Bank
Fidelity Bank grows PBT by 167.8% to N105.8 billion in Q1 2025
Fidelity Bank grows PBT by 167.8% to N105.8 billion in Q1 2025
Lagos, Nigeria – May 1, 2025 – Fidelity Bank Plc, one of Nigeria’s leading Tier-1 financial institutions, has announced a remarkable financial performance for the first quarter of 2025, recording a Profit Before Tax (PBT) of N105.8 billion, representing an impressive growth of 167.8% compared to N39.5 billion in Q1 2024.
The bank’s unaudited financial statements, released on the Nigerian Exchange (NGX) on April 30, 2025, highlight a substantial increase in Gross Earnings, which rose to N315.4 billion, marking a year-on-year growth of 64.2% from N192.1 billion in the same period last year. Growth in interest income was primarily led by 38.6% yoy (7.4% ytd) expansion in earning assets base, while the increase in non -interest revenue came from FX-related income, trade and commission on banking services, etc., supported by increased customer transactions.
Commenting on the bank’s performance, Dr. Nneka Onyeali-Ikpe,OON, Managing Director/Chief Executive Officer of Fidelity Bank Plc, stated, “We started the year with triple-digit growth in profit and sustained the momentum in our earning assets growth. This performance shows the resilience of our business model and reinforces our confidence in delivering a better result in the 2025 financial year.”
Other areas of the unaudited financial statements, equally show a marked improvement with Total Deposits growing by 11.1% ytd to N6.6tn from N5.9tn in December 2024, driven by 10.6% ytd growth in low-cost deposits to N6.1tn, which represents 92.2% of total customer deposits. Local currency deposits increased by 2.0% ytd while foreign currency deposits increased by 21.4% from $1.9bn in December 2024 to $2.3bn.
Net Loans and Advances increased by 5.0% ytd to N4.6tn. The growth in the bank’s Loan Book was skewed to LCY Loans as cost of risk declined to 0.6% from 1.5% in 2024FY.
“Beginning the year with such positive momentum reinforces our commitment to supporting the growth of individuals and businesses, while enhancing our financial sustainability. As we go into the rest of the year, we remain focused on building a resilient banking franchise with a diversified earnings base,” Onyeali-Ikpe added.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
Bank
FirstBank Introduces Exclusive 500-Seater Bleacher at Carnival Calabar & Festival 2025
FirstBank Introduces Exclusive 500-Seater Bleacher at Carnival Calabar & Festival 2025
Lagos, 26 December 2025 – FirstBank, West Africa’s premier financial institution and financial inclusion services provider, has officially announced its sponsorship of the Carnival Calabar & Festival 2025, unveiling a landmark addition set to redefine the carnival experience — the first-ever private premium seating area at the event.
The highlight of FirstBank’s participation is the construction of a 500-seater premium bleacher, designed to provide comfort, safety, and an elevated viewing experience for carnival enthusiasts.
Speaking on the sponsorship, the Acting Group Head Marketing and Corporate Communications, FirstBank, Olayinka Ijabiyi, noted that the carnival aligns with the Bank’s First@Arts initiative, a platform dedicated to supporting the creative arts value chain across Nigeria. He said, “We recognise the transformative power of the arts, including carnivals, in inspiring people and strengthening national unity. For more than 131 years, we have supported platforms that promote self-expression, social reflection and cultural exchange. Our investment in the Carnival Calabar & Festival demonstrates our commitment to preserving the nation’s rich cultural heritage through First@Arts.”
“As part of our sponsorship this year, we are introducing the first-ever private 500-seater premium bleacher to further elevate the carnival experience. This exclusive seating is designed to provide exceptional comfort and an unforgettable viewing experience for attendees,” Ijabiyi added.
The Chairman of the Cross River State Carnival Calabar Commission, Gabe Onah, also commented on FirstBank’s sponsorship. “FirstBank’s involvement is a strong demonstration of private-sector support for culture and tourism. This partnership not only enhances the overall quality of the carnival but also strengthens its global appeal,” he said.
