Business
Fidelity Bank hits N1trn market cap amid profit surge, strategic growth
Fidelity Bank Plc has joined the league of Nigerian financial giants with a market capitalisation exceeding N1 trillion, following a steady rally in its share price.
According to data from the Nigerian Exchange Group (NGX), the bank’s market value hit the N1 trillion milestone on Wednesday after its stock appreciated by 1.27 percent, rising from N19.75 on Tuesday to N20 per share. This pushed the bank’s valuation from N991.6 billion to exactly N1 trillion.
With this landmark achievement, Fidelity Bank becomes the latest addition to the elite group of financial institutions valued above N1 trillion, joining the ranks of Zenith Bank, Access Holdings, Guaranty Trust Holding Company (GTCO), United Bank for Africa (UBA), and First Bank.
The surge in market capitalisation reflects increasing investor confidence, underpinned by the bank’s strong financial performance in recent quarters. In its Q1 2025 financial results, Fidelity Bank reported a staggering 167.8 percent year-on-year increase in profit before tax (PBT), which rose to N105.8 billion compared to N39.5 billion in Q1 2024.
The impressive profit growth was driven by significant increases in both interest and non-interest income.
The bank’s gross earnings climbed by 89.9 percent year-on-year to N192.1 billion in Q1 2025, from N101.1 billion in the same period last year. Net interest income also grew by 84.2 percent to N99.6 billion, reflecting improved margins and a larger loan book.
Fidelity Bank’s balance sheet remained resilient, with total assets hitting N6.4 trillion as of March 2025 – up from N4.1 trillion in the same period the previous year. Customer deposits also grew to N4.9 trillion, showing deepening market penetration and stronger customer confidence.
Adding to the positive sentiment around the bank’s stock was the recent share acquisition by the bank’s managing director and chief executive officer, Nneka Onyeali-Ikpe. In a strategic move signalling her long-term confidence in the bank’s growth trajectory, Onyeali-Ikpe acquired 20 million additional shares in two tranches in May.
According to regulatory filings with the NGX, she purchased 18 million shares on May 21 and an additional 2 million units on May 22 at N18.6 per share – a total outlay of N37.2 million. These acquisitions increased her total holdings in the bank to 114.64 million shares, up from 94.64 million as of December 31, 2024.
Under Onyeali-Ikpe’s leadership, Fidelity Bank has pursued a deliberate strategy of growth through digital transformation, aggressive retail banking expansion, and regional diversification.
The bank recently concluded the acquisition of Union Bank UK, signaling a renewed push into international markets to diversify earnings and build offshore capabilities.
Analysts point to the bank’s focus on enhancing its technology infrastructure and pushing aggressively into the SME and retail segments as key drivers of sustained earnings momentum.
With Fidelity Bank now valued at over N1 trillion, the market appears to be rewarding its stellar financial results, effective leadership, and strategic clarity.
Investor optimism remains strong, especially amid ongoing expansion efforts and the bank’s commitment to delivering value to shareholders.
If its current performance trajectory continues, Fidelity Bank is poised to further consolidate its position as one of Nigeria’s fastest-growing and most valuable financial institutions.
