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by on February 26, 2020
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With a profit after tax (PAT) of N209 billion in its recently released financial results for the year ended December 31, 2019, up from the N193 billion recorded the previous year, Zenith Bank has become the first Nigerian Bank to cross the N200 billion mark.

AriseTV Analyst, Mr. Chika Mbonu, stressed this while analysing the company’s performance on the ‘Global Business Report,’ yesterday.

Mbonu, who is a former bank chief executive and presently Managing Director, KSBC Advisory Partners Limited, added: “It is impressive. The bank’s gross earnings came in at N662 billion with a growth of about five per cent over the previous year, which was driven principally by the growth in their net interest income by about 29 per cent.

“If you look at the report, you will find that the net interest income fell by 10 per cent and not surprisingly because of the challenges they faced last year in repricing the assets.” He added: “The major growth you would find is in the non-interest line which grew by 29 per cent, which was driven by the more than 100 per cent growth in electronic banking fees….” For full quote (https://www.thisdaylive.com/index.php/2020/02/25/zenith-becomes-first-nigerian-bank-to-post-n209bn-pat/)

 

 

 

 

 

 

 

 

 

 

Source: https://www.thisdaylive.com/

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