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Zenith  Bank  9 month 2017 earnings jump 52.8% to N581 billion

Onome Ohwovoriole by Onome Ohwovoriole
October 19, 2017
in Business News, Company News
Jim Ovia

Jim Ovia, Chairman, Zenith Bank

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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 20169M 2017Percentage Change
Gross Earnings38058152.8%
Profit before tax11615231%
Profit after tax9512935%
Earnings per share (kobo)303411 35.6%

 

Key drivers behind the result

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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.

 


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Tags: Zenith Bank News
Onome Ohwovoriole

Onome Ohwovoriole

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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