Fidelity Bank Joins Access, Zenith, GTBank, First Bank in N1 Trillion Group
- Fidelity Bank has climbed the ranks of 19 Nigerian companies with a N1 trillion market capitalisation
- The bank attained the new status on Wednesday, May 14, 2025, when its share price surged by 5.3% from N19.95 to N21.00
- Experts say the upward trend positions Fidelity Bank to meet the new N500 billion capitalisation target set by the Central Bank of Nigeria (CBN)
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
Fidelity Bank Plc has re-entered the group of Nigerian firms with a N1 trillion market capitalisation, due to a 5.3% increase in its share price from N19.95 to N21 at the close of trading on Tuesday, May 13, 2025, on the Nigerian Exchange Limited.
Fidelity Bank’s latest rebound brings the number of firms in the N1 trillion group to 19.
Source: Getty Images
Fidelity Bank re-enters the N1trn club
The bank briefly fell below the threshold on Wednesday, May 14, 2025, after attaining the status on April 4, 2025. It also fell below the mark on May 12, before regaining the spot on April 23 and May 13, 2025.
According to reports, with 50.2 billion outstanding shares, the bank's current valuation has boosted investors’ confidence in its performance and strategic direction.
Experts say the upward trend positions Fidelity Bank to meet the new N500 billion capitalisation target set by the Central Bank of Nigeria (CBN) through equity.
Last year, the lender’s stock rose by 141%, from N8.70 in May 2024.
Fidelity Bank’s shares rise
The rebound is due to the bank’s impressive 2024 financial results performance, where it reported a 189% increase in profit after tax, the highest among the top 10 Nigerian banks.
Punch reports that the growth extended into this year, as the lender recorded a 190% rise in post-tax profit to N91 billion in Q1 2025, supported by an increase in interest income, FX gains, and improved cost efficiency.
According to a report by Proshare, the NGX banking index increased by 6.96% in Q1 2025, due to recapitalisation activities that added N2.4 trillion into the sector.
Fidelity Bank is among the top-traded stocks
The report noted that Fidelity Bank was the third-most traded stock between February and May.
On May 8, 2025, the bank completed the first phase of its capital raise venture, recording 237% oversubscription.
Its chief executive officer, Nneka Onyeali-Ikpe, disclosed that phase two of the programme would be concluded before the second half of 2025.
Source: UGC
It is also expanding its roots internationally, starting with the 2023 acquisition of Union Bank UK. It is also targeting the tier-1 bank ladder.
Fidelity Bank eyes more growth
Analysts at Afrinvest have predicted Fidelity Bank’s continued growth, with gross earnings expected to increase by 46% and profit before tax of 49.4% this year, hitting N1.5 trillion and N415.4 billion respectively.
The lender maintained a 12-month target price of N21.60 for its stock.
Fidelity Bank recorded gross earnings of N315.4 billion in the first quarter of 2025, representing a 64.2% increase from N192.1 billion in the same period in 2024.
A previous report by Legit.ng disclosed that Fidelity Bank was among the banks in Nigeria with the highest gross profit in 2025.
10 banks emerge as Nigeria’s most profitable banks in 2025
Legit.ng earlier reported that about 10 Nigerian banks started 2025 on a positive note, generating about N1.83 trillion in profit after tax in the first quarter of the year.
An analysis of the banks' unaudited financials reveals that Zenith Bank, Ecobank, First Bank, Access Bank, Guaranty Trust Bank, UBA, Wema Bank, Fidelity Bank, FCMB and Stanbic IBTC are the top performers during the period under review.
The report showed that the profit before tax grew by 3.5 % compared to N1.77 trillion reported in Q1 2024.
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Source: Legit.ng
