Zenith Bank Plc has released its unaudited group financial results for Q1 ended March 31, 2026, reporting pre-tax profit of N360.9 billion driven largely by strong interest income and lower interest expenses.
According to the Q1 2026 financial statement filed with Nigerian Exchange (NGX), the Group’s profit before tax rose by 2.87% year-on-year to N360.92 billion, compared to N350.82 billion recorded in Q1 2025.
Profit after tax also increased modestly by 0.69% to N314.02 billion, reflecting stable earnings despite rising loan impairments and cost pressures.
Key highlights (Q1 2026 vs Q1 2025):
- Revenue: N1.01 trillion; +6.14% YoY
- Interest income: N869.10 billion; +3.76% YoY
- Interest expenses: N235.02 billion; -4.64% YoY
- Net interest income: N634.08 billion; +7.24% YoY
- Net fee and commission income: N81.05 billion; +44.53% YoY
- Loan impairments: N57.57 billion; +16.53% YoY
- Net interest income after impairment: N576.51 billion; +6.42% YoY
- Pre-tax profit: N360.92 billion; +2.87% YoY
- Post-tax profit: N314.02 billion; +0.69% YoY
- Earnings per share: N7.64; +0.66% YoY
- Total assets: N32.01 trillion; -1.24% YoY
- Loans and advances: N11.38 trillion; +13.25% YoY
- Customer deposits: N24.47 trillion; +7.87% YoY
- Shareholders’ funds: N5.17 trillion; +16.32% YoY
Driving the numbers
Zenith Bank’s performance was driven by a combination of improved interest income, strong growth in non-interest revenue, and reduced funding costs.
- Interest income rose modestly to N869.10 billion, supported by earnings from loans and investment securities.
- However, a notable decline in interest expenses by 4.64% to N235.02 billion helped boost net interest income, which grew by 7.24% to N634.08 billion.
- Non-interest income emerged as a key driver during the period, with net fee and commission income surging by 44.53% to N81.05 billion, reflecting increased transaction volumes and improved digital banking activity.
- Despite these gains, loan impairments increased by 16.53% to N57.57 billion, indicating a higher cost of risk environment. This moderated the growth in net interest income after impairment, which rose by 6.42% to N576.51 billion.
At the bottom line, pre-tax profit rose by 2.87%, while post-tax profit recorded only marginal growth, suggesting that rising costs and impairment charges weighed on earnings expansion.
Balance sheet position
The Group’s total assets stood at N32.01 trillion, reflecting a slight decline of 1.24% year-on-year, largely due to a reduction in certain asset classes.
- Total liabilities declined by 4.04% to N26.85 trillion, driven mainly by a reduction in borrowings, indicating improved funding structure.
- Loans and advances to customers increased by 13.25% to N11.38 trillion, highlighting continued growth in lending activities.
- Customer deposits rose by 7.87% to N24.47 trillion, reinforcing the bank’s strong liquidity position and sustained customer confidence.
Shareholders’ equity increased significantly by 16.32% to N5.17 trillion, reflecting strong internal capital generation and improved retained earnings.
Market performance
The stock has seen an unbroken rally since April 14, hitting a high of N135.90 on April 24 before the price was adjusted for N8.75 per share final dividend.
- The price was adjusted to about N121.85 on April 27 before closing at N125.45 per share on Thursday.
- Zenith Bank closed its last trading day Thursday, April 30, 2026 at N128.50 per share on the NGX, recording a 2.4% gain over its previous closing price of N125.45.
- Zenith began the year with a share price of N61.80 and has since gained 108% on that price valuation, ranking it 20th on the NGX in terms of year-to-date performance.
Zenith Bank Plc is currently the ninth most valuable stock on the NGX with a market capitalization of N5.28 trillion, which makes about 3.39% of the equity market value.
What you should know
In its audited financial results for the year ended December 31, 2025, Zenith Bank posted a pre-tax profit of N1.26 trillion, a 4.78% decline compared to the previous year.
- Despite the slight dip in the top-line growth, interest income rose sharply to N3.6 trillion from N2.7 trillion recorded in the 2024 financial year.
- Loans and advances to customers contributed the most at N1.8 trillion, up 20.15%, while treasury bills generated N1.1 trillion in income.
- After income tax of N222.8 billion, post-tax profit settled at N1.04 trillion, with earnings per share falling to N25.32 from N32.87.
Consequently, the group declared a final dividend of N8.75 per share, up from N4.00, bringing the total FY2025 dividend to N10.00 per share, including the N1.25 interim payout.
