Fidelity Bank (FIDELITYBK) investor relations material

Opening remarks and agenda

• The 38th AGM was held virtually on October 9, 2026; agenda included FY2025 audited accounts, director elections, auditor remuneration, manager remuneration disclosure, and Audit Committee elections.

• Shareholders were asked to receive the FY2025 audited financial statements and accompanying directors’, auditors’, Audit Committee, and independent board appraisal reports.

Financial performance review

• FY2025 gross earnings rose 45.6% to NGN 1.5 trillion despite global headwinds; execution, risk management, governance, and customer service were cited as key supports.

• A second-phase private placement raised NGN 227.05 billion, bringing capital to NGN 532.6 billion, above the NGN 500 billion minimum for internationally authorized banks.

• Deloitte & Touche gave an unmodified opinion; auditors also reported that NGN 2025 regulatory contravention penalties were paid and related-party transactions were disclosed.

• Shareholders cited an NPL ratio of 2.4%, customer deposits of 16 million, and a capital adequacy ratio of 16.1%; another shareholder observed turnover growth and a slight decline in profit.

Board and executive committee updates

• Dr. Jonathan Ososuakpor was proposed for election as a non-executive director; Mrs. Amaka Onwughalu offered herself for re-election, while Chief Nelson Nweke planned to retire by rotation and not seek re-election.

• Mrs. Onwughalu was re-elected; her board service began in December 2020, and the board cited her financial-sector experience, committee contributions, and 100% meeting attendance.

• MD succession involves internal review followed by CBN review and approval; the process was at the CBN stage at the AGM.

• The Statutory Audit Committee’s shareholder representatives for FY2026 were set as Chief Frank Onwu, Mr. Innocent Mmuoh, and Alhaji Kabiru Tambari, alongside two board representatives.