Prime Business Africa
Fidelity Bank Plc recorded gross earnings of N748.70 billion in the first half (H1) of 2025, according to the company’s financial statements for the period ended June 30, 2025.
In the financial statement, the lender said the gross earnings increased by 45.98 percent year-on-year compared to the N512.86 billion reported in the same period the previous year.
Join our WhatsApp ChannelAlso, the company’s net interest income jumped by 28.80 percent to N420,41 billion between January and June 2025, surpassing the N326,40 billion reached in the corresponding period in 2024.
According to the financial report, Fidelity Bank saw a decline in its credit loss expense, which dropped to N13.65 billion in the first half of this year, falling below the previous year’s N35.92 billion.
Growth was also reported in net interest income after credit loss expense, as it reached N406,76 billion in H1 2025, overshadowing the N290,47 billion posted in H1 2024, representing an increase of 40.03 percent.
The positive performance continued in the company’s fee and commission income, which grew by 52.19 percent year-on-year, from N35.05 billion to N53.35 billion.
However, a 63.76 percent increase in fee and commission expense impacted Fidelity Bank’s topline revenue, as the former grew from N3.85 billion in H1 2024 to N6.31 billion in H1 2025.
But the company saw a significant growth in its foreign currency revaluation gains, after closing the period under review with N33.64 billion, compared to the N3.42 billion recorded in the previous year.
However, the 882.42 percent growth in foreign currency revaluation gains was not enough to prevent Fidelity Bank from recording a 10.12 percent decline in profit before income and windfall taxes.
The company’s report showed that profit before income and windfall taxes fell to N180.52 billion in the first half of this year, below the N200.87 billion posted in the same period last year.
Also, Fidelity Bank reported that income tax expense grew by 10.58 percent year-on-year, from N41.03 billion to N45.38 billion.
According to the report, the lender also paid a windfall tax of N2.83 billion during the period under review, compared to zero windfall tax last year.
In addition, Fidelity Bank also saw a 17.21 percent drop in profit after taxes, as it dropped from N159.83 billion in H1 2024 to N132.31 billion in the first half of this year.
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