Fidelity Bank Gross Earnings Surge to N1.52 Trillion as Profit Settles at N242.4 Billion in 2025

Fidelity Bank Plc reported gross earnings of N1.52 trillion for the 2025 financial year, representing a strong increase from N1.04 trillion recorded in 2024 as the bank benefited from higher interest income and foreign exchange-related gains.

The bank disclosed in its audited financial statements for the year ended December 31, 2025, that profit after tax declined to N242.44 billion from N278.11 billion posted in the previous year despite the sharp rise in revenue.

Interest income calculated using the effective interest rate method rose to N1.11 trillion from N803.05 billion, while other interest and similar income increased to N184.51 billion from N147.53 billion.

Interest expenses climbed to N467.17 billion compared to N320.82 billion in 2024, indicating elevated funding costs across the banking sector amid Nigeria’s high-interest-rate environment.

Net interest income stood at N831.35 billion, up from N629.77 billion recorded in the previous year.

The bank’s credit loss expense declined sharply to N21.61 billion from N56.44 billion, helping net interest income after impairment charges rise to N809.74 billion.

Fee and commission income also improved to N113.36 billion from N78.36 billion, while foreign currency revaluation gains surged to N99.58 billion compared to N11.72 billion recorded a year earlier.

However, Fidelity Bank recorded derivative losses of N223.79 billion against derivative gains of N57.88 billion in 2024, a development that pressured profitability during the period.

Operating expenses increased substantially as personnel expenses rose to N80.56 billion from N73.45 billion, while other operating expenses climbed to N335.29 billion from N242.70 billion.

Profit before tax and windfall tax declined to N347.66 billion from N385.22 billion. After accounting for income tax expenses of N99.55 billion and windfall tax charges of N5.67 billion, profit after tax settled at N242.44 billion.

Despite the earnings moderation, the bank’s balance sheet expanded strongly during the year.

Total assets increased to N10.46 trillion from N8.82 trillion in 2024, supported by growth in cash balances, investment securities and other assets.

Customer deposits rose to N6.89 trillion from N5.94 trillion, underscoring continued deposit mobilization across retail and corporate banking segments.

Total equity climbed to N1.09 trillion from N897.87 billion, driven by increases in statutory reserves, fair value reserves and non-distributable regulatory reserves.

The bank’s retained earnings, however, declined to N173.46 billion from N185.26 billion.

Basic earnings per share dropped to 580 kobo from 652 kobo recorded in 2024.