The Carnival Calabar & Festival 2025 is officially marketed by Okhma Global Limited, the appointed Official Marketer responsible for brand partnerships, promotional engagements, and ticket sales. Okhma Global Limited has partnered with the Cross River State government in delivering Carnival Calabar & Festival for over ten years, playing a key role in strengthening the carnival’s commercial growth and global visibility.
Bank
Alpha Morgan Bank Backs Cultural Preservation at the 2025 Iganmode Festival
Alpha Morgan Bank Backs Cultural Preservation at the 2025 Iganmode Festival
Alpha Morgan Bank has reaffirmed its commitment to cultural preservation and community development as one of the major sponsors of the recently concluded Iganmode Cultural Festival (Odun Omo Iganmode) held in Sango-Ota, Ogun State.
The annual festival, a landmark cultural celebration in the ancient town of Ota, showcased the rich heritage, history, and identity of the Awori people. The event came alive with vibrant displays of traditional music, dance, colourful regalia, and performances that reflected the deep-rooted customs and values of the community.
Alpha Morgan Bank’s sponsorship followed closely on the heels of the recent launch of its Sango-Ota branch, further underscoring the Bank’s dedication to supporting local initiatives, promoting indigenous culture, and fostering sustainable community development in Ota and its environs.
The ceremony attracted an impressive array of dignitaries, including former President of Nigeria, His Excellency Chief Olusegun Obasanjo; Deputy Governor of Ogun State, Engr. (Mrs.) Noimot Salako-Oyedele; and the Olota of Ota, His Majesty, Prof. Adeyemi Obalanlege, alongside several other traditional rulers and members of royal households from across the state. Their presence highlighted the cultural and historical significance of the festival to Ogun State and the wider Yoruba nation.
Alpha Morgan Bank’s participation as a major sponsor reflects its broader corporate vision of strengthening community values and supporting initiatives that promote Nigeria’s rich cultural heritage. The Bank joined thousands of attendees in celebrating a festival that continues to serve as a symbol of unity, pride, and cultural continuity for the people of Ota.
The 2025 edition of the Iganmode Festival was widely acclaimed as a success, leaving guests and participants with lasting impressions of a colourful, well-coordinated celebration that honoured tradition while fostering communal harmony.
Bank
12 Days of Christmas with 5 for 5 Rewards: Celebrating the Season the Wema Way
*12 Days of Christmas with 5 for 5 Rewards: Celebrating the Season the Wema Way*
December is a season built on gratitude, reflection, and giving. It is a time when small gestures carry deeper meaning and everyday moments turn into shared joy. At Wema Bank, this spirit of the season has inspired the launch of 12 Days of Christmas with 5 for 5 Rewards, a festive campaign created to celebrate customers who continue to make the Bank part of their daily lives.
Running from December 14 to December 25, 2025, the campaign is designed to reward simple, everyday banking while spreading cheer across homes and communities. For twelve days, 33 customers will be rewarded daily with five thousand naira each when they fund their accounts with five thousand naira.
The idea behind the campaign is simple in action but thoughtful in intent. It recognises that during the festive period, every extra support counts. Whether it is preparing for family gatherings, running errands, or planning end-of-year activities, Wema Bank is turning routine transactions into moments of delight.
To take part in the 12 Days of Christmas with 5 for 5 Rewards, customers only need to fund their accounts with five thousand naira through any of the following channels:
ALAT app
*945#
Debit cards
Once the account is funded with five thousand naira, they get an additional five thousand naira as a reward.
Beyond the rewards, the 12 Days of Christmas with 5 for 5 Rewards reflects Wema Bank’s broader commitment to customer-centric banking. It reinforces the Bank’s focus on creating experiences that go beyond transactions, especially during moments that matter most to customers.
As the year draws to a close, Wema Bank is inviting customers to enjoy the festive season knowing that their loyalty is valued and celebrated. With every transaction, the Bank continues to find new ways to connect, appreciate, and give back during a season defined by generosity.
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