Zenith Bank Plc has reported a net profit of ₦532.18 billion for the first half of 2025, representing a 7.9% year-on-year decline from ₦578 billion recorded in the same period last year.
The bank’s audited half-year financial statement submitted to the Nigerian Exchange shows that earnings per share fell to ₦12.95 compared to ₦18.40 in 2024. Analysts attribute the dip in profitability to weaker trading income and increased credit impairment charges, as well as dilution from new share issuances tied to recapitalisation.
Despite the decline, Zenith’s Board of Directors proposed an interim dividend of ₦1.25 per share — a 25% increase compared to ₦1.00 declared in H1 2024. This equates to a dividend yield of 1.9% based on the bank’s closing price of ₦66.95 per share.
The bank’s interest income surged 60% year-on-year to ₦1.84 trillion, buoyed by higher earnings from customer loans, interbank placements, and fixed income securities. Net interest income nearly doubled to ₦1.35 trillion. However, non-interest income dropped 31.8% year-on-year to ₦613.15 billion, largely due to reduced gains on investment securities.
Operating expenses also increased by 23.2% year-on-year, pushing the cost-to-income ratio to 48.2% from 39.4%. Consequently, pretax profit slipped by 13.9% to ₦625.63 billion, with profit after tax closing at ₦532.18 billion.
