Fidelity Bank (FIDELITYBK) investor relations material

Executive summary

• Gross earnings rose to N434,947 million for the group, up 38% year-over-year from N315,421 million, driven by higher interest and non-interest income.

• Profit before tax declined to N92,476 million from N105,770 million year-over-year, mainly due to a significant increase in credit loss expense and operating costs.

• Net profit for the period was N74,471 million, down from N91,101 million year-over-year.

• Total assets increased to N11,354,300 million as of March 31, 2026, compared to N10,463,816 million at year-end 2025.

Financial highlights

• Net interest income decreased to N180,770 million from N190,815 million year-over-year, reflecting higher interest expenses.

• Credit loss expense surged to N29,206 million from N6,285 million year-over-year, impacting net interest income after credit losses.

• Fee and commission income increased to N33,278 million from N23,822 million year-over-year.

• Foreign currency revaluation gains rose sharply to N47,995 million from N9,835 million year-over-year.

• Other operating expenses increased to N104,454 million from N87,480 million year-over-year.

• Basic and diluted EPS was 569 kobo, up from 181 kobo year-over-year.

Outlook and guidance

• Directors confirm the bank remains a going concern, with no material uncertainties identified.

• Internal controls evaluated as effective, with no significant deficiencies or fraud reported.

• The bank expects to meet financial obligations, despite global uncertainties such as the Russia-Ukraine war and US political outlook.