Fidelity Bank Plc has once again crossed the trillion-naira market capitalisation mark, following a 5.3% rise in its share price from ₦19.95 to ₦21.00 on May 13, 2025. This milestone returns the leading financial institution to the elite group of Nigerian companies valued at over ₦1 trillion, bringing the total number in the club to 19.
According to TechCabal, the bank had briefly slipped below the threshold on May 12 after previously achieving the mark on April 4. However, it reclaimed the milestone on April 23 before the latest surge. With 50.2 billion outstanding shares, the bank’s valuation reflects growing investor confidence and its potential ascension to tier-1 status.
Fidelity Bank’s stock has soared 141% year-on-year, climbing from ₦8.70 in May 2024, driven largely by its impressive financial performance. In 2024, after-tax profit jumped 189%, the highest among Nigeria’s top 10 banks, while Q1 2025 profit rose 190% to ₦91 billion, bolstered by higher interest income, forex gains, and cost efficiencies.
“The strong Q1 results suggest continued upward momentum in its stock,” said Nabila Mohammed, an analyst at Chapel Hill Denham. “This could boost investor confidence and help sustain its valuation.”
A report by Proshare also highlighted the NGX Banking Index’s 6.96% gain in Q1 2025, partly fueled by ₦2.4 trillion recapitalisation inflows into the sector. Fidelity was the Nigerian Exchange’s third most-traded stock between February and May.
The bank’s fundamentals remain attractive, with a high net interest margin and a low-cost deposit base. On February 8, it concluded the first phase of its capital raise with a 237% oversubscription. CEO Nneka Onyeali-Ikpe confirmed the next phase will be completed before the second half of 2025.
Under its “Vision 2025” strategy, Fidelity is pursuing tier-1 status and global expansion, following its acquisition of Union Bank UK in 2023. Afrinvest projects a 46% growth in gross earnings and a 49.4% rise in pre-tax profit in 2025, reaching ₦1.5 trillion and ₦415.4 billion respectively. The firm also set a 12-month price target of ₦21.60 for the stock.
With strong earnings, a solid capital strategy, and rising investor interest, Fidelity Bank is fast emerging as a formidable contender among Nigeria’s top-tier banks.
