GCR Raises Fidelity Bank’s Long‑Term Rating to A+ After Capital Boost
GCR Ratings upgraded Fidelity Bank Plc’s long‑term issuer rating to A+ (NG) from A (NG) while keeping the short‑term rating at A1 (NG).
In Brief
- •GCR Ratings upgraded Fidelity Bank Plc’s long‑term issuer rating to A+ (NG) from A (NG) while keeping the short‑term rating at A1 (NG).
- •The upgrade follows the addition of NGN227 billion to core capital, lifting the core capital ratio to 29.4 % at the end of March 2026 from 17.2 % in December 2025.
- •Fidelity Bank’s total assets reached NGN10.5 trillion and it holds an 8 % share of Nigeria’s gross loans, ranking it the country’s sixth‑largest bank.
- •Customer deposits grew 16.1 % to December 2025 and 7.1 % to March 2026, totaling NGN7.4 trillion, which represents 89.5 % of the bank’s funding base.
Why It Matters
The A+ upgrade signals a stronger capital base and financial resilience, potentially lowering borrowing costs and enhancing investor confidence. It also positions Fidelity Bank to pursue expansion into three additional African markets, which could diversify revenue streams and increase its competitive standing in the region.
Key Details
- Long‑Term Rating
- A+ (NG)
- Short‑Term Rating
- A1 (NG)
- Core Capital Ratio (Mar 2026)
- 29.4 %
- Core Capital Ratio (Dec 2025)
- 17.2 %
- Capital Raised (2025)
- NGN227 billion
- Total Assets (Dec 2025)
- NGN10.5 trillion
Context & Background
GCR Ratings, a Nigerian credit rating agency, upgraded Fidelity Bank Plc following a significant capital injection that strengthened its core capital ratio.
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