Shareholders of Fidelity Bank Plc have commended the bank’s Board and Management for strengthening its capital base, improving asset quality and delivering significant earnings growth despite challenging economic conditions.

The commendation came during the bank’s 38th Annual General Meeting (AGM), held virtually on Friday, October 9, 2026.

Bisi Bakare, National Coordinator of the Pragmatic Shareholders Association of Nigeria, praised the bank’s financial resilience, highlighting its 2.4% non-performing loan ratio and approximately 16.1% capital adequacy ratio.

Similarly, Boniface Okezie, Chairman of the Progressive Shareholders Association, applauded the bank’s successful capital-raising exercise, which strengthened its ability to meet regulatory requirements and support future growth.

In December 2025, Fidelity Bank completed a ₦227.05 billion private placement, increasing its eligible capital from ₦305.5 billion to ₦532.6 billion, above the ₦500 billion minimum capital requirement for banks with international authorisation.

Presenting the bank’s performance, Board Chairman Amaka Onwughalu reaffirmed its commitment to building a stronger, more sustainable institution focused on innovation, trust and long-term shareholder value.

The bank’s 2025 financial results showed that gross earnings increased by 45.6% to ₦1.52 trillion, compared with ₦1.04 trillion in 2024. Profit before tax stood at ₦347.7 billion, while profit after tax reached ₦242.4 billion.

Fidelity Bank also recorded improvements in key financial indicators. Its non-performing loan ratio declined from 3.1% to 2.4%, while its loan coverage ratio increased from 138.4% to 203.9%. The bank’s liquidity ratio stood at 66.5%, well above the regulatory minimum of 30%, while total equity rose to ₦1.09 trillion from ₦897.9 billion.

Managing Director and Chief Executive Officer, Dr Nneka Onyeali-Ikpe, said the bank remained committed to improving access to financial services, strengthening customer relationships and creating sustainable value for shareholders and other stakeholders.

The bank’s external auditors, Deloitte & Touche, issued an unmodified opinion on its 2025 financial statements, confirming that the accounts fairly presented its financial position and performance in accordance with applicable reporting standards and Nigerian laws.

During the AGM, shareholders considered board appointments, including the proposed election of Dr Jonathan Ososuakpor as a Non-Executive Director and the re-election of Amaka Onwughalu. The meeting also noted the retirement by rotation of Chief Nelson Nweke.

Other matters included the remuneration of external auditors for the 2026 financial year, disclosure of management remuneration and the election of members of the Statutory Audit Committee.

Shareholders urged the bank’s leadership to sustain its growth momentum, strengthen its competitive position and improve returns to investors.

Fidelity Bank Plc serves customers through digital banking platforms, 255 business offices across Nigeria and its United Kingdom subsidiary, FidBank UK Limited. The bank has also received several local and international awards recognising its contributions to retail banking, SME financing, trade finance, innovation and community empowerment.