By JKNewsMedia
NIGERIA’s EQUITIES market stirred from its recent quiet spell with a Friday morning surge, sparked by investor interest in Fidelity Bank Plc shares.
By 11am, the Nigerian Exchange All Share Index (ASI) had climbed 0.19 percent to 109,385.94 points, driven largely by gains in Fidelity Bank stock.
The share price rose to N18.60, marking a 6.63 percent increase and adding N1.255 in value.
The market’s rebound followed a negative close on Thursday. Analysts at Vetiva, reflecting on recent trading activity, had highlighted weakening market breadth and mounting pressure across key sectors.
Their note cautioned that without renewed demand, especially in banking and consumer goods, the week might end on a softer tone.
Still, some voices had anticipated a turnaround. BusinessDay earlier advised investors to seize opportunities in the market dip, reflecting Fidelity Bank as a prime candidate for either a hold or buy position.
Supporting that call, Fidelity Bank’s first quarter 2025 financials showed robust growth.
Profit Before Tax surged to N105.8 billion—an increase of 167.8 percent year-on-year. Gross earnings jumped 64.2 percent to N315.4 billion, fuelled by strong interest and non-interest income streams.
On the balance sheet, total deposits reached N6.6 trillion, an 11.1 percent rise from the start of the year.
Net loans and advances also edged up by 5 percent to N4.6 trillion, indicating a healthy liquidity profile and effective asset management.
However, investors appear to be responding to these fundamentals, positioning Fidelity Bank as a potential anchor for a broader market recovery.
