Fidelity Bank PLC released its audited results for the year ended December 31, 2025, reporting strong revenue growth but lower profit.
However, the bank still expanded its balance sheet and core income base during the year.
Strong Revenue Growth Driven By Core Banking Income
Gross earnings rose to ₦1.52 trillion from ₦1.04 trillion in 2024.
As a result, revenue increased by 46% due to interest income, fees, and FX gains.
Interest income climbed to ₦1.299 trillion as loans, securities, and placements drove earnings.
Loans and advances contributed 63% of interest income despite a slight decline.
Meanwhile, the loan book fell 2.4% year-on-year but still supported core earnings.
In addition, investment securities and treasury bills boosted income growth.
Placements and short-term funds surged by 247%, lifting interest income further.
Cash and equivalents also rose sharply, supporting higher placement income.
Rising Costs And Mixed Profitability
Interest expenses rose 46% to ₦467.173 billion due to deposit growth.
Customer deposits increased 16% to ₦6.891 trillion, strengthening funding stability.
Consequently, deposits accounted for over two-thirds of total liabilities.
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Net interest income rose to ₦831.352 billion, supported by stronger core earnings.
Credit loss expenses fell 62%, improving asset quality and earnings quality.
Therefore, net interest income after impairment rose to ₦809.742 billion.
Net fee and commission income increased to ₦93.493 billion.
Growth came from e-banking, letters of credit, and account maintenance charges.
FX revaluation gains surged to ₦99.575 billion from ₦11.72 billion.
However, operating expenses rose 34% to ₦443.331 billion.
Derivative losses reached ₦223.79 billion, weighing on profitability.
Consequently, profit before tax fell to ₦347.662 billion from ₦385.215 billion.
Fidelity Bank Balance Sheet Expansion
Total assets rose to ₦10.464 trillion, supported by investments and liquidity growth.
Shareholders’ funds increased 21% to ₦1.088 trillion.
Earnings per share declined slightly to ₦5.80.
Shares gained 15.3% year-to-date, reaching a ₦1 trillion valuation.
Therefore, Fidelity Bank joined Nigeria’s SWOOT group.
Overall, revenue grew strongly while costs and derivatives pressured profit.
