Fidelity Bank Plc has recorded a major milestone in its corporate and regulatory journey after achieving a capital base of ₦564.5 billion, following the successful completion of a private placement of ordinary shares. The development marks a decisive step in the bank’s recapitalisation strategy and places it comfortably above the Central Bank of Nigeria’s (CBN) ₦500 billion minimum capital requirement for commercial banks with international authorisation.
The journey to this achievement began against the backdrop of sweeping regulatory reforms in Nigeria’s banking sector. In 2024, the CBN introduced a comprehensive recapitalisation framework aimed at strengthening financial system stability, improving banks’ capacity to support economic growth, and safeguarding depositors’ funds. Under the new rules, international commercial banks were required to raise their minimum capital base to ₦500 billion by March 31, 2026. This announcement triggered a wave of capital-raising activities across the industry, compelling banks to reassess their balance sheets and long-term strategies.
In response, Fidelity Bank adopted a phased and deliberate approach. Earlier capital-raising efforts, including a public offer and rights issue, had already strengthened the bank’s capital position, lifting eligible capital to ₦305.5 billion. While significant, this level was still short of the new regulatory threshold, making further action necessary to protect the bank’s international licence and competitive standing.
The foundation for the latest exercise was laid on February 6, 2025, when Fidelity Bank’s shareholders, at an Extraordinary General Meeting, authorised the board to issue up to 20 billion ordinary shares by way of a private placement. This mandate provided management with the flexibility required to attract strategic investors and deepen the bank’s capital base without diluting public market stability.
The private placement itself was executed and concluded on December 31, 2025. Through the exercise, Fidelity Bank raised ₦259 billion in fresh equity capital. The proceeds lifted the bank’s eligible capital from ₦305.5 billion to ₦564.5 billion, effectively overshooting the CBN’s minimum requirement. The transaction was conducted in line with regulatory guidelines, and the bank is currently awaiting final regulatory approvals to fully reflect the new capital position.
The successful outcome of the private placement is widely seen as a strong vote of confidence by investors in Fidelity Bank’s governance, performance, and growth prospects. It significantly strengthens the bank’s balance sheet, enhances its capacity to absorb economic shocks, and positions it to undertake larger corporate and infrastructure financing transactions. Importantly, it also ensures that Fidelity Bank remains firmly in compliance with regulatory expectations well ahead of the 2026 deadline.
In the broader context of Nigeria’s banking sector, Fidelity Bank’s achievement underscores the intensity of the ongoing recapitalisation drive and highlights the institutions that are moving early and decisively to secure their future. As regulatory approvals are finalised, the bank is expected to leverage its strengthened capital base to expand operations, deepen market share, and play a more prominent role in financing Nigeria’s economic development.
Overall, the ₦564.5 billion capital milestone represents not just a regulatory win for Fidelity Bank, but a strategic statement of resilience, preparedness, and long-term ambition in an increasingly competitive financial landscape.
