The Nation Newspaper Zenith Bank’s grossed N781b in first quarter
The impressive triple-digit growth performance shot the bank’s earnings to N781 billion as against the N270 it reported in the first quarter of last year.
The bank’s Profit Before Tax rose to N320 billion, representing an increase of 270 per cent from the N87 billion reported in first quarter of 2023. Interest income grew by 155 per cent from the N192 billion reported in the quarter ended March 2023 to N489 billion in the period to 31 March 2024.The growth in interest income is due to the repricing of risk assets, owing to the increase in the central bank’s Monetary Policy Rate , which currently stands at 24.75 per cent. The growth in net interest income is primarily due to the increase in fees and commissions as well as trading grains.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Zenith Bank’s fintech subsidiary Zenpay partners AfCFTA on innovative trade portalThe agreement which was signed by the Chairman of Zenpay Limited, Ebenezer Onyeagwu and the Secretary-General of AfCFTA, Wamkele Mene comes as a follow up to the Memorandum of Understanding (MoU) which was previously signed by both parties.
Read more »
Zenith HoldCo secures shareholders’ approvalShareholders of Zenith Bank Plc unanimously approved the restructuring of the Bank to a holding company during a court-ordered
Read more »
Zenith Bank shareholders approve HoldCo structureIn his remarks during the EGM, the Founder and Chairman of Zenith Bank Plc, Jim Ovia, thanked the shareholders for their unwavering commitment, which has been instrumental in the Bank’s outstanding performance over the years
Read more »
Shareholders okay Zenith Bank HoldCo structure transitionThe Nation Newspaper Shareholders okay Zenith Bank HoldCo structure transition
Read more »
Student Loan: Tinubu appoints Zenith Bank founder, Jim Ovia as board chairmanA Trusted Nigerian Newspaper
Read more »
Zenith Bank founder, Jim Ovia chairs board of Nigerian Education Loan FundThe National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill...
Read more »