Fidelity Bank Grows PBT By 167.8% To N105.8 Billion In Q1 2025

<h4>Fidelity Bank Grows PBT<&sol;h4>&NewLine;<h4><&sol;h4>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> reports that Fidelity Bank Plc&comma; one of Nigeria&&num;8217&semi;s leading Tier-1 financial institutions&comma; has announced a remarkable financial performance for the first quarter of 2025&comma; recording a Profit Before Tax &lpar;PBT&rpar; of N105&period;8 billion&comma; representing an impressive growth of 167&period;8&percnt; compared to N39&period;5 billion in Q1 2024&period;<&sol;p>&NewLine;<p>The bank&&num;8217&semi;s unaudited financial statements&comma; released on the Nigerian Exchange &lpar;NGX&rpar; on April 30&comma; 2025&comma; highlight a substantial increase in Gross Earnings&comma; which rose to N315&period;4 billion&comma; marking a year-on-year growth of 64&period;2&percnt; from N192&period;1 billion in the same period last year&period;<&sol;p>&NewLine;<p>Growth in interest income was primarily led by 38&period;6&percnt; yoy &lpar;7&period;4&percnt; ytd&rpar; expansion in earning assets base&comma; while the increase in non -interest revenue came from FX-related income&comma; trade and commission on banking services&comma; etc&period;&comma; supported by increased customer transactions&period;<&sol;p>&NewLine;<p>Commenting on the bank’s performance&comma; Dr&period; Nneka Onyeali-Ikpe&comma;OON&comma; Managing Director&sol;Chief Executive Officer of Fidelity Bank Plc&comma; stated&comma; &OpenCurlyDoubleQuote;<em><strong>We started the year with triple-digit growth in profit and sustained the momentum in our earning assets growth&period; This performance shows the resilience of our business model and reinforces our confidence in delivering a better result in the 2025 financial year&period;”<&sol;strong><&sol;em><&sol;p>&NewLine;<p>Other areas of the unaudited financial statements&comma; equally show a marked improvement with Total Deposits growing by 11&period;1&percnt; ytd to N6&period;6tn from N5&period;9tn in December 2024&comma; driven by 10&period;6&percnt; ytd growth in low-cost deposits to N6&period;1tn&comma; which represents 92&period;2&percnt; of total customer deposits&period; Local currency deposits increased by 2&period;0&percnt; ytd while foreign currency deposits increased by 21&period;4&percnt; from &dollar;1&period;9bn in December 2024 to &dollar;2&period;3bn&period;<&sol;p>&NewLine;<p>Net Loans and Advances increased by 5&period;0&percnt; ytd to N4&period;6tn&period; The growth in the bank’s Loan Book was skewed to LCY Loans as cost of risk declined to 0&period;6&percnt; from 1&period;5&percnt; in 2024FY&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Beginning the year with such positive momentum reinforces our commitment to supporting the growth of individuals and businesses&comma; while enhancing our financial sustainability&period; As we go into the rest of the year&comma; we remain focused on building a resilient banking franchise with a diversified earnings base&comma;” Onyeali-Ikpe added&period;<&sol;p>&NewLine;<p>Ranked among the best banks in Nigeria&comma; Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9&period;1 million customers through digital banking channels&comma; its 255 business offices in Nigeria and United Kingdom subsidiary&comma; FidBank UK Limited&period;<&sol;p>&NewLine;<p>The Bank is the recipient of multiple local and international Awards&comma; including the 2024 Excellence in Digital Transformation &amp&semi; MSME Banking Award by BusinessDay Banks and Financial Institutions &lpar;BAFI&rpar; Awards&semi; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook&comma; and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine&period;<&sol;p>&NewLine;<p>Additionally&comma; the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by <a href&equals;"https&colon;&sol;&sol;www&period;vanguardngr&period;com&sol;">the BusinessDay<&sol;a> Banks and Financial Institutions &lpar;BAFI&rpar; Awards&period;<&sol;p>&NewLine;<figure id&equals;"attachment&lowbar;24785" aria-describedby&equals;"caption-attachment-24785" style&equals;"width&colon; 300px" class&equals;"wp-caption alignnone"><img class&equals;"size-medium wp-image-24785" src&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;wp-content&sol;uploads&sol;2024&sol;04&sol;Fidelity-Bank-Image-300x172&period;jpeg" alt&equals;"Fidelity Bank Grows PBT By 167&period;8&percnt; To N105&period;8 Billion In Q1 2025" width&equals;"300" height&equals;"172" &sol;><figcaption id&equals;"caption-attachment-24785" class&equals;"wp-caption-text"><em><strong>Fidelity Bank Plc<&sol;strong><&sol;em><&sol;figcaption><&sol;figure>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;