Zenith Bank Plc, has announced gross earnings of N745.19 billion for the financial year ended Dec. 31, 2017.
The figure represented a growth of 46.69 per cent over N507.99 billion posted in 2016.
This is contained in the bank’s audited result released by the Nigerian Stock Exchange ( NSE ) in Lagos on Monday.
Zenith also announced a final dividend of N2.45 per share, amounting to N21.08 billion for the financial year ended Dec 31, 2017.The dividend, to be ratified by the bank’s shareholders at the next Annual General Meeting (AGM). Would bring the total dividend for the year to N2.70 against N1.70 paid in 2016.
Profit before tax stood at N203.41 billion in contrast to the N156.75 billion posted in 2016, an increase of 29.8 per cent.Its income tax expenses dropped to N25.53 billion from N27.09 billion on a net profit of N177.93 billion against N129.65 billion in 2016, representing an increase of N48.281 billion or 37.23 per cent.
The bank’s impairment loss on financial assets rose three-fold to N98.23 billon from N32.35 billion in 2016.
Fee and commission income rose to N90.143 billion from N68.44 billion in 2016.
Other operating income dropped slightly to N22.44 billion from N26.59 billion, depreciation of property and equipment increased to N12.43 billion from N9.68 billion in 2016. Amortisation of intangible assets stood at N1.63 billion from N1.44 billion, while personnel expenses rose to N64.46 billion from N59.33 billion, just as operating expenses climbed to N148.35 billion from N104.08 billion.
VAT HIKE WILL IMPOVERISH NIGERIANS – TAKE IT BACK MOVEMENT SPEAKS OUT AGAINST FG’S DECISION TO PUNISH NIGERIANS WITH POVERTY
Ubi Franklin’s Shocker : I Have Photos Of All The Married Women Iyanya Slept With
GTBank Builds Nigeria’s First Digital Play Centre for Children
CBN Applauds Ecobank’s Sustainability Efforts
Odumakin Bombs Opadokun
Cover Of The Week
- Mozambique: “Tens of thousands of families have lost everything” March 22, 2019
- International Organization for Migration (IOM) responds to devastating Cyclone Idai with shelter materials and more March 22, 2019
- Humanitarian Border Management Between Burundi, Tanzania Bolstered by Technology March 22, 2019
- African Policymakers Highlight Opportunities of National Climate Plans March 22, 2019
- Access to safe water for all is key to sustainable development March 22, 2019
- UK aid Cyclone Idai response - additional flight to leave for Mozambique March 22, 2019
- Private Sector Joins IOM to Enhance Skills of Gambian Returnees March 22, 2019
- Policy, Trade and the Private Sector in the Digital Era to dominate debate as Conference of African Ministers kicks off in Marrakesh March 22, 2019
- Marriott Hotels brings TED Fellows Salon to the mother city inspiring “Vibrant Innovation” March 22, 2019
- Merck Foundation meets the President and the First Lady of Burundi to launch their programs in the country March 22, 2019
Uncategorized1 month ago
“We are not postponing elections” – INEC
celebrity radar - gossips2 weeks ago
Sir Adebutu Kensington distances self from son’s APM move
celebrity radar - gossips1 month ago
2019 Election: The Nigerian election may likely be postponed because of many challenges. In whatever way, God is in Control “- T B Joshua Reveals
Uncategorized3 weeks ago
‘I haven’t decamped to APC’ – Titi Oseni debunks rumours