Zenith Bank Announces N110.59 Billion Profit


Zenith Bank announced, audited result released by the Nigerian Stock Exchange (NSE) in Lagos on Tuesday,  that its 2013 pretax profit rose to N110.59 billion ($673 million), up 8.3 percent from the same period a year earlier, and it will pay a dividend of N1.75 per share.

The bank posted a profit after tax of N95.32 billion,  a marginal decrease of 5.32 per cent when compared withthe N100.68 billion posted in 2012.

The bank’s gross earnings stood at N351.47 billion against N307.08 billion achieved in 2012, representing a growth of 14.46 per cent.

It also proposed a dividend of N54.94 billion in contrast to N50.23 billion declared in the corresponding period in 2012.

The dividend translated to N1.75 per share compared with N1.60 declared in 2012.

Payment of the proposed dividend, if approved by the shareholders on April 2, would be paid on April 4.

The bank is the first bank to declare its 2013 audited result on the NSE.



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