Fidelity Bank Plc has officially joined the exclusive league of Nigerian financial institutions with a market capitalisation exceeding ₦1 trillion, following a steady rise in its share price on the Nigerian Exchange Group (NGX).
According to data from the NGX, Fidelity Bank’s market cap rose to ₦1 trillion on Wednesday after its share price increased by 1.27 percent — moving from ₦19.75 on Tuesday to ₦20 per share.
The development marks a significant milestone for the bank, whose valuation stood at ₦991.6 billion prior to the increase. With this feat, Fidelity Bank now sits alongside financial giants such as Zenith Bank, Access Bank, United Bank for Africa (UBA), Guaranty Trust Bank (GTB), and First Bank in the trillion-naira valuation club.
Reacting to the milestone, Nneka Onyeali-Ikpe, Managing Director and Chief Executive Officer of Fidelity Bank, described the achievement as a testament to investor confidence and the bank’s strong fundamentals.
“Crossing the ₦1 trillion mark reflects the market’s trust in our growth strategy, operational efficiency, and the value we are delivering to shareholders,” Onyeali-Ikpe said.
The achievement follows a series of strategic personal investments by the CEO. On May 21, she acquired 18 million additional shares of the bank. Two days later, she bought another 2 million units — both at ₦18.60 per share — bringing the total transaction value to ₦37.2 million.
With the latest acquisitions, her total shareholding in the bank has increased to 114.64 million shares, up from 94.64 million as at December 31, 2024.
Industry analysts say the CEO’s investment move sent a strong positive signal to the market. “When the CEO puts her own money into the business, it tells you she believes in the bank’s long-term growth trajectory,” said Kunle Adeyemi, a Lagos-based financial analyst.
Fidelity Bank’s strong first-quarter performance also played a key role in boosting investor sentiment. The bank reported a 167.8 percent year-on-year surge in profit before tax (PBT), reaching ₦105.8 billion in Q1 2025.
Analysts expect the bank’s momentum to continue amid expanding market presence and strategic initiatives in retail and digital banking.
“We will keep pushing boundaries to create value for our stakeholders. This milestone is just the beginning,” Onyeali-Ikpe added.
With increasing investor confidence and continued financial performance, Fidelity Bank appears well-positioned to sustain its upward trajectory in Nigeria’s competitive banking sector.