Zenith Bank’s H1 gross earnings rise to N405bn

  • 📰 MobilePunch
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 63%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Zenith Bank Plc grew its gross earnings by 17 per cent from N346bn in the first half of 2021 financial period to N405bn in the corresponding period of 2022.

Retail activities also supported the growth recorded in fees on electronic products which grew by 45 per cent YoY from N17bn to N25bn.

Despite the elevated yield environment, the cost of funds increased only marginally from 1.3 per cent in June 2021 to 1.4 per cent in June 2022. The increase in the cost of funds was lower than the increase in yields on interest-generating assets, giving rise to an improved Net Interest Margin of 7.1 per cent from 6.4 per cent in June 2021.Despite the headwinds imposed by the operating environment, the Group grew its risk assets as gross loans grew by five per cent YtD, from N3.5tn to N3.7tn. This was achieved at a moderate NPL ratio of 4.4 per cent and cost of risk of 1.4 per cent .

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Frauds

Ur illegal deduction from peoples account contributed to this..

Worse bank of the year, stealing from its customers.

Na the 41 wey una comot for my money yesterday make am complete, nice one!!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines