Zenith Bank Sustains Growth Trajectory With 17% Growth Gross Earnings

The Bank’s audited results half year results released on the Nigerian Exchange Limited yesterday revealed that gross earnings increased from N346 billion reported in H1, 2021 to N405 billion in H1, 2022, in spite of a very challenging macroeconomic environment.

According to the results, this growth was underpinned by a 19 per cent year-on-year growth in interest income from N204 billion to N242 billion and an 18 per cent YoY growth in non-interest income from N127 billion to N149 billion. The growth in interest income was driven by the modest increase in the loan book and improved interest margins. The increase in non-interest income attests to the Group’s success in its income diversification strategy.

The Group also recorded an 11 per cent year-to-date increase in total customer deposits to close the period at N7.15 trillion. The retail strategy of the Group continues to deliver outstanding results as retail deposits grew by 17 per cent YtD from N1.82 trillion to N2.13 trillion. Retail activities also supported the growth recorded in fees on electronic products which grew by 45 per cent YoY from N17 billion to N25 billion.

Total assets rose to N10.12 trillion at the end of June 2022 from N9.45 trillion at the end of December 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 N3.5 trillion to N3.7 trillion.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Zenith Bank’s H1 gross earnings rise to N405bnZenith 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. Na the 41 wey una comot for my money yesterday make am complete, nice one!! Worse bank of the year, stealing from its customers. Ur illegal deduction from peoples account contributed to this..
Source: MobilePunch - 🏆 8. / 63 Read more »

SPONSORED: Zenith Bank Sustains Growth Trajectory With Double-digit Growth In Gross Earnings In H1 2022 | Sahara ReportersIn a clear demonstration of its industry leadership and consistency in providing superior financial returns, Zenith Bank Plc has announced its audited results for the half-year ended 30 June 2022, recording an astounding double-digit growth of 17% in gross earnings from N346 billion reported in H1 2021 to N405 billion in H1 2022. This is in spite of a very challenging macroeconomic environment. Sowore is coming to repair everything Buhari has destroyed in our education. SoworeManifesto SoworeManifesto SoworeManifesto The best bank. w We are the Zenith, we look down below to bring people up to the Zenith. ZenithBank And past rubbish salary!
Source: SaharaReporters - 🏆 9. / 63 Read more »