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Zenith Bank records 19% increase of N73.8bn from fees and commissions in Q3 2019

Zenith Bank seeks N100bn new capital after N63.4bn dividend

Tier 1 lender, Zenith Bank has released its Q3 2019 Consolidated and Separate Interim Financial Statements for the 9 months period ended September 30, 2019.

This will make the bank the third of the tier 1 banks – also known as the FUGAZ – to release their results.

Gross earnings grew by 3.51% from N474.6 billion in 2018 to N491.3 billion in 2019.

The bank recorded a marginal increase of 5.31% profit before tax from N167.3 billion in 2018 to N176.2 billion in Q3 2019.

Profit after tax also witnessed a marginal growth of N150.7 billion when compared to N144.2 billion in Q3 2018. This represents a 4.54% increase.

Read also: UBA posts N81.6bn profit for Q3 2019

Zenith Bank made N73.8 billion from fees and commissions as against N62 billion in 2018, representing a 19.09% upward growth.

The lender also made N66.9 billion as trading income for the period, compared to N52.9 billion in the comparative period in 2018. This is an increase of 26.30%.

Earnings per share stood at N4.80 as against N4.58 in Q3 2018.

Zenith Bank is currently trading at N17.20 on the floor of the Nigerian Stock Exchange (NSE).

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