Zenith Bank Income Statement

Financials in millions NGN. Fiscal year is January - December.

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Interest Income on Loans	3,515,217	2,721,377	1,144,674	540,166	427,597	420,813
Interest Paid on Deposits	1,140,265	992,474	408,492	173,539	106,793	121,131
Net Interest Income	2,374,952	1,728,903	736,182	366,627	320,804	299,682
Net Interest Income Growth (YoY)	48.28%	134.85%	100.80%	14.28%	7.05%	12.23%
Income From Trading Activities	691,315	1,100,002	566,973	212,678	167,483	121,678
Gain (Loss) on Sale of Assets	-991	-995	189	2,563	78	347
Gain (Loss) on Sale of Investments	-	-	-	-	251	891
Other Non-Interest Income	101,090	34,881	364,931	165,726	141,223	128,829
Total Non-Interest Income	791,414	1,133,888	932,093	380,967	309,035	251,745
Non-Interest Income Growth (YoY)	-34.45%	21.65%	144.66%	23.28%	22.76%	8.46%
Revenues Before Loan Losses	3,166,366	2,862,791	1,668,275	747,594	629,839	551,427
Provision for Loan Losses	962,564	658,805	409,616	123,252	59,932	39,534
Revenue	2,203,802	2,203,986	1,258,659	624,342	569,907	511,893
Revenue Growth (YoY)	3.39%	75.11%	101.60%	9.55%	11.33%	7.74%
Salaries and Employee Benefits	235,579	204,170	124,415	86,412	79,885	79,520
Occupancy Expenses	52,091	44,228	29,857	26,630	25,305	25,125
Amortization of Goodwill & Intangibles	15,390	8,318	3,469	3,678	3,779	3,537
Selling, General & Administrative	47,728	54,850	30,835	17,610	12,783	12,499
Other Non-Interest Expense	599,059	531,786	260,896	205,362	167,781	135,351
Total Non-Interest Expense	949,847	843,352	449,472	339,692	289,533	256,032
EBT Excluding Unusual Items	1,253,955	1,360,634	809,187	284,650	280,374	255,861
Other Unusual Items	-12,536	-33,783	-13,225	-	-	-
Pretax Income	1,241,419	1,326,851	795,962	284,650	280,374	255,861
Income Tax Expense	271,597	293,956	119,053	60,739	35,816	25,296
Earnings From Continuing Operations	969,822	1,032,895	676,909	223,911	244,558	230,565
Minority Interest in Earnings	-88	-184	-340	139	-156	-191
Net Income	969,734	1,032,711	676,569	224,050	244,402	230,374
Net Income to Common	969,734	1,032,711	676,569	224,050	244,402	230,374
Net Income Growth	-9.32%	52.64%	201.97%	-8.33%	6.09%	10.39%
Basic Shares Outstanding	38,679	31,423	31,396	31,396	31,396	31,396
Diluted Shares Outstanding	38,679	31,423	31,396	31,396	31,396	31,396
Shares Change (YoY)	23.20%	0.09%	-	-	-	-
EPS (Basic)	25.07	32.86	21.55	7.14	7.78	7.34
EPS (Diluted)	25.07	32.86	21.55	7.14	7.78	7.34
EPS Growth	-26.40%	52.51%	201.97%	-8.33%	6.09%	10.39%
Dividend Per Share	5.250	5.000	4.000	3.200	3.100	3.000
Dividend Growth	16.67%	25.00%	25.00%	3.23%	3.33%	7.14%
Effective Tax Rate	21.88%	22.15%	14.96%	21.34%	12.77%	9.89%

Source: S&P Global Market Intelligence. Banks template. Financial Sources.