Zenith Bank Plc has published its interim consolidated and separate financial statements for the six-month period ended June 30, 2025, showing resilience despite higher impairment charges and a decline in profitability compared to the same period last year.
Profit and Loss Performance
The Group reported profit after tax (PAT) of ₦532.18 billion, down from ₦577.99 billion in H1 2024. Profit attributable to equity holders stood at ₦531.83 billion, while non-controlling interest accounted for ₦347 million.
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Interest income rose significantly to ₦1.84 trillion from ₦1.15 trillion in 2024.
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Interest expense increased to ₦484.53 billion against ₦434.36 billion in the prior year.
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Net interest income improved to ₦1.35 trillion, compared with ₦715.07 billion in H1 2024.
However, impairment charges on financial and non-financial instruments surged to ₦760.81 billion, up from ₦415.29 billion, leaving net interest income after impairment at ₦593.91 billion (H1 2024: ₦299.78 billion).
Other highlights:
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Net fees and commission income: ₦128.06 billion (H1 2024: ₦109.62 billion).
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Trading gains: ₦467.79 billion, lower than ₦795.57 billion in the prior year.
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Other operating income: ₦17.29 billion, recovering from a ₦5.86 billion loss in H1 2024.
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Operating expenses climbed to ₦411.29 billion, from ₦333.23 billion last year.
Profit before tax stood at ₦625.63 billion, down from ₦727.03 billion, while income tax expense moderated to ₦93.45 billion (H1 2024: ₦149.03 billion).
Earnings per share dropped to ₦12.95, compared with ₦18.41 in the same period of 2024.
Comprehensive Income
Zenith Bank reported total comprehensive income of ₦703.74 billion for the period, a decline from ₦980.47 billion in H1 2024. Items that boosted comprehensive income include:
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Fair value movements on equity instruments at FVOCI: ₦29.49 billion (H1 2024: ₦136.20 billion).
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Impact of adopting IAS 29: ₦141.40 billion.
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Foreign currency translation differences recorded a loss of ₦2.54 billion, compared to a gain of ₦198.03 billion in 2024.
Financial Position
As of June 30, 2025, the Group’s total assets stood at ₦30.99 trillion, compared to ₦29.96 trillion as at December 31, 2024.
Key asset movements:
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Cash and balances with CBN: ₦6.66 trillion (Dec 2024: ₦5.89 trillion).
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Treasury bills: ₦4.94 trillion (Dec 2024: ₦2.68 trillion).
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Loans and advances: ₦9.60 trillion, slightly down from ₦9.97 trillion in Dec 2024.
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Investment securities: ₦5.28 trillion (Dec 2024: ₦5.10 trillion).
On the liabilities side, customers’ deposits grew to ₦23.48 trillion from ₦21.96 trillion at year-end 2024. Borrowings declined sharply to ₦1.04 trillion, from ₦2.05 trillion at the end of 2024, reflecting deleveraging efforts.
Total liabilities closed at ₦26.42 trillion, while total shareholders’ equity improved to ₦4.57 trillion, up from ₦4.03 trillion in December 2024.
Bank-Only Position
For the standalone bank, total assets amounted to ₦23.85 trillion, compared to ₦24.04 trillion in December 2024. Profit after tax stood at ₦426.71 billion, down from ₦522.96 billion a year earlier.
Zenith Bank Plc remains one of Nigeria’s strongest financial institutions, with rising assets, robust deposit growth, and sustained profitability despite economic headwinds and elevated impairment charges.
The bank’s shareholders’ equity rose by 13% within six months, underscoring resilience in capital and reserves.
