Nigeria, May 12 -- Fidelity Bank recorded a 45.6 per cent surge in revenue for last year, compared to 2024, as the financial institution witnessed reasonable growth across its key income streams.

The lender posted gross earnings of N1.5 trillion in the period, up from N1 trillion, according to its newly released audited financial results for the period, taking turnover to its highest level on record.

Nevertheless, net profit for the year under review slid by 12.8 per cent to N242.4 billion from N278.1 billion amid soaring costs.

One of the major pressure points was the N223.8 billion the lender incurred as derivative losses, which contrasts with the derivative gains of N57.9 billion reported a year earlier.

Likewise, other operating e...