Fidelity Bank Plc completed a major capital raise in Nigeria’s banking sector.
The bank issued 14.8 billion ordinary shares at ₦17.50 each, closing on December 31, 2025.
Fidelity Bank Completes ₦227.05Bn Capital Raise
By April 24, 2026, the bank confirmed final allotment results after CBN verification.
Investors initially subscribed to 16.78 billion shares across 20 applications.
This represented 113.4% oversubscription before regulatory checks.
However, the CBN approved only 12.97 billion shares after verification.
Consequently, the bank raised ₦227.05 billion, equal to 87.7% of the offer.
First, the bank fully approved 14 applications covering 12.24 billion shares.
Next, it partially approved one application for 1.61 billion shares.
From this, it allotted 735.94 million shares.
Meanwhile, it rejected five applications worth 2.93 billion shares.
As a result, large institutional investors dominated the final allocation.
In particular, high-value investors secured most approved shares.
Additionally, the bank scheduled refunds for April 27, 2026.
It will credit CSCS accounts by April 30, 2026.
Furthermore, the SEC reviewed and approved the entire process.
Capital Drive Towards ₦500Bn Requirement
Fidelity Bank continues raising capital to meet the ₦500 billion CBN requirement.
In June 2025, it raised ₦273 billion via public and rights issues.
Then, it planned another ₦200 billion private placement.
Later, in January 2026, it confirmed completion of the exercise.
It raised ₦259 billion, pending final approval.
Previously, in 2024, it raised ₦175.85 billion to strengthen capital.
This increased eligible capital to ₦305.5 billion.
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Now, the latest allotment lifts capital to ₦532.55 billion.
Thus, the bank has surpassed the regulatory threshold.
Earnings, Market Reaction And Valuation
As of September 2025, shares outstanding reached 50.2 billion.
This rose from 32.2 billion in 2024.
Profit after tax fell 6% to ₦211.72 billion.
Earnings per share dropped to ₦4.22 from ₦7.02.
However, investors reacted positively to the update.
The share price rose 1.3% to ₦22.30.
Year-to-date gains stood at 17.37%.
Finally, market capitalisation reached ₦1.12 trillion.
