Zenith Bank plc records 17% profit growth for Q4 2016

Zenith Bank

Zenith Bank plc in its released financial result for the year ended 31st December,2016 recorded gross earning of NGN507.9 billion for fourth quarter 2016.

On a year on year, the company recorded NGN432.5 billion in the financial year 2015, which is a 17% rise on a year to year comparison.

The company recorded NGN129.6 billion as profit for the year in review in contrast to NGN105.6 billion recorded same period 2015.

Zenith Bank plc acquired total assets of NGN4.7 trillion for q4 2016 compared to NGN4.0 trillion acquired same period 2015. The company posted total liabilities of NGN4.0 trillion in 2016 compared to NGN3.4 trillion posted in 2015.

The company recorded operating expenses of NGN94.3 billion in 2016 compared to NGN89.9 billion recorded in 2015.

Corporate Information

Zenith Bank Plc was established in May 1990, and commenced operations in July of the same year as a commercial bank. The Bank became a public limited company on June 17, 2004 and was listed on the Nigerian Stock Exchange (NSE) on October 21, 2004 following a highly successful Initial Public Offering (IPO). Zenith Bank Plc currently has a shareholder base of about one million and is Nigeria’s biggest bank by tier-1 capital. In 2013, the Bank listed $850 million worth of its shares at $6.80 each on the London Stock Exchange (LSE).

Headquartered in Lagos, Nigeria, Zenith Bank Plc has over 500 branches and business offices in prime commercial centres in all states of the federation and the Federal Capital Territory (FCT). In March 2007, Zenith Bank was licensed by the Financial Services Authority (FSA) of the United Kingdom to establish Zenith Bank (UK) Limited as the United Kingdom subsidiary of Zenith Bank Plc.