Zenith Bank Plc (NGX: ZENITHBANK)

Zenith Bank Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	2,420,848	1,144,674	540,166	427,597	420,813	415,563
Interest Paid on Deposits	819,224	408,492	173,539	106,793	121,131	148,532
Net Interest Income	1,601,624	736,182	366,627	320,804	299,682	267,031
Net Interest Income Growth (YoY)	221.00%	100.80%	14.28%	7.05%	12.23%	-9.66%
Income From Trading Activities	1,125,939	566,973	212,678	167,483	121,678	117,798
Gain (Loss) on Sale of Assets	593	189	2,563	78	347	147
Gain (Loss) on Sale of Investments	-	-	-	251	891	-
Other Non-Interest Income	54,415	364,931	165,726	141,223	128,829	114,175
Total Non-Interest Income	1,180,947	932,093	380,967	309,035	251,745	232,120
Non-Interest Income Growth (YoY)	52.15%	144.67%	23.28%	22.76%	8.45%	28.98%
Revenues Before Loan Losses	2,782,571	1,668,275	747,594	629,839	551,427	499,151
Provision for Loan Losses	677,382	409,616	123,252	59,932	39,534	24,032
Revenue	2,105,189	1,258,659	624,342	569,907	511,893	475,119
Revenue Growth (YoY)	115.05%	101.60%	9.55%	11.33%	7.74%	3.92%
Salaries and Employee Benefits	186,664	124,415	86,412	79,885	79,520	77,858
Occupancy Expenses	40,489	29,857	26,630	25,305	25,125	21,436
Amortization of Goodwill & Intangibles	4,823	3,469	3,678	3,779	3,537	3,078
Selling, General & Administrative	54,887	30,835	17,610	12,783	12,499	15,068
Other Non-Interest Expense	511,331	260,896	205,362	167,781	135,351	114,117
Total Non-Interest Expense	798,194	449,472	339,692	289,533	256,032	231,557
EBT Excluding Unusual Items	1,306,995	809,187	284,650	280,374	255,861	243,562
Other Unusual Items	-13,225	-13,225	-	-	-	-268
Pretax Income	1,293,770	795,962	284,650	280,374	255,861	243,294
Income Tax Expense	223,756	119,053	60,739	35,816	25,296	34,451
Earnings From Continuing Operations	1,070,014	676,909	223,911	244,558	230,565	208,843
Minority Interest in Earnings	-554	-340	139	-156	-191	-150
Net Income	1,069,460	676,569	224,050	244,402	230,374	208,693
Net Income to Common	1,069,460	676,569	224,050	244,402	230,374	208,693
Net Income Growth	121.07%	201.97%	-8.33%	6.09%	10.39%	8.05%
Basic Shares Outstanding	31,396	31,396	31,396	31,396	31,396	31,396
Diluted Shares Outstanding	31,396	31,396	31,396	31,396	31,396	31,396
EPS (Basic)	34.06	21.55	7.14	7.78	7.34	6.65
EPS (Diluted)	34.06	21.55	7.14	7.78	7.34	6.65
EPS Growth	121.07%	201.97%	-8.33%	6.09%	10.39%	8.08%
Dividend Per Share	4.500	4.000	3.200	3.100	3.000	2.800
Dividend Growth	32.35%	25.00%	3.23%	3.33%	7.14%	0%
Effective Tax Rate	17.29%	14.96%	21.34%	12.77%	9.89%	14.16%

Source: S&P Capital IQ. Banks template. Financial Sources.