The purchase, executed at a price of N20.35 per share, elevates Dr. Onyeali-Ikpe's total shareholding in Fidelity Bank from 94,644,260 units to 112,644,260 units, marking a remarkable 19.02% increase. This latest acquisition significantly bolsters her stake within the directorate, rising from 25.56% as of December 31, 2024, to an impressive 29.03% of the total director shareholding.
A Vote of Confidence Amidst Market Buzz
This substantial investment by the CEO comes at a pivotal time for Fidelity Bank. The acquisition not only sent positive ripples through the market, with Fidelity Bank leading the volume chart on May 19, 2024, by exchanging 60.1 million shares on the Nigerian Exchange, but it also followed swiftly on the heels of the bank publicly refuting a false bankruptcy claim. The bank had issued a statement the same day, clarifying that the unfounded allegations were an orchestrated attempt to discredit the institution. Dr. Onyeali-Ikpe's decisive action serves as a powerful testament to her belief in the bank's stability and future trajectory, likely boosting investor confidence and dispelling any lingering doubts.
Bullish Market Performance
Fidelity Bank has maintained a bullish trend throughout 2025, demonstrating remarkable resilience and growth. The stock has seen a year-to-date gain of 8.6%, opening the year at N17.50. Fueled by a substantial trading volume of 292.2 million shares, the stock closed January on a high note at N19.45. Despite a brief dip to N17.80 in April, Fidelity Bank shares have consistently shown strength, closing positively in both March and April and reaching N19.95 by the end of April. As of May 19, 2025, the shares are trading at N19.00, reflecting sustained investor interest.
Exceptional Q1 2025 Financial Results
The bank's strong market performance is well-supported by its impressive financial results for the first quarter of 2025. Fidelity Bank Plc reported a pre-tax profit of N107.77 billion, representing an astounding 167.79% year-on-year growth. This exceptional performance was primarily driven by a significant surge in interest income, which accounted for 89% of the bank's total gross earnings.
A deeper dive into the Q1 results reveals that interest from loans and advances to customers constituted a substantial 75% of the total interest income, highlighting the bank's effective lending strategies. Furthermore, income from investments in securities played a crucial role, contributing 18.31% to the total interest earnings. The bank's balance sheet also reflects this robust momentum, with customer deposits rising by 11.15%, attracting an impressive N661.95 billion in new deposits. This surge in deposits signals strong market confidence in Fidelity Bank. Consequently, total assets soared by 18.48% to N10.45 trillion, and cash reserves dramatically increased by 128.90% to N1.62 trillion, solidifying the bank's liquidity and financial strength.
Dr. Onyeali-Ikpe's increased stake in Fidelity Bank, coupled with the bank's strong financial performance and positive market trends, paints a picture of a well-managed and resilient institution poised for continued growth.