Zenith Bank Group, the parent company of Zenith Bank, has announced strong financial results for the full year ending December 31, 2024, posting a 53% rise in profit-after-tax to N1.03 trillion.
The bank has declared a final dividend of N4 per share to shareholders. It previously paid an interim dividend of N1 per share. This brings its total dividend for the year to N5 per unit.
The group’s gross earnings surged by 86% to N3.97 trillion, up from N2.13 trillion in the previous year.
The growth was largely driven by a sharp increase in interest income and similar income, which more than doubled to N2.72 trillion from N1.14 trillion.
Despite the robust earnings, operating expenses nearly doubled, rising from N291.73 billion to N586.64 billion, while personnel costs also saw a substantial increase, growing from N124.42 billion to N204.17 billion.
The bank’s financial strength was further underscored by a surge in customer deposits, which rose 45% to N21.96 trillion from N15.17 trillion in the previous year.
Similarly, total assets expanded significantly to N29.96 trillion, compared to N20.37 trillion in 2023, reinforcing Zenith Bank’s position as one of Nigeria’s leading financial institutions.
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