by NIyi JACOBS
Fidelity Bank Plc’s recent stock rally has done little to erase mounting concerns over its delayed earnings report and unresolved legal liabilities.
The lender’s shares jumped 14% in just two days, hitting ₦21 — its highest level in a year — and pushing its market capitalization above ₦1 trillion. But analysts warn the rise may be fueled more by speculative trading than by solid fundamentals.
Fidelity has not released its half-year financial results, a red flag for investors who rely on transparency to gauge performance. Adding to the unease is a significant judgment debt hanging over the bank, which could weigh heavily on its future earnings and threaten its financial stability.
While Fidelity dominated trading activity this week — accounting for more than half of both total volume and value on the Nigerian Exchange — skeptics argue that market hype cannot conceal the pressing issues. Unless management provides clarity on its debt exposure and financial statements, the current rally risks collapsing under the weight of uncertainty.
