Between January and September 2025, Zenith Bank Plc recorded gross earnings of 3.4 trillion compared with the N2.9 trillion generated in the same period of 2024.
This 16 per cent year-on-year growth in revenue affirmed the bank’s resilience, strong momentum, disciplined execution and an ability to deliver long-term shareholder value in spite of challenging macroeconomic environment.
In its unaudited financial results for the nine months ended September 30, 2025, filed to the Nigerian Exchange (NGX) Limited, the lender attributed the improvement to a sustained growth in interest income, which grew by 41 per cent to N2.7 trillion. The growth in interest income was supported by a high-yield rate environment and an expansion in its investment portfolio.
Despite the increase in interest expense by 22 per cent to N814 billion on the back of a tightening monetary cycle and a growth in the bank’s funding base, the company achieved a healthy Net Interest Margin (NIM) of 12 per cent as against 10 per cent in September 2024, with non-interest income down by 38 per cent to N535 billion due to a 60 per cent decline in trading gains.
Zenith Bank posted a pre-tax profit of N917 billion compared with N1.00 trillion reported in September 2024, and ...-tax profit retreated by 8 per cent to N764 billion, with the Earnings Per Share (EPS) at N18.60 versus N26.34 in September 2024.
However, its total assets grew by 4 per cent on a year-to-date basis to N31 trillion as at September 2025 from N30 trillion in December 2024 as a result of an 8 per cent improvement in customer deposits to N23.7 trillion within the same period.
Gross loans declined by 9 per cent to N10 trillion as at September 2025, while Non-Performing Loan (NPL) ratio improved to 3 per cent due to the write-off of some bad loans.
Return on Average Equity (ROAE) and Return on Average Assets (ROAA) stood at 23.3 per cent and 3.3 per cent, respectively. Cost of funds increased to 4.5 per cent, underscored by the broader elevated interest rate environment, and the cost of risk stood at 10 per cent, while cost-to-income ratio rose to 45 per cent.
Coverage ratio and liquidity ratio remain solid and well within regulatory limits at 211.1 per cent and 53 per cent apiece.
“The bank’s robust performance is an attestation to the resilience of the Zenith brand, result-driven strategy, and the adaptability of our people in an evolving operating environment. We have fortified our capital base, reset our asset quality, and are well positioned for sustainable and profitable growth,” the chief executive of the firm, Ms Adaora Umeoji, said.
“This result confirms the resilience of both our business model and our people. We’re on a solid growth path that we expect to maintain through the remainder of the year.
“Our focus on innovation, digital transformation, and developing solutions that address our clients’ changing needs positions us to capitalise on emerging opportunities whilst maintaining our disciplined approach to growth,” she added.