Zenith Bank earnings up 14.5% in Q1 2018, reports N54bn profit

Zenith Bank Plc. has reported a 14.5 percent growth in earnings for the quarter ending March 31, 2018 with a gross earnings of N169.2 billion from N147.7 billion in the corresponding period of 2017.

The results released to the Nigerian Stock Exchange Thursday, April 19, 2018, indicates that the bank’s profit before tax improved 22 percent in the reporting period to N54 billion from N44 billion in 2017.

Marked improvements were also seen in all the reporting lines as profit after tax jumped 25.5 percent to N47.1 billion from N37 billion in 2017.

Net assets also increased to N35.24 billion from N687.86 billion in 2017, representing a 6.9% growth. The company paid about N6.9 billion in taxes up from 6.7 billion in the corresponding period of 2017.