Fidelity Bank Plc has disclosed a pre-tax profit of N107.77 billion for the first quarter of 2025, which represents a 167.79% year-over-year increase.

The substantial profit growth was a result of enhanced cost control measures, reduced credit losses, and robust lending income. These factors were instrumental in the bank’s strong financial performance.

In Q1 2025, gross earnings increased by 64.20% to N315.42 billion from N192.09 billion in Q1 2024, as a result of higher interest income and increased customer transactions.

Despite a minor decrease in the average yield on earning assets, net interest income increased by 91.5% year-on-year to ₦190.8 billion in Q1 2025, compared to ₦99.6 billion in Q1 2024.

The bank is well-positioned in the competitive Nigerian banking sector, as evidenced by its robust financial health and strategic growth initiatives.

The robust Q1 results of Fidelity Bank have been well-received by investors, which has contributed to the bank’s increased confidence in its future prospects.

The bank intends to capitalize on this momentum by maintaining its emphasis on innovative financial solutions and customer-centric services.