Fidelity Bank AGM 2026: Shareholders Hail N1.52 Trillion Earnings, N532.6bn Capital Base

Fidelity Bank AGM 2026

OpenLife News reports that shareholders of Fidelity Bank Plc have commended the Board and Management for delivering strong financial performance and exceeding the new capital requirement for international banks despite macroeconomic headwinds.

The commendation came at the Bank’s 38th Annual General Meeting, AGM, held virtually on Friday, October 9, 2026.

National Coordinator of the Pragmatic Shareholders Association of Nigeria, Mrs. Bisi Bakare, said the Bank’s key ratios show resilience and sound risk management.

“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.

Chairman of the Progressive Shareholders Association of Nigeria, Mr. Boniface Okezie, also lauded the Bank for successfully raising fresh capital and positioning for future growth.

“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, which raised its eligible capital from N305.5 billion to N532.6 billion, above the N500 billion minimum capital requirement set by the Central Bank of Nigeria, CBN, for banks with international authorisation.

Speaking at the AGM, Board Chairman, Mrs. Amaka Onwughalu, said the Bank is focused on long-term sustainability.

“At Fidelity Bank Plc, 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 audited results for the year ended December 31, 2025 showed gross earnings rose by 45.6 per cent to N1.52 trillion from N1.04 trillion in 2024. Profit before tax stood at N347.7 billion, while profit after tax was N242.4 billion.

Asset quality also improved, with the non-performing loan ratio declining to 2.4 per cent from 3.1 per cent, while coverage ratio rose to 203.9 per cent from 138.4 per cent.

Liquidity ratio stood at 66.5 per cent, well above the regulatory minimum of 30 per cent, while total equity grew to N1.09 trillion from N897.9 billion.

Managing Director and Chief Executive Officer, Dr. Nneka Onyeali-Ikpe, said the Bank’s strategy remains anchored on resilience and customer service.

“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.

External Auditors, Deloitte & Touche, issued an unmodified opinion on the accounts, confirming that the financial statements fairly presented the Bank’s position in accordance with applicable reporting standards.

At the meeting, shareholders adopted the audited financial statements and reports, approved the election of Dr. Jonathan Ososuakpor as Non-Executive Director and the re-election of Mrs. Amaka Onwughalu.

They also  noted the retirement of Chief Nelson Nweke, and authorized the Board to fix the remuneration of external auditors and elect members of the Statutory Audit Committee.

Shareholders urged the Bank to sustain its growth momentum and deepen returns to investors.