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| L – R: Kevin Ugwuoke, Executive Director, Risk Management; Stanley Amuchie, Executive Director/Chief Operations and Information Officer; Nneka Onyeali-Ikpe, Managing Director/Chief Executive Officer; Amaka Onwughalu, Chairman, Board of Directors; Ezinwa Unuigboje, Company Secretary; Henry Obih, Independent Non-Executive Director; and Ken Opara, Executive Director, Lagos and Southwest; (all of Fidelity Bank Plc) at the Bank’s 38th Annual General Meeting which held in Lagos and virtually recently. |
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 commendation came at the bank’s 38th Annual General Meeting, held virtually on Friday, October 9, 2026.
Speaking at the meeting, Bisi Bakare, National Coordinator of the Pragmatic Shareholders Association of Nigeria, cited the bank’s non-performing loan (NPL) ratio of 2.4 per cent and capital adequacy ratio of approximately 16.1 per cent as indicators of its financial resilience.
“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.
Similarly, Boniface Okezie, Chairman of the Progressive Shareholders Association, praised the bank’s leadership for completing its capital-raising exercise and positioning the institution above the applicable minimum capital requirement for banks with international authorisation.
“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.
Fidelity Bank completed a N227.05 billion private placement in December 2025, increasing its eligible capital from N305.5 billion to N532.6 billion, according to the information provided by the bank.
Presenting the bank’s performance, Board Chairman, Mrs Amaka Onwughalu, said the institution remained committed to building a stronger, more sustainable business 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,” she said, adding that the bank was focused on becoming more agile and sustainable while delivering lasting impact.
The bank’s 2025 financial statements showed that gross earnings rose 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 reached N242.4 billion.
Asset quality and other balance-sheet indicators also improved. The NPL ratio declined to 2.4 per cent from 3.1 per cent, while the loan coverage ratio increased to 203.9 per cent from 138.4 per cent. Liquidity stood at 66.5 per cent, above the stated 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 building resilience, 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,” she said.
The bank’s external auditors, Deloitte & Touche, issued an unmodified opinion on its accounts, stating that the consolidated and separate financial statements fairly presented its financial position, performance and cash flows in accordance with applicable reporting standards and Nigerian laws.
At the AGM, shareholders received the audited financial statements and reports of the Directors, External Auditors, Statutory Audit Committee and Independent Board Appraisal Consultants for the year ended December 31, 2025.
They also considered the election of Dr Jonathan Ososuakpor as a Non-Executive Director and the re-election of Onwughalu to the same position. The meeting noted the retirement by rotation of Chief Nelson Nweke as a Non-Executive Director.
Other matters included authorising the Directors to determine the external auditors’ remuneration for the 2026 financial year, disclosure of management remuneration and the election of members of the Statutory Audit Committee.
Shareholders urged the Board and Management to sustain the bank’s performance, strengthen its competitiveness and continue improving returns to investors.
Fidelity Bank Plc provides commercial banking services through its business offices and digital channels, alongside its United Kingdom subsidiary, FidBank UK Limited.
