Nigerian bank Zenith Bank reports a 189% increase in Q1 earnings, with PBT up 270% and PAT up 291%.
Nigerian bank Zenith Bank reported a 189% increase in Q1 earnings, with gross earnings rising to N781bn from N270bn in Q1 2023. Profit before tax (PBT) grew by 270% to N320bn, while profit after tax (PAT) increased by 291% to N258bn. The bank achieved these results despite a 48% growth in the cost of funds. It also recorded an impairment charge of N56bn, mainly due to USD loan revaluation.
May 06, 2024
3 Articles