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FIDELITY BANK GROWS PROFITS BY 30.6% TO N25.1BN
…Proposes Dividend of 11kobo Per Share
Fidelity Bank Plc, in a clear demonstration of its resilience and stability, has announced an impressive financial result for the year-ended December 31, 2018. The performance which capped a remarkable year, showed strong growth in Gross Earnings, Profits and other key financial indicators.
The top Nigerian lender which has become the clear leader among Tier 2 banks, posted a 4.8% growth in Gross Earnings from N180.2BN to N188.9BN whilst Profit Before Tax soared by 30.6% to N25.1BN, when compared with the 19.2BN it recorded in 2017.
Profit After Tax grew by 29% from N17,7BN in 2017 to N22.9BN in 2018, whilst Operating Income rose by 13.9% from N85.9BN to N97.2BN. Customer Deposit, which is a measure of consumer confidence rose by 26.3% from N775.2BN to N979.4BN just as Total Assets grew by 24% from N1.4TRN to N1.7TRN.
In other indices, Non-Performing Loans (NPLs) Ratio dropped to 5.7 percent from 6.4 percent in the 2017FY due to a combination of recoveries, loan write-offs and the absolute growth in the loan book. Other Regulatory Ratios remained above the required thresholds with Capital Adequacy Ratio (CAR) at 16.7 percent and Liquidity Ratio at 39.0 percent.
Buoyed by the strong results, Fidelity Bank is proposing a N3.2BN payout which translated to11 kobo dividend to shareholders.
“We are delighted by our 2018 numbers, which clearly shows a sustained performance trajectory. We are growing our market share with continued traction in our chosen business segments. We recoded double digits growth in interest income on our liquid assets, digital banking, FX and other income lines” said Fidelity Bank CEO, Nnamdi Okonkwo.
As seen in recent years, the bank’s digital retail banking approach has continued to yield positive results. Savings recorded its 5thconsecutive year of double digit growth with a 27.7 % increase to peak at N228BN. “Savings accounts for over 23 % of our Total Deposits, an attestation of our increasing market share in the retail segment”, he stated.
Okonkwo was also very enthused with the progress of its digital banking play stating that over 42% of customers are now enrolled on the bank’s mobile/ internet banking products and more than 81 % of total transactions done on digital platforms, resulting in 25% of fee-based income, coming from digital banking
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ZENITHBANKPARTNERSLAWMA,LASWATOCOMMEMORATEWORLDENVIRONMENT DAY 2026 WITH TWO-PHASE LAGOS CLEAN-UP
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Much more than commemorating the annual Children’s Day marked every May 27, Zenith Bank Plc is championing thenarrativethatchildrenarethetrueleadersoftomorrow.TheBankhasdeepeneditsinvestmentincarefullycuratedinitiativesthatelevatechildrenacrosseducation,financialliteracy,health,digitalinclusion,andsocialprotection,building a generation equipped to thrive and lead. For Zenith Bank, every child matters, and the Bank’s footprint reflectsa deliberate, pan-African strategy to nurture potential from the earliest age.Zenith Bank has been the financial institution partner to Kiddies Corner on Inspiration 92.3FM Lagos for over threeyears, anchoring the Tuesday edition and Zenith Financial Literacy Friday show. The programme blends spelling beecontestswithfinancialliteracyquestions,creatingawarenessandonboardingchildrenintotheZenithChildren’sAccount (ZECA). This partnership came alive at the Inspiration FM Children’s Day Carnival on Saturday, May 23, 2026,whereZenithBankhostedover1,000childrenandtheirparents,celebratingZECAwinnerswithgames,skits,andZenith Bank branded gifts.The Bank’s Zenith Financial Literacy Week, held quarterly, takes this mission into select schools across all 36 statesandtheFCT.Studentsaretrainedonsavings,budgeting,basicinvestments,anditsretailproducts,withthetopperformer in each school awarded N50,000. Complementing this is the Bank’s nationwide Financial Literacy ProgramundertheCBN-mandatedGlobalMoneyWeek,whichin2025alonereached3,622studentsacross22LGAs,deploying 137 bank employee volunteers as educators.In alignment with the United Nation’s (UN) Sustainable Development Goal (SDG) 4 on Quality Education, Zenith Bankhasdonatedstate-of-the-artICTcentresandcomputersystemstoschoolsanduniversitiesnationwide,includingaComputerCentretoBamainaAcademy,Dutse,JigawaState.Itstransformativeinterventionsincludefullyequippedlibraries,vocationalfacilities,andlarge-scaleschoolrenovations,fromOjotaSecondarySchoolandVictoriaIslandSecondary School in Lagos to Hugallawa Primary School in Jigawa. Targeted financial support further breaks barrierswith N1 million cash donation to Louisville Girls High School, Ijebu-Itele, supporting girl-child education; infrastructureupgrades at Maryland Comprehensive Secondary School; a N1 million scholarship endowment for St. Francis CatholicSecondary School; and support for the North-East Children’s Fund to aid education in conflict-affected communities.Through its Primary Healthcare Centre Initiative across all 774 LGAs, Zenith Bank educates parents on early childhoodsavings during routine visits, linking health and financial well-being. The “PAD-A-QUEEN” Initiative commemorates theInternational Day of the Girl Child, reaching5,000 girls in 10 schools withsanitary pads, hygiene kits, and menstrualhealth education to keep girls in school and promote SDGs 3, 4, and 5.The Bank’s compassion extends to the most vulnerable. At Bethesda Home and School for the Blind, Idi Oro, Lagos,Zenith donatedbraille materials,food, and toiletries.For the2026 InternationalDay forStreet Children,it partneredwithBosco Child Protection Centre on medical check-ups, food, clothing, and counseling. Annual Christmas Charity Visits toorphanagesdelivercash,toys,andessentialsupplies,whilesupportfortheSmileandShineChildrenFoundation’sStrive Conference empowers over 2,000 adolescents with life skills and leadership training.Commenting on the Bank’s intentionality towards the development of children, Dame Dr. Adaora Umeoji, OON, GroupManaging Director/CEO, ZenithBank Plc, said, “AtZenith Bank, weare deliberate about initiativesthat elevate childrenbecausetheyarenotjustourfuture,theyareourpresentresponsibility.AsWhitneyHoustonsopoignantlysang,‘Ibelievethechildrenarethefuture,teachthemwellandletthemleadtheway.’Thatisthephilosophydrivingourinvestmentsineducation,financialliteracy,health,anddigitalinclusion.FromKiddiesCornertoICTcentres,fromPHCs to orphanages, we are teaching them well, equipping them early, and giving them the tools to lead. Zenith Bankrenews its commitment to every Nigerian child, to nurture their dreams, protect their dignity, and secure their tomorrow.”Championing youth expression, the Zenith Annual Youth Parade, hosted by the Bank for 19 years, stands as a flagshipCorporate Social Responsibilityinitiative. Bringing togetherthousands of childrenand teenagers in avibrant showcaseof unity and discipline, the parade has remained dedicated since inception to the vital mission of supporting, nurturing, -
andempoweringtheNigerianchild,reinforcingtheBank’sbeliefthatleadershipislearnedearlythroughteamwork,confidence, and celebration of young Nigerian identity.ForZenithBank,Children’sDayismorethanadateonthecalendar.Itisadailypledgetoempower,protect,andprepareNigeria’schildrenforleadership.Fromclassroomstocommunities, the Bank’s initiatives are teaching them welland letting them lead the way because the future belongs to children who are equipped today.
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