BREAKING: Zenith Bank reports N130.01bn in PBT, proposes N0.30 interim dividend

Zenith Bank Plc on Tuesday announced N130.01billion profit before tax in its half year (H1) ended June 30, 2022 audited result and accounts, an increase of 11.06 per cent from N117.06billion reported in corresponding half year ended June 30, 2021.

The lender on the Nigerian Exchange Limited (NGX) also reported N111.41billion profit after tax in H1 2022 from N106.11 reported in H1 2022 on the backdrop of N18.59billion income tax expense in the period under review as against N10.94billion reported in prior period.

The Tier-1 bank proposed an interim dividend of N0.30 per share (2021: Interim dividend of N0.30 per share) from the retained earnings account as at 30 June, 2022.

Key drivers in Zenith Bank growth in profits include 17 per cent increase in gross earnings to N404.76billion in H1 20222 from N345.56billion in H1 2021, while net interest income rose by 116 per cent to N184.7billion in H1 2022 from N159.94billion reported in H1 2021.

Meanwhile, Zenith Bank’s total assets crosses the N10trillion mark as of June 30, 2022 as the bank grew loans & advances and customers’ deposits.

Total assets grew by7.07 per cent to N10.11trillion as of June 30, 2022 from N9.45trillion reported in full year ended December 31, 2022.

The group’s loans & advances rose by 4.3 per cent to N3.5trillion as of June 30, 2022 from N3.36trillion reported in 202! FY, while customers’ deposits grew significantly by 11 per cent to N7.15trillion as of June 30, 2022 from N6.47trillion reported in 2021 FY.

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