Zenith Bank Plc has announced an impressive 52.58% growth in profit after tax (PAT) for the year 2024, reaching N1.032 trillion, up from N676.909 billion in 2023.
Key Highlights:
- Gross Earnings: 86% year-on-year growth to N3.97 trillion, driven by a 138% increase in interest income.
- Profit Before Tax (PBT): 67% growth to N1.3 trillion, driven by top-line expansion and efficient treasury portfolio management.
- Net Interest Income: 135% growth to N1.7 trillion, reinforcing the bank's strong core banking performance.
- Total Assets: 47% growth to N30 trillion, underpinned by a strong liquidity position and effective balance sheet management.
- Customer Deposits: 45% growth to N22 trillion, reflecting a strong corporate deposits portfolio and sustained increase in retail deposits.
Dividend Payout:
The bank has proposed a final dividend of N4.00 per share, bringing the total dividend for the year to N5.00 per ordinary share.
Awards and Recognition:
Zenith Bank has received numerous awards, including being recognized as the Number One Bank in Nigeria by Tier-1 Capital for the fifteenth consecutive year, and Best Bank in Nigeria for four times in five years in the Global Finance World's Best Banks Awards.
Zenith Bank Plc confirmed raising N350.bn from its recent combined public offer and rights issue thus exceeding the envisaged N290bn
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