The Cable NG reports that the market capitalisation of Fidelity Bank has crossed the N1 trillion mark, following a 1.27 percent appreciation in the company's share price at the close of trading.
According to data from the Nigerian Exchange Group (NGX), the bank’s market capitalisation reached the N1 trillion milestone after its share price rose from N19.75 on Tuesday to N20 on Wednesday.
The increase moved the company’s valuation from N991.6 billion to N1 trillion.
With this development, Fidelity Bank joins the elite group of financial institutions with market capitalisation exceeding N1 trillion. Other members of this group include Zenith Bank, Access Bank, United Bank for Africa (UBA), Guaranty Trust Bank (GTB), and First Bank.
On May 21, Nneka Onyeali-Ikpe, the Managing Director (MD) and Chief Executive Officer (CEO) of Fidelity Bank, acquired an additional 18 million shares in the bank.
Two days later, Onyeali-Ikpe purchased an additional 2 million units of shares.
According to a regulatory filing on the NGX, the shares were acquired on May 22 at N18.60 each—amounting to a total value of N37.2 million.
These acquisitions increased her total shareholding in the bank to 114.64 million shares, up from 94.64 million held as of December 31, 2024.
In its most recent financial performance report, Fidelity Bank announced a 167.8 per cent year-on-year increase in Profit Before Tax (PBT), which rose to N105.8 billion in the first quarter (Q1) of 2025.
