Fidelity Bank (FIDELITYBK) Q1 2025 earnings summary

Executive summary

• Gross earnings for Q1 2025 rose to ₦315.4bn, up 64% year-over-year, with net profit at ₦91.1bn, nearly triple the prior year’s ₦31.4bn.

• Total assets increased to ₦10.45tn from ₦8.82tn at year-end 2024, while customer deposits grew to ₦6.60tn from ₦5.94tn.

• The bank maintained strong internal controls and confirmed its going concern status.

Financial highlights

• Net interest income surged 92% year-over-year to ₦190.8bn, driven by higher interest and similar income.

• Credit loss expense improved to ₦6.3bn from ₦12.4bn year-over-year.

• Fee and commission income increased to ₦23.8bn from ₦18.3bn year-over-year.

• Earnings per share rose to 181 kobo from 98 kobo year-over-year.

• Total equity climbed to ₦933.1bn from ₦437.3bn year-over-year.

Outlook and guidance

• Management expects continued healthy liquidity and the ability to meet financial obligations, with no material adverse impact anticipated from global geopolitical risks.

• The bank will adopt new IFRS standards as they become effective, with no significant impact expected on current operations.