Q3 2022: Zenith Bank Records N620 Billion Earnings

For the third quarter of 2022, Zenith Bank Plc has recorded a gross earning of N620.6 billion which indicates a 20 per cent increase, compared to N518.7 billion recorded in the third quarter of 2021.

The bank disclosed this in a statement on its unaudited results for the third quarter which ended on September 30, 2022, titled ‘Zenith Bank surmounts macroeconomic headwinds with double-digit growth in gross earnings in q3 2022’.

The statement noted that the performance demonstrated the Group’s resilience against a challenging macroeconomic environment.

According to the unaudited account presented to the Nigerian Exchange, the growth in the topline was driven by interest and non-interest income growth.

There was also a 27 per cent increase in Interest income which grew from N308.8 billion to N390.8 billion, driven majorly by growth in risk assets and an improvement in pricing. This also strengthened earnings per share by nine per cent to N5.55.

Profit before tax grew from N179.8 billion in Q3, 2021 to N202.5 billion in Q3, 2022.

Profit after tax equally grew by nine per cent from N160.6 billion to N174.3 billion in the same period.