Fidelity Bank Plc has reported a surge in pre-tax revenue, reaching N107.77 billion for Q1 2025, a 167.79% year-on-year (YoY) development.
This efficiency indicators a powerful begin to the 12 months, pushed by strategic development in its core enterprise and efficient administration of bills.
In accordance with the unaudited monetary assertion, gross earnings grew by 64.21% to N315.421 billion.
Key highlights (2024 vs. 2023)
- Curiosity Revenue: N281.468 billion +65.44% YoY
- Curiosity Expense; N90.653 billion +28.58% YoY
- Web curiosity earnings; N190.815 billion +91.52% YoY
- Credit score loss expense: N6.281 billion; -49.17% YoY
- Web curiosity earnings after credit score loss expense: N184.530 billion +111.45% YoY
- Charges and fee earnings: N23.822 billion +30.10% YoY.
- Charges and fee expense: N2.666 billion +37.56% YoY
- Revenue for the interval N91.101 billion +189.75% YoY
- Earnings per share N1.81; +84.69% YoY
- Loans and advances to prospects N4.605 trillion +4.96%.
- Money and Money equivalents N1.619 trillion; +128.90%
- Complete Belongings N10.452 trillion +18.48%.
- Clients’ deposits N6.599 trillion +11.15%.
- Shareholders’ funds: N933.139 billion; +3.39YoY
Progress in core enterprise
Fidelity Bank’s earnings have been largely pushed by greater curiosity earnings, which accounted for 89% of gross earnings.
The bank earned considerably extra from loans and advances to prospects, with curiosity earnings from loans contributing 75% of the overall curiosity earnings.
Funding in securities additionally performed a task, including 18.31% to curiosity earnings.
Whereas curiosity bills rose because of greater deposit charges, they consumed simply 32% of the curiosity earnings in Q1 2025, a major enchancment in comparison with 41.14% in Q1 2024.
This allowed Fidelity Bank to retain a bigger share of earnings, leading to stronger profitability.
Improved credit score high quality
One other standout function of the outcomes was the discount in credit score loss bills, which dropped 49.17% to N6.28 billion from N12.37 billion in Q1 2024.
This means that the bank’s mortgage portfolio is performing higher, with fewer dangerous loans and bettering credit score high quality.
Non-lending earnings & price development
Past lending, Fidelity Bank additionally noticed development in its non-interest earnings, significantly from charges and commissions, which elevated by 30.1% YoY to N23.82 billion.
Regardless of a decline in account upkeep charges, the bank noticed a 57% enhance in fee from vacationers cheques and international payments, and a 23.38% rise in letters of credit score commissions.
Steadiness Sheet
Fidelity Bank’s steadiness sheet exhibits strong development. Buyer deposits rose by 11.15%, reflecting sturdy customer confidence, whereas the bank attracted N661.95 billion in new deposits.
This inflow of funds supported the expansion of complete belongings by 18.48% to N10.45 trillion and an enormous bounce in money reserves by 128.90%, reaching N1.62 trillion.
Inventory efficiency
Constancy started the 12 months with a share worth of N17.50 and has since gained 14%, rating it forty eighth on the NGX by way of year-to-date efficiency.
Be First to Comment