Zenith Bank today released its financial statements for the 9 months ended September 2017. Gross Earnings increased from N380 billion in 2016 to N581 billion in 2017. Profit before tax increased from N116 billion in 2016 to N152 billion in 2017. Profit after tax also increased massively from N95 billion in 2016 to N129 billion in 2017.
|9M 2016||9M 2017||Percentage Change|
|Profit before tax||116||152||31%|
|Profit after tax||95||129||35%|
|Earnings per share (kobo)||303||411||35.6%|
Key drivers behind the result
Earnings from fees and commission, trading, and segments moved up massively. Earnings from fees and commission jumped massively fom N46 billion in 2016 to N71 billion in 2017. Trading income jumped from N16.4 billion in 2016 to N81 billion in 2017.
The massive rise in trading income was majorly due to income from treasury bills trading which jumped massively by 961% from N4.9 billion in 2016 to N52 billion in 2017. Foreign exchange trading income also increased sharply by N150% from N11.2 billion in 2016 to N28 billion in 2017.
Zenith bank shares are currently trading at N26.26 in today’s trading session on the Nigerian Stock Exchange (NSE), down 0.05%.
Here is a copy of the results.