Zenith Bank Records N405 Billion Gross Earnings

In the first half of the 2021 financial period, Zenith Bank Plc grew its gross earnings by 17 per cent from N346 billion to N405 billion in the corresponding period of 2022.

This was revealed in the bank's audited result for the half-year ended June 30, 2022.

According to the result, the growth was moved by a 19 per cent YoY growth in interest income from N204 billion to N242 billion and an 18 per cent YoY growth in non-interest income from N127 billion to N149 billion

During the period under review, profit before tax grew 11 per cent year-on-year from N117 billion to N130 billion. Earnings per share also grew from N3.38 to N3.55 over the same six-month period.

The retail strategy of the Group continues to deliver outstanding results as retail deposits grew by 17 per cent YtD from N1.82 trillion to N2.13 trillion.

Retail activities also supported the growth recorded in fees on electronic products which grew by 45 per cent YoY from N17 billion to N25 billion.