Zenith Bank grows profit by 5.7% to N159.315b in nine months



Zenith Bank Plc, one of Nigeria’s leading banks on Friday released its consolidated and separate interim financial statements for the period ended September 30, 2020 with 5.7% growth in profit after tax to N159.315 billion in nine months from N150.723 billion in same period in 2019.

The profit for the third quarter 2020 (Q3) was put at N55.489 billion.

Gross earnings in Q3 stood at N162.887 billion and rose to N508.975 billion in nine months compared with N491.268 billion in 2019.

Similarly, net interest income stood at N67.770 billion in Q3 and rose to N225.179 billion in nine months 2020 from N214.627 billion in 2019.

Impairment charge in Q3 was low at N1.185 billion compared with N25.108 billion in nine months from N18.259 billion in 2019.

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