Zenith Bank Plc has released its audited full-year financial statement for the period ended December 2019. Across board, the result showed fairly positive improvements, including the profit for the period which increased by 7.9% year on year. See the summary below.
Gross revenue and net interest income: The bank’s gross revenue grew by 5.06% to N662.3 billion in FY 2019, up from N630.3 billion during the comparable period in 2018. However, net interest income decreased by 9.7% to N267 billion, down from N295.6 billion that was recorded during the preceding year.
Profit before tax: Zenith Bank’s BBT for the period under review stood at N243.3 billion, indicating a 5.0% increase when compared to N231.7 billion that was recorded in FY 2018.
Profit after tax: Profit for the year increased by 7.9% to N208.8 billion, up from N193.4 billion in 2018.
[READ MORE: FBN Holdings reports 3.8% profit increase in unaudited FY 2019 result)
Also, note that Zenith Bank’s earnings per share (both basic and diluted) also increased from N6.15 in 2018 to N6.65 in 2019.
You may download the full report by clicking here.
