Zenith Bank Plc yesterday released its 2020 full year audited financials posting a 10.4 per cent increase in its profit after tax as it declared a dividend payout of N2.70 for every 50k share bringing the 2020 total dividend to N3 per share.
Zenith Bank had recorded a 276 per cent in increase in foreign currency revaluation gain which rose from N11.54 billion in 2019 to N43.44 billion in 2020, just as gains from trading activities in treasury bills and bonds rose to N121.68 billion at the end of the 2020 financial year from N117.79 billion in 2019.
Its interest income had however declined by 18.4 per cent to N121.13 billion from N148.53 billion recorded in 2019, as impairment loss on financial and non-financial instruments rose to N39.53 billion in 2020 from N24.03 billion. This saw its profit before tax rise to N255.86 billion compared to N243.29 billion it made in the comparable period of 2019.