Zenith Bank reports 7.9% profit increase for full-year 2019

Zenith Bank Plc has released its audited full-year financial statement for the period ended December 2019. Across board, the result showed fairly positive improvements, including the profit for the period. which increased by 7.9% year on year. See the summary below.

Gross revenue and net interest income: The bank’s gross revenue grew by 5.06% to N662.3 billion in FY 2019, up from N630.3 billion during the comparable period in 2018. However, net interest income decreased by 9.7% to N267 billion, down from N295.6 billion that was recorded during the preceding year.

Profit before tax: Zenith Bank’s BBT for the period under review stood at N243.3 billion, indicating a 5.0% increase when compared to N231.7 billion that was recorded in FY 2018.

Profit after tax: Profit for the year increased by 7.9% to N208.8 billion, up from N193.4 billion in 2018.

Also, note that Zenith Bank’s earnings per share (both basic and diluted) also increased from N6.15 in 2018 to N6.65 in 2019.

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