Zenith Bank declares $284m profit for six months

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By Mbafan Ade (BUSINESS CORRESPONDENT) –

One of the leading financial institutions in Africa, Zenith Bank Plc, announced yesterday a profit before tax (PBT) of N117.05 billion (about $284.447million) for six months as of June 30, 2021.

This performance is 2.6% higher than the N114.12 billion (about $277.3million) posted in the comparative period of 2020. 

According to the company’s interim report posted on the website of the Nigerian Exchange (NGX) Ltd in Lagos yesterday, gross earnings of the Group stood at N345.55 billion for the period under review, as against N346.08 billion reported in the comparative period of 2020.

The interim report, signed by the Company Secretary, Mr Micheal Otu,  also showed that profit after tax (PAT) grew from N106.11 billion recorded as of June 30, whereas N103.82 billion was posted in the corresponding period of 2020. 

It further showed company’s income tax expense of N10.94 billion for the period under review, against N10.29 billion recorded in 2020. 

Also, basic, and diluted earnings per share of the bank stand at N3.38 in the period under review, while N3.30 was recorded in the same period of 2020. 

According to the result, the Board of Directors proposed an interim dividend of 30 kobo per share, the same as the 2020. 

It explained that the decision would be presented for ratification by the shareholders at the next Annual General Meeting.

(With a NAN report) 

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