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By Wasiu Alli –
Fidelity Bank Nigeria has emerged as the fastest-growing Nigerian brand, with its value more than tripling and displacing Stanbic IBTC, according to a new report by Brand Finance, a London-based brand valuation consultancy.
The bank’s rise underscores its expanding market influence and growing investor confidence, as it continues to deliver value to customers amid challenging economic conditions.
“Fidelity Bank’s brand value growth is underpinned by strong financial performance in 2024, during which the bank reported a 210% increase in Profit Before Tax (PBT), soaring to N385.2 billion,” Brand Finance stated in its annual valuation report.
“Gross earnings also rose significantly, reflecting both higher interest income and a growing customer base,” the report added.
The bank’s public offer, announced in February, was oversubscribed by 237.9%, while its rights issue saw a 137.7% oversubscription—demonstrating strong investor confidence in its strategic direction.
“The bank’s operational excellence and strategic direction have been widely recognised, most notably with its being named Nigeria’s Best Private Bank at the Euromoney Awards 2025,” the report noted.
“This recognition reinforces Fidelity Bank’s strong reputation for delivering tailored wealth management solutions and outstanding client service across Nigeria and beyond.”
The bank is attracting increased investor attention, allowing it to rejoin the group of Nigerian companies with a market capitalisation of N1 trillion.
This was supported by a 5.3% rise in its share price—from N19.95 to N21.00—at the close of trading on May 13, 2025, on the Nigerian Exchange Limited.
In 2024, Fidelity Bank’s stock gained 141%, rising from N8.70 in May of that year. The rally has been partly attributed to the bank’s strong financial performance, which included a 189% increase in profit after tax—the highest among Nigeria’s top 10 banks.
That momentum has continued into 2025, with the bank recording a 190% surge in after-tax profit to N91 billion in Q1, driven by increased interest income, foreign exchange gains, and improved cost efficiency.
Fidelity Bank is also on track to meet the Central Bank of Nigeria’s N500 billion minimum capital requirement through equity issuance.
The report also highlighted that United Bank for Africa (UBA) and First Bank of Nigeria are now among the strongest brands in the country, having weathered economic volatility to deliver value and build customer loyalty.
Meanwhile, Access Bank retained its position as Nigeria’s most valuable brand for the fourth consecutive year. As the country’s largest lender by assets, it more than doubled its brand value to N893.3 billion.
In the 2025 ranking, banks dominated the landscape, accounting for 59% of total brand value—a testament to the sector’s resilience and strong performance despite tough economic times.
Brand value is defined as the net economic benefit a brand owner would obtain by licensing the brand in an open market. Brand strength refers to the effectiveness of a brand’s intangible performance compared to competitors.
Brand Finance assessed banking brands’ international reach to better understand their global positioning and performance. It used the royalty relief approach to measure brand value, which combines both market-based and income-based valuation methods.
As published on the BusinessDay website.
