23 October 2019: Zenith Bank Plc recently announced its staggering unaudited results for the period ended 30 September 2019, re-affirming its market supremacy.

Their gross earnings went up by 4% from N474,607 billion recorded in Q3 2018 to N491,268 billion in Q3 2019, while its Profit Before Tax (PBT) soared by 5% from N167,307 billion in Q3 2018 to a massive N176,183 billion in Q3 2019, while their profit after tax jumped by 5% from N144,179 billion in Q3 2018 to N150,723 billion in Q3 2019.

Despite all the economic hurdles they have been facing this past quarter, the group has shown a stellar performance with their Non interest income astronomically jumping by 22% in the current period.

They managed to reduce their cost-to-income ratio successfully by 1.1% in comparison to Q3’2019. Additionally, their Earnings Per Share (EPS) also increased by 5% with respect to Q3’2018

Their customer deposits also experienced a 7% increase from N3.69 billion recorded in Dec’18 to N 3.95 trillion, which directly impacted their improvement in cost of funds from 3.3% in Q3 2018 to 2.95% as at Q3 2019.

Across both retail and corporate segments, their gross loans and advances have grown by 9% from N2.02 trillion as at December 2018 to N2.2 trillion as at Q3 2019. 

They also successfully managed to decline their non-performing loan (NPL) ratio declined from 4.98% in December 2018 to 4.95% in the current period

ZenithBank was also recently presented with the award of Bank of the Year and the Best Bank in Retail Banking at the 2019 BusinessDay Banks’ and Other Financial Institutions Awards (BAFI Awards).

Reporting for EasyKobo on Wednesday , 23 October 2019 in Lagos, Nigeria