Shareholders of Fidelity Bank Plc have commended 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 views at the Bank’s 38th Annual General Meeting, held virtually on Friday, 9 October 2026.
Speaking during the meeting, Bisi Bakare, National Coordinator of the Pragmatic Shareholders Association of Nigeria, highlighted 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 position.
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“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 Shareholders Association, commended the Bank’s leadership for completing its capital-raising exercise and positioning the institution above the applicable 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. The increase 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,” 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 was N242.4 billion.
The Bank also reported improvements in some of its asset quality and risk indicators. Its non-performing loan ratio declined to 2.4 per cent from 3.1 per cent, while the loan loss coverage ratio increased to 203.9 per cent from 138.4 per cent.
Liquidity stood at 66.5 per cent, above the regulatory minimum of 30 per cent, while total equity rose to N1.09 trillion from N897.9 billion.
Managing Director and Chief Executive Officer, Dr Nneka Onyeali-Ikpe, said the Bank’s strategy remained focused on strengthening its operations, 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,” Onyeali-Ikpe said.
The Bank’s external auditors, Deloitte & Touche, issued an unmodified opinion on its accounts. According to the audit report, the consolidated and separate financial statements fairly presented the Bank’s 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 financial 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 also noted the retirement by rotation of Chief Nelson Nweke as a Non-Executive Director.
Other matters considered included authorising the Directors to determine 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 Bank’s performance, strengthen its competitiveness and continue improving returns to investors.
Fidelity Bank Plc is a commercial deposit money bank serving customers through digital banking channels and its business offices in Nigeria, as well as its United Kingdom subsidiary, FidBank UK Limited. The Bank has reported a customer base exceeding 10 million, although a separate figure of 16 million was cited during the AGM and requires clarification.
The Bank has received several local and international awards, including the 2025 Development Bank of Nigeria 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 Awards, and Nigeria’s Best Private Bank at the 2025 Euromoney Awards.
Other recognitions include the Most Improved Commercial Bank of the Year award from Nairametrics, SME Bank of the Year from NewsDirect, the Straight-Through Processing Excellence Award from Citi Group and recognition from Global Brands Magazine for Excellence in Community Empowerment.
