Fidelity Bank's first quarter revenue up by 38%

Fidelity Bank's first quarter revenue up by 38%

Fidelity Bank reported Q1 2026 gross earnings of N434.9 billion (+37.9% YoY), with profit after tax declining to N74.5 billion from N91.1 billion as interest expenses surged 90.3% and credit loss provisions spiked 364.7% to N29.2 billion. Revenue growth is being structurally offset by funding cost inflation and deteriorating credit quality — a pattern signaling balance sheet stress that peers and fintech competitors in the Nigerian market should factor into risk and partnership assessments.