Zenith Bank in its half year 2017 financials had gross earnings grow by 77% to N380bn, interest income rose by 45% to N262bn , while interest expense spiked by 127% to N123bn translating to a 9% rise in net interest income. The group recovered from a trading loss and grew operating expense by 34% to N116bn. Loan loss expense rose by 198% to N42bn this notwithstanding, pre-tax profit increased by 71% to N92bn, while after-tax profit surged by 112% to N75bn.
Total assets grew by a meager 4% to N4.9trn, while loan to deposit ratio slipped by 3 percentage points to 74% from 77% the prior period. Total liabilities also grew by 4% translating to a 2% rise in net assets to N719mn. The group announced an interim dividend of N0.25k for the period. See details below.
| Income Statement | H1 2017 | H1 2016 | % Change |
| Gross Earnings (mn) | 380,440 | 214,812 | 77% |
| Interest Income (mn) | 262,257 | 181,408 | 45% |
| Interest Expense (mn) | 123,295 | 54,385 | 127% |
| Net Interest Income (mn) | 138,962 | 127,023 | 9% |
| Trading Income (mn) | 65,318 | (864) | 7660% |
| Operating Expense (mn) | 116,278 | 87,070 | 34% |
| Loan Loss Expense (mn) | 42,398 | 14,232 | 198% |
| PBT (mn) | 92,183 | 53,905 | 71% |
| TAX Expense/Credit (mn) | 16,866 | 18,438 | -9% |
| PAT (mn) | 75,317 | 35,467 | 112% |
| Balance Sheet | H1 2017 | FY 2016 | % Change |
| Fixed Assets (mn) | 110,061 | 105,284 | 5% |
| Total Assets (mn) | 4,927,367 | 4,739,825 | 4% |
| Loans & Adv (mn) | 2,187,352 | 2,289,365 | -4% |
| Deposits(mn) | 2,974,938 | 2,983,621 | -0.3% |
| Financial Liabilities (mn) | 647,062 | 416,570 | 55% |
| Total Liabilities (mn) | 4,208,034 | 4,035,360 | 4% |
| Net Assets (mn) | 719,333 | 704,465 | 2% |
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