Zenith Bank Plc has recorded profit after tax of N144.179 billion for the third quarter financial year ended September 30, 2018.
The result represents an increase of N14.944 billion or 11.56 per cent compared with N129.235 billion reported in the corresponding period of last year.
The bank’s nine months result submitted to Nigerian Stock Exchange showed that the profit before tax rose to N167.307 billion from N152.552 billion posted in the comparative period of last year.
The income tax paid by the bank declined from N23.317 billion to N23.128 billion.
An analysis of the bank’s result showed that gross earnings declined to N474.607 billion from N531.266 bilion reported the previous year.
Interest and similar income also declined to N339.003 billion from N361.789 billion while interest and similar expenses dropped from N160.297 billion to N110.546 billion bringing the net interest income to N228.517 billion from N201.492 billion recorded in the comparable period of 2017.
Fee and Commission income dropped from N71.021 billion to N69.967 billion at the end of September this year.
Total assets which stood at N5.595 trillion in the preceding period went down to N5.131 trillion within the period under review, while total liabilities fell to N4.364 trillion from N4.773 trillion in the comparative period of 2017.
