent to N106 billion in the first three months of this year, setting the bank on a strong growth trajectory for the year.

Interim report and accounts of Fidelity Bank for the first quarter ended March 31, 2025 showed that profit before tax rose from N39.5 billion in the first quarter 2024 to N105.8 billion in the first quarter 2025. Gross earnings rose by 64.2 per cent to N315.4 billion in the first quarter of 2025 as against N192.1 billion in the corresponding period of 2024.

Growth in interest income was primarily led by 38.6 per cent expansion in the earning assets base, while the increase in non-interest revenue came from foreign exchange (forex)-related income, trade and commission on banking services ,among others.

Osun Residents Benefit from Fidelity Food Bank Initiative

Over 4,500 residents have benefited from a two-day feeding programme organized by Fidelity Bank Plc in Abere and Modakeke communities in Ile-Ife, Osun State. The program, which saw to the distribution of essential food items, was executed in collaboration with the Ministry of Cooperatives and Empowerment and the Esther Adeleke Foundation.

L-R: Commissioner for Education, Osun State, Hon. Dipo Eluwole representing Governor Ademola Adeleke of Osun State; Regional Bank Head, SouthWest II, Fidelity Bank Plc, Mrs. Morenike Olabisi; Wife of Osun State Governor; Ambassador Ngozi Adeleke; Regional Operations Service Supervisor, Southwest 2, Fidelity Bank Plc, Mildred Ajepe; and Wife of the Deputy State Governor, Mrs. Olusola Adewusi; during the Fidelity Food Bank distribution in partnership with Esther Adeleke Foundation in Modakeke, Ile-Ife Community, Osun State recently.

Speaking during the distribution event, the Managing Director/Chief Executive Officer, Fidelity Bank, Dr. Nneka Onyeali-Ikpe, represented by the Regional Bank Head, Southwest II, Mrs. Morenike Olabisi emphasized that the Fidelity Food Bank initiative underscores the bank’s commitment to Corporate Social Responsibility (CSR) and community welfare. She noted that since the initiative was launched in April 2023 by Dr Nneka Onyeali-Ikpe, it has impacted communities across all six geopolitical zones in Nigeria.

According to Mrs Olabisi, “This is the third distribution exercise in Osun State this year, and our aim is to achieve zero hunger in Nigeria and achieve the Sustainable Development Goal 2. Our CSR initiatives are designed not just to provide immediate relief, but to empower people and improve their livelihoods.

“The bank will be donating 500 Point of Sale (POS) machines to the Ministry of Cooperatives and Empowerment for onward distribution to residents In addition to the food bank distribution. “These POS machines will serve as an income-generating tool for many families and small business owners across the state. Fidelity prides itself as a responsible organisation, and we place a huge premium on the wellbeing of our host communities”, she added.

Responding to the gesture, the Governor of Osun State, Senator Ademola Adeleke represented by the Commissioner for Cooperatives and Empowerment, Bayo Ogungbangbe, commended Fidelity Bank for the social intervention programme and its continued support to the people.

“This is not the first time Fidelity Bank is giving back to the state and this shows that the well-being of the people is of top priority to the bank. We are deeply grateful for their sacrifice and we urge other corporate organizations to emulate Fidelity Bank on this laudable initiative”, he stated.

On her part, the founder of Esther Adeleke Foundation and the wife of Osun State Governor, Erelu Ngozi Adeleke, emphasized that this is the second edition of the Fidelity Food Bank in collaboration with Esther Adeleke Foundation noting that, the first edition at the Asubiaro Hospital, Osogbo inspired them to do more.

Her words, “My resolve to help the needy and alleviate poverty necessitated my partnership with Fidelity Bank in the distribution of food items to the needy.  There is hardship in the country, and I am doing my best to support the governor of Osun State to cater for the needs of Osun people.

“I want to appreciate the management of Fidelity bank for their dedication to the people of Osun state, and we want to assure the bank that they have our utmost support”, she added.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The bank is also a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application Award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider Award by Global Brands Magazine.

Additionally, the bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.