Zenith Bank Plc, Nigeria’s tier 1 lender and one of the 5 biggest bank in Nigeria has released its Q4 2019 audited financial statement and report to the public.
The report published by The Nigerian Stock Exchange (NSE) today revealed an impressive growth in both the top and bottom liones of the bank. The bank’s profit growth was propelled by double digit growth in both the Net Fee and Commission Income and Net Trading Income.
Here are the highlight of the Zenith Bank Q4 2019 result
- Gross Earning increased by 5 percent from N630bn in Q4 2018 to N662bn in Q4 2019
- Net Interest Income down by 10 percent from N295.6bn to N267bn in Q4 2019
- Imparment Loss Charges up by 30 percent from N18.4bn to N24bn in Q4 2019
- Net Fee and Commission Income up by 22 percent to N100bn from N81.8bn in Q4 2018
- Net Trading Income up by 47 percent from N80.2bn to N117.8bn in Q4 2019
- Other Operating Income down by 21 percent from 17.9bn to N14.2bn in Q4 2019
- Personnel Expenses up by 13 percent from N68.6bn to N77.8bn in Q4 2019
- Operating Expenses down by 6 percent from N137.9bn to N129.5bn in Q4 2019
- Profit Before Tax (PBT) up by 5 percent from N231.7bn to N243.3bn in 2019
- Proft After Tax (PAT) up by 8 percent to N208.8bn from N193.4bn in Q4 2018
- Earning per share also grew by 8 percent to N6.65k from N6.15k in 2018 financial year.
Zenith Bank Balance Sheet also had an impressive growth in 2019 financial year as Asset grwe by 7 percent to N6.35 trillion. While Loands and Advances also grew by 27 percent from N1.82 trillion to N2.31 trillion in 2019
Deposit from Customer and Owners Equity also had their share of growth as both grew by margin of 15 percent to N4.26 trillion and N942 billion respectively.