Zenith Bank Posts N105.7billion Profit After Tax

Zenith Bank Plc has announced a N105.663 billion profit after tax for the year ended December 31, 2015.

The bank in the result sent to the Nigeria Stock Exchange, NSE, on Tuesday, March 15, in Lagos reported an increase of N6.208bn, representing 6.24 per cent over the N99.455bn it made in 2014.

The bank’s profit before tax also rose from N119.796bn in 2014 to N125.616bn in 2015, translating to N5.820bn or 4.86 per cent.

However, Zenith Bank Plc’s gross earning for the period under review stood at N432.535bn, an increase of N29.192bn or 7.24 per cent over N403.343bn it made during the same period in 2014.

Its earnings per share rose by 20 kobo from 316 in 2014 to 336 kobo in 2015.

Non -performing loan of the money lender surged from 1.8 per cent in 2014 to 2.2 per cent at the end of 2015 financial year.

The board of directors, pursuant to the powers vested in it by the provisions of Section 379 of the Companies and Allied Matters Act (CAMA) of Nigeria, proposed a final dividend of N1.55 kobo per share which in addition to the N0.25 kobo per share paid as interim dividend amounts to N1.80 per share.