Fidelity Bank records N211.7bn profit in Q3

By Sofiyyah Layole

Fidelity Bank Plc reported a profit of ₦211.73 billion for the third quarter ended September 30, 2025, supported by higher interest income and foreign exchange revaluation gains. This compares with ₦224.60 billion posted in the same period of 2024, according to its unaudited financial statements.

Gross earnings rose to ₦1.11 trillion, up from ₦772.47 billion last year, driven by stronger income from loans and investment securities. Interest income from loans grew to ₦614.34 billion, compared with ₦449.99 billion in 2024.

Net interest income increased to ₦565.25 billion, despite a sharp rise in interest expenses to ₦414.20 billion, reflecting higher costs of term deposits and borrowed funds. The bank also recorded ₦47.74 billion in foreign currency revaluation gains, reversing last year’s zero gain.

Credit loss expenses fell to ₦14.56 billion, but operating costs remained elevated, particularly in personnel and depreciation.

Profit before tax stood at ₦268.20 billion, slightly below the ₦281.41 billion posted last year, while earnings per share declined to 422 kobo from 447 kobo, following an increase in outstanding shares.