Lagos, Nigeria – Union Bank of Nigeria has reaffirmed its reputation as a strong supporter of Nigerian businesses, receiving the Best SME Growth Banking Initiatives Award for 2025 from the Association of Small Business Owners of Nigeria (ASBON) at the Nigeria National SME Business Awards, held recently in Lagos.The award was presented to the Bank in recognition of its strategic leadership in advancing the growth and resilience of small and medium-sized enterprises, through a differentiated suite of solutions designed to enable business expansion and long-term value creation.Receiving the award on behalf of the Bank, Ayokunnumi Abraham, Head of SME Segment at Union Bank, described the recognition as a strong endorsement of the Bank’s commitment to supporting small and medium-sized businesses. He said:”We are honoured to receive this recognition, which reflects Union Bank’s continued commitment to helping SMEs grow by making banking simpler, faster, and more accessible. Through enhancements to our specialised platforms such as Union360, we have meaningfully reduced the time it takes for businesses to come on board and begin transacting. These improvements have shortened onboarding, increased digital adoption among our SME customers, and supported the acquisition of new business clients. Our focus remains on delivering practical solutions that help Nigerian businesses thrive.”Organised by ASBON in partnership with the Lagos State Government through the Ministry of Commerce, Cooperatives, Trade and Investment, the event convened stakeholders from the public and private sectors to recognise individuals and organisations driving meaningful impact across Nigeria’s SME ecosystem.Union Bank remains focused on deepening its support for SMEs through customer-led solutions and processes that strengthen business growth across the ecosystem.###Note to Editors:About Union Bank of Nigeria Plc’s Established in 1917, Union Bank is a leading provider of financial services in Nigeria, renowned for its “Simpler, Smarter Banking” philosophy. With a nationwide network and a strong focus on digital innovation, Union Bank continues to empower individuals, businesses, and the public sector to achieve lasting success.The Bank is a trusted and recognisable brand with an extensive network of over 300 branches across Nigeria. The Bank offers a range of banking services to individual and corporate clients, including current, savings, and deposit account services, funds transfer, foreign currency domiciliation, loans, overdrafts, equipment leasing, and trade finance. The Bank also offers customers convenient electronic banking channels and products, including Online Banking, Mobile Banking, Debit Cards, ATMs, and POS Systems.More information can be found at: www.unionbankng.comMedia Enquiries: Olufisayo Adelekun+234 (0) 201 271 6800mediarelations@unionbankng.com

Members of Cyclotron Club in the newly unveiled Polaris Bank co-branded cycling jersey, after a wellness ride held as part of the LiveWell by Polaris initiative in Lagos.

