Fidelity Bank Exceeds N500bn Capital Benchmark for Growth

Fidelity Bank Plc has successfully exceeded the N500 billion capital benchmark set by the Central Bank of Nigeria (CBN) as part of its recapitalization program, which is due by March 31, 2026. This achievement positions the bank as a first-tier financial institution with a strong investor backing.

The bank launched a combined public offer and rights issue in June 2024, which was well-received, with subscriptions reaching approximately 138%, effectively doubling the initial offer size. This indicates robust investor demand, particularly from its broad retail investor base, which prioritizes dividend payments and capital appreciation.

Additionally, on December 31, 2025, Fidelity Bank concluded a private placement that was driven by heightened demand for its shares on the Nigerian Exchange (NGX). Fitch Ratings has upgraded the bank's creditworthiness, attributing this to its strengthened capital buffer, improved profit metrics, and expanded franchise, noting that it ranks as Nigeria's sixth-largest bank by total assets, which accounted for five percent of the domestic banking system's assets.