Fidelity Bank recorded a 45.6 per cent surge in revenue for last year, compared to 2024, as the financial institution witnessed reasonable growth across its key income streams.

The lender posted gross earnings of N1.5 trillion in the period, up from N1 trillion, according to its newly released audited financial results for the period, taking turnover to its highest level on record.

Nevertheless, net profit for the year under review slid by 12.8 per cent to N242.4 billion from N278.1 billion amid soaring costs.

One of the major pressure points was the N223.8 billion the lender incurred as derivative losses, which contrasts with the derivative gains of N57.9 billion reported a year earlier.

Likewise, other operating expenses jumped 38.2 per cent to N335.3 billion, driven by marketing, communication & entertainment spending as well as banking sector resolution cost.

Last month, Fidelity Bank announced the result of its private placement, held on 31 December 2025, where it raised N227 billion made up of 12.98 billion shares. Earlier in 2024, it had raised N175.9 billion by way of public offer and rights issue on its way to meeting new recapitalisation requirements for the Nigerian banking industry.

The bank, which serves over ten million customers in Nigeria and the UK, holds an international banking licence.

Net interest income, a key performance metric which measures the difference between what a financial institution earns from interest-bearing assets and the interest it pays to depositors and creditors, rose by almost one third to N831.4 billion.

READ ALSO: Nigeria’s OAGF clarifies “6 months ultimatum” to World Bank

The lender set apart N21.6 billion as provision for credit loss, which compares to the N56.4 billion it allocated for the same purpose a year earlier.

Fee and other commission income was up by 44.7 per cent at N113.4 billion, driven by increased ATM charges, while foreign currency revaluation gains expanded to N99.6 billion from N11.7 billion.

Profit before tax dropped to N347.7 billion from N385.2 billion. Fidelity Bank stated elsewhere in the financial report that the board of directors has not proposed any dividend for the year under review.

Fidelity Bank increases money by 46% in one year

Suggested for you

More Stories

Africa Has Great Opportunity for IB Partners: How to Earn Money as a Broker Partner

PREMIUM TIMES journalist selected for 2026 Kwame Karikari fact-checking fellowship

MIIF leads effort to strengthen mineral royalty monitoring

Commercial vehicles lead in road crashes as 1,347 people die in Q1 2026 — NBS

Woman Arrested in Step-daughter's Death Case

NPA launches 268 filling stations, 8 depots and 2 refineries for 24-hour economy pilot

Discussion