• Gross Profit: N2.8 trillion, +118.16% YoY  
  • Net Interest Income: N1.2 trillion, +208.43% YoY  
  • Net Fee and Commission Income: N174.2 billion, +119.64% YoY  
  • Trading Income: N686.3 billion, +438.83% YoY  
  • Personnel Expenses: N150.6 billion, +70.40% YoY  
  • Pre-tax Profit: N1 trillion, +98.57% YoY  
  • Equity Fair Value Gain: N153 billion, +107.30% YoY  
  • Total Assets: N30.38 trillion, +67.30% YoY  
  • Cash and Cash Equivalents: N2.8 trillion, +5.06% YoY  

Zenith Bank Plc has reported a pre-tax profit of N1 trillion for the nine-month period ending September 30, 2024, which includes N275.8 billion generated in the third quarter. This represents a remarkable year-over-year increase of 98.57%, compared to N505 billion for the same period in 2023.

The bank's net interest income experienced substantial growth, soaring by 208.43% from N415.2 billion last year to an impressive N1.2 trillion. Additionally, gains from equity instruments at fair value rose significantly, increasing by 107.30% year-over-year from N73.8 billion to N153.1 billion.

For the nine-month period, Zenith Bank Plc's gross profit reached N2.8 trillion, reflecting a 118.16% increase from N1.3 trillion in the previous year, while net interest income surged by 208.43%. The bank's net fees and commissions rose by 119.64% year-over-year to N174.2 billion, and trading income saw a remarkable increase of 438.83%.

Although personnel expenses increased by 70.40% year-over-year, the bank's overall profitability remained robust, achieving a pre-tax profit of N1 trillion, with N275.8 billion generated in Q3 2024 alone. Post-tax profit also saw a significant rise of 90.54% year-over-year, reaching N827.2 billion, up from N424.1 billion, while gains on equity at fair value further bolstered the bank's income, climbing 107.30% to N153 billion.

As of September 30, 2024, Zenith Bank Plc reported total assets of N30.3 trillion, primarily bolstered by N9.4 trillion in loans and advances extended to customers. In contrast, total liabilities increased to N28.8 trillion, a significant rise from N16.2 trillion reported during the same period the previous year.

Zenith Bank Plc exhibited a robust cash flow situation, with operating cash flows reaching N685.66 billion for the period. Investment activities led to a net cash outflow of N971.64 billion, mainly due to substantial investments in treasury bills and real estate. 

Additionally, financing activities resulted in a net cash outflow of N102.26 billion, primarily attributed to repayments of long-term borrowings and dividend distributions. Despite these cash outflows, the bank concluded the period with a solid cash reserve of N2.84 trillion, indicating a stable liquidity position for the nine-month timeframe.