GCR raises Fidelity Bank's rating to A+ (NG) after NGN227bn capital injection
GCR Ratings has upgraded Fidelity Bank Plc’s national-scale long-term issuer rating to A+ (NG) from A (NG), while affirming its short-term rating at A1 (NG) with a stable outlook. The upgrade follows the bank’s addition of NGN227.0 billion to its total core capital in 2025, which was recognised as core capital in 2026, pushing the core capital ratio to 29.4% by end-March 2026 from 17.2% in December 2025. Fidelity Bank now reports total assets of NGN10.5 trillion, an estimated 8.0% share of the industry’s gross loans, ranking it as Nigeria’s sixth-largest bank. The bank plans to use its international banking licence to enter three additional African markets over the medium term, aiming to diversify country exposure and strengthen competitiveness. Its funding profile remains strong: customer deposits grew 16.1% by end-2025 and a further 7.1% by March 2026 to NGN7.4 trillion, making up 89.5% of the funding base, with about 90% in low-cost current and savings accounts. Liquid assets covered customer deposits by 56.9% and wholesale funding by 4.8 times. GCR expects the core capital ratio to stay above 20.0% over the outlook period, supported by earnings retention, stable funding, strong liquidity and resilient asset quality.
What does this mean for you? If you are an investor, the stronger capital base and stable outlook signal lower risk and potential for steady returns. If you are a customer or business, the bank’s enhanced capacity may translate into better lending terms and expanded services across Africa. Will you consider Fidelity Bank for your savings, investments, or business banking needs given its improved rating and expansion plans?