Polaris Bank, Nigeria’s leading digital retail and commercial Bank institution, has announced a strategic partnership with Cyclotron Cycling Development Initiatives, otherwise known as Cyclotron Club, to advance LiveWell by Polaris, the Bank’s flagship wellness initiative designed to promote healthy living, preventive healthcare, and overall wellbeing among employees, customers, and communities across Nigeria.The partnership was formally unveiled at a ceremony held at the Bank’s headquarters last Saturday in Lagos, where both organisations launched a co-branded partnership jersey symbolising their shared commitment to fostering healthier lifestyles and supporting cause-driven advocacy through cycling.LiveWell by Polaris is a comprehensive wellness initiative created by Polaris Bank to encourage physical fitness, mental wellbeing, and healthier lifestyle choices. Through initiatives such as; fitness challenges, health awareness campaigns, and strategic partnerships, the programme reinforces the Bank’s belief that personal wellbeing is essential to productivity, financial success, and sustainable development.Cyclotron Club, a premium Not-for-Profit association is dedicated to promoting safe, healthy, and organised cycling among professionals across sectors including medicine, finance, law, technology, automobile and academia. The Club is widely recognised for its cause-based cycling campaigns, including the Lagos–Accra–Lagos Ride for Autism, which raises awareness and support for individuals living with autism and their families.Speaking at the event, Chris Ofikulu, Executive Director, Retail and Commercial Banking at Polaris Bank, described the collaboration as a major milestone in the Bank’s commitment to promoting wellness and expanding the reach of its corporate social responsibility initiatives.“This partnership is a significant step in the evolution of LiveWell by Polaris and reflects our commitment to championing healthier lifestyles and meaningful social impact,” Ofikulu said.“By collaborating with Cyclotron Club and supporting their cause-based cycling campaigns, including Ride for Autism, we are extending our CSR footprint while encouraging Nigerians to embrace wellness as a critical foundation for success and quality of life.”He noted that the initiative aligns with Polaris Bank’s broader vision of creating value beyond banking and making a positive contribution to society.“Cycling is not only a globally recognised sport but also one of the most effective ways to stay physically fit. Through LiveWell by Polaris, we are investing in the health and wellbeing of our people and the communities we serve because we firmly believe that health is wealth,” he added.In her remarks, Eziafakaku Nwokolo, Captain of Cyclotron Club, commended Polaris Bank for its support and commitment to wellness-focused initiatives.“We are delighted to partner with Polaris Bank, an institution that clearly values wellbeing and social impact. This collaboration will empower us to expand our advocacy efforts and support our professional cyclists to compete at both local and international levels,” she disclosed.The event featured an exciting cycling skills demonstration by members of Cyclotron Club, showcasing the energy, discipline, and excellence that define the Club’s activities.Through LiveWell by Polaris, Polaris Bank continues to strengthen its role as a socially responsible organisation dedicated to promoting healthier communities, inspiring positive lifestyle choices, and delivering sustainable impact beyond banking.-END-

Fidelity Bank strengthened its liquidity position in the 2025 financial year as cash and cash equivalents rose by 87 percent to N1.32 trillion, reflecting improved cash buffers, stronger deposit mobilisation, and growth in interest-earning assets.

The lender’s audited financial statement for the year ended December 31, 2025, showed that cash and cash equivalents increased from N707.45 billion in 2024, underscoring the bank’s stronger liquidity profile amid Nigeria’s tight monetary environment.

Restricted balances with the Central Bank of Nigeria (CBN) also increased by 4.1 percent to N1.65 trillion in 2025 from N1.59 trillion in the previous year.

The improved liquidity position came as Fidelity Bank recorded strong growth in customer deposits, which rose by 16.1 percent to N6.89 trillion from N5.94 trillion, indicating sustained customer confidence and expansion in the bank’s funding base.

The bank’s total assets also expanded by 18.6 percent to N10.46 trillion from N8.82 trillion, driven by increases in investment securities, liquid assets, and other financial instruments.

Analysis of the bank’s earnings performance showed that gross earnings rose by 45.6 percent to N1.52 trillion from N1.04 trillion in 2024, supported by growth in interest income and foreign exchange-related gains. Interest and similar income increased by 38.7 percent to N1.11 trillion, while net interest income rose by 32 percent to N831.35 billion.

The bank also improved its credit risk position during the year as credit loss expense moderated significantly to N21.61 billion from N56.44 billion in the previous year. This contributed to a 41.2 percent increase in net interest income after credit losses to N809.74 billion.

Non-interest income performance remained strong, with fee and commission income rising by 44.7 percent to N113.36 billion. Foreign currency revaluation gains surged to N99.58 billion from N11.72 billion recorded in 2024.

The bank also expanded its investment portfolio during the year. Debt instruments measured at fair value through other comprehensive income (FVOCI) rose by 199 percent to N557.78 billion, while debt instruments at amortised cost increased by 27.2 percent to N1.97 trillion.

Fidelity Bank’s shareholders’ funds crossed the N1 trillion mark during the year as total equity increased by 21.1 percent to N1.09 trillion from N897.87 billion. Statutory reserves rose by 32.7 percent, while non-distributable regulatory reserves climbed by 92.5 percent.

Fidelity began the year with a share price of N19.00 and closed at N21.9 on Monday, gaining 15.3 percent year-to-date on the NGX.

The bank is currently the 25th most valuable stock on the NGX with a market capitalisation of N1.1 trillion, which is about 0.686 percent of the Nigerian Stock Exchange equity market.