Fidelity Bank stocks hit new low as Q1 profit drops to N74.4bn

Fidelity Bank Plc reported profit after tax (PAT) decline to N74.47 billion in the first quarter (Q1) to March 31, 2026.

This profit level represents a dip by 18.25 percent when compared with N91.10 billion in the corresponding first quarter of 2025.

The Group’s earnings per share lowered to
N1.36 in Q1′ 2026 from N1.81 in Q1′ 2025.
Fidelity Bank’s share price dropped to N22 per share on Tuesday, losing N1.75 or 7.37 percent. The stock had reached 52-week high of N24.25 and a 52-week low of N17.1.

The bank’s unaudited financial statements for the first quarter period ended March 31, 2026 show that it recorded 37.9 percent growth in gross earnings to N434.95 billion as against N315.42 billion in first quarter 2025.

The bank linked its top-line performance to growth in its core business operations with interest incomes rising by 22.8 percent to N314.48 billion in first quarter 2026 as against N256.10 billion in first quarter 2025.

With net interest income at N180.97 billion, the bank closed the period with profit before tax of N92.48 billion. After taxes, net profit stood at N74.47 billion for the three-month period.

Nneka Onyeali-Ikpe, Managing Director, Fidelity Bank Plc said the first quarter 2026 results reinforced the bank’s strong and resilient business model.

She noted that with the remarkable success of its recapitalisation programme and continuing expansion, Fidelity Bank has entered a new era of growth and impressive returns.

“We are on a stronger footing and confident that we will set new growth records that are reflective of our legacy and the future we are working on,” Onyeali-Ikpe said.

The bank’s total assets crossed the N11 trillion mark to N11.35 trillion by March 2026 compared with N10.46 trillion recorded in December 2025. Customers’ deposits increased from N6.89 trillion to N7.38 trillion.