The Cable NG stories that the market capitalisation of Fidelity Bank has crossed the N1 trillion mark because the share worth of the corporate appreciated by 1.27 p.c on the shut of buying and selling.
In accordance information from the Nigerian Trade Group (NGX), the {bank}’s market capitalisation hit N1 trillion after its share value rose from N19.75 on Tuesday to N20 on Wednesday.
The rise moved the corporate’s valuation from N991.6 billion to N1 trillion.
With the event, Fidelity Bank joins the checklist of economic establishments with a market capitalisation of over N1 trillion.
The businesses are Zenith Bank, Access Bank, United {Bank} of Africa (UBA), Guaranty Trust {Bank} (GTB), and First {Bank}.
On Might 21, Nneka Onyeali-Ikpe, the managing director (MD) and chief govt officer (CEO) of Fidelity Bank, acquired an extra 18 million shares within the {bank}.
Two days later, Onyeali-Ikpe purchased extra 2 million items of shares within the {bank}.
In response to a regulatory submitting on the NGX, the shares had been acquired on Might 22, at N18.6 every — amounting to a complete worth of N37.2 million.
The acquisitions elevated her shareholding within the {bank} to 114.64 million shares — from 94.64 million held as at December 31, 2024.
In its newest {financial} efficiency report, Fidelity Bank stated it reported a 167.8 p.c year-on-year enhance in revenue earlier than tax (PBT), which elevated to N105.8 billion within the first quarter (Q1) of 2025.
