Zenith Bank Reports N167 Billion Profit in Nine Months

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  • Zenith Bank Reports N167 Billion Profit in Nine Months

Zenith Bank Plc on Thursday reported its financial results for the nine months ended September 30, 2018.

The bank recorded gross earnings of N474.697 billion in 2018, below the N531.2 billion posted in the same period of 2017.

Net interest income climbed 13 percent to N228.517 billion, while fee and commission income drop slightly to N69.967 billion from the N71.021 billion filed in 2017.

Profit before tax stood at N167.307 billion in the nine months ended September 30, 2018, a 10 percent increase from N152.552 billion posted in 2017.

Profit after tax rose 12 percent to N144.179 billion, up from N129.28 billion recorded in the same period of 2017. Deposits climbed from N3.062 trillion to N3.276 trillion, while loans and advances reduced from N2.156 trillion to N1.824 trillion.

Total assets now stood at N5.618 trillion, up from N5.132 trillion in 2017.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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