Fidelity Bank has emerged as Nigeria’s fastest-growing brand, with its brand value more than tripling in the latest rankings released by Brand Finance, a London-based global brand valuation consultancy.
According to the report published on the *BusinessDay* website and authored by Wasiu Alli, Fidelity Bank displaced Stanbic IBTC in the latest rankings, a reflection of its expanding market influence and growing investor confidence.
The Brand Finance report credited Fidelity Bank’s remarkable rise to its strong financial performance in 2024, during which the bank posted a staggering 210 percent increase in Profit Before Tax (PBT), reaching N385.2 billion. The bank’s gross earnings also grew significantly, driven by increased interest income and a rapidly growing customer base.
“The bank’s brand value growth is underpinned by strong financial performance in 2024,” the report stated. It added that Fidelity’s public offer and rights issue were oversubscribed by 237.9 percent and 137.7 percent respectively — a strong indicator of investor trust in the bank’s strategic direction.
Further cementing its brand prestige, Fidelity Bank was named “Nigeria’s Best Private Bank” at the 2025 Euromoney Awards, in recognition of its tailored wealth management services and excellence in client relations across Nigeria and beyond.
These achievements have returned Fidelity to the elite group of Nigerian companies with a market capitalisation of over N1 trillion. On May 13, 2025, the bank’s share price rose by 5.3 percent, from N19.95 to N21.00 on the Nigerian Exchange Limited (NGX). In the past year alone, the bank’s stock value surged by 141 percent, rising from N8.70 in May 2024.
That momentum has continued into 2025, with the bank posting a 190 percent increase in profit after tax in the first quarter, amounting to N91 billion. This growth has been driven by a combination of increased interest income, foreign exchange gains, and operational efficiency.
Fidelity Bank is also on track to meet the Central Bank of Nigeria’s N500 billion minimum capital requirement through equity financing, further reinforcing its financial strength and long-term stability.
Meanwhile, Brand Finance named United Bank for Africa (UBA) and First Bank of Nigeria as the strongest banking brands in the country, commending their resilience in the face of economic volatility. Access Bank retained its title as Nigeria’s most valuable banking brand for the fourth consecutive year, with its brand value more than doubling to N893.3 billion.
The 2025 rankings show that Nigerian banks accounted for 59 percent of total brand value, a strong indication of the sector’s robust growth and performance despite prevailing economic headwinds.
Brand Finance’s valuation model uses the “royalty relief” approach, combining both market-based and income-based methods to assess brand value and strength. The methodology measures the economic benefit a brand owner would derive by licensing the brand in the open market, as well as the brand’s performance relative to competitors.