Shareholders of Fidelity Bank Plc have lauded the Bank’s Board and Management for strengthening its capital base, improving asset quality and sustaining earnings growth despite a challenging operating environment.
The shareholders expressed their support at the Bank’s 38th Annual General Meeting, held virtually on Friday, 9 October 2026.
Speaking during the meeting, Bisi Bakare, National Coordinator, Pragmatic Shareholders Association of Nigeria, drew attention to the Bank’s non-performing loan ratio of 2.4 per cent and capital adequacy ratio of about 16.1 per cent as indicators of its financial resilience.
“The figures demonstrate that the Bank remains strong. With a non-performing loan ratio of 2.4 per cent, a customer base of 16 million and a capital adequacy ratio of 16.1 per cent, shareholders have reasons to support the Board and Management,” Bakare said.
Another shareholder, Boniface Okezie, Chairman of the Progressive Shareholers Association, commended the Bank’s leadership for completing its capital raise and positioning the institution above the new regulatory threshold.
“We commend the Board and Management for the successful capital-raising exercise. This gives us greater confidence in the future of the Bank and its capacity to deliver sustainable value to shareholders,” Okezie said.
The Bank completed a N227.05 billion private placement in December 2025, increasing its eligible capital from N305.5 billion to N532.6 billion. This placed Fidelity Bank above the N500 billion minimum capital requirement for banks with international authorisation.
Presenting the Bank’s performance, Board Chairman, Mrs Amaka Onwughalu, said Fidelity Bank remained focused on building a stronger and more sustainable institution capable of delivering long-term value.
“At Fidelity Bank, we are building for the long term by creating lasting value through trust, innovation and shared progress. Guided by purpose and responsibility, we are building a stronger, more agile and more sustainable institution, one designed to thrive through change and deliver enduring impact for generations,” Mrs Amaka Onwughalu said.
The Bank’s 2025 financial statements showed that gross earnings increased by 45.6 per cent to N1.52 trillion, compared with N1.04 trillion in 2024. Profit before tax stood at N347.7 billion, while profit after tax closed at N242.4 billion.
The Bank also strengthened key balance sheet and risk indicators. Its non-performing loan ratio improved to 2.4 per cent from 3.1 per cent, while the coverage ratio rose to 203.9per cent from 138.4 per cent. Liquidity stood at 66.5 per cent, above the regulatory minimum of 30 per cent, while total equity increased to N1.09 trillion from N897.9 billion.
Managing Director and Chief Executive Officer, Dr Nneka Onyeali-Ikpe, said the Bank’s strategy remained centred on building a resilient institution, deepening customer relationships and creating sustainable value for stakeholders.
“Our focus remains on making financial services easy and accessible to our customers while building a stronger institution for shareholders, employees and the communities we serve,” Dr Nneka Onyeali-Ikpe said.
The External Auditors, Deloitte & Touche, issued an unmodified opinion on the Bank’s accounts, stating that the consolidated and separate financial statements fairly presented its financial position, performance and cash flows in accordance with applicable reporting standards and Nigerian laws.
At the meeting, shareholders received the Audited Financial Statements and reports of the Directors, External Auditors, Statutory Audit Committee and Independent Board Appraisal Consultants for the year ended 31 December 2025.
Shareholders also considered the election of Dr Jonathan Ososuakpor as a Non-Executive Director and the re-election of Mrs Amaka Onwughalu as a Non-Executive Director. The meeting noted the retirement by rotation of Chief Nelson Nweke as a Non-Executive Director.
Other business included authorising the Directors to fix the remuneration of the External Auditors for the 2026 financial year, disclosing the remuneration of the Bank’s managers and electing members of the Statutory Audit Committee.
The shareholders urged the Board and Management to sustain the momentum, deepen market competitiveness and continue strengthening returns to investors.
About Fidelity Bank
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is a recipient of multiple local and international awards, including the 2025 Development Bank of Nigeria (DBN) Innovation Award for MSME support; Best Retail and SME Bank Award from Independent Newspapers; Best Bank for Export & Trade Finance and Most Innovative Bank of the Year at the 2025 BusinessDay Banks and Financial Institutions (BAFI) Awards; and Nigeria’s Best Private Bank at the 2025 Euromoney Awards. The Bank also received the inaugural Most Improved Commercial Bank of the Year award by Nairametrics, the SME Bank of the Year award by NewsDirect, and the Straight-Through Processing (STP) Excellence Award by Citi Group, in addition to recognition by Global Brands Magazine for Excellence in Community Empowerment.
