Zenith Bank Plc Thursday declared a Profit Before
Tax (PBT) of N54.1 billion for the half year ended
June 30, 2013, up from the N50.2billion posted in
the corresponding period of 2012. In the results made available to the Nigerian Stock
Exchange (NSE), Zenith Bank’s profit after tax also
rose from N42.41 billion to N45.419 billion. Gross earnings were N171 billion, up by 13 per
cent above the N151 billion recorded in the same
period in 2012. Interest income grew by 16 per
cent from N111 billion to N128 billion, while net
interest income appreciated by 15 per cent from
N79.9 billion to N91.35 billion. Earnings per share followed the same positive
trajectory, rising by 11 per cent from 134 kobo to
144 kobo. Customers’ deposits grew by 18 per cent from
N1.701 trillion to N2 trillion, indicating customers’
confidence in the bank. Also, cost to income ratio
reduced from 57.2 per cent to 53.3 per cent. Market operators who spoke with news men said
the performance showed the positive trend the
bank has been recording over the years, saying
investors should expect another bountiful harvest
in the current financial year. It will be recalled that the Managing Director of
Zenith Bank, Mr. Godwin Emefiele had told
shareholders during the annual general meeting
for the 2012 financial year in Lagos that the
management would continue to work harder to
ensure they put expenses under control for the general interest of our shareholders and the bank. Similarly, the Chairman of the bank, Mr. Steve
Omojafor had assured shareholders that amid the
face of a very challenging operating environment,
Zenith Bank would maintain its culture of
outstanding performance and industry leadership. His word: “As a bank, we are monitoring
developments both in the local and global
economy and adapting our strategies as
appropriate. According to him, Zenith Bank began 2013 with
confidence and remained committed to its
primary goals and to drive shareholders value. He said: “Our growth over the years has been
organically and intrinsically linked with the
growth of our people who are a veritable source
of competitive advantage.
Tax (PBT) of N54.1 billion for the half year ended
June 30, 2013, up from the N50.2billion posted in
the corresponding period of 2012. In the results made available to the Nigerian Stock
Exchange (NSE), Zenith Bank’s profit after tax also
rose from N42.41 billion to N45.419 billion. Gross earnings were N171 billion, up by 13 per
cent above the N151 billion recorded in the same
period in 2012. Interest income grew by 16 per
cent from N111 billion to N128 billion, while net
interest income appreciated by 15 per cent from
N79.9 billion to N91.35 billion. Earnings per share followed the same positive
trajectory, rising by 11 per cent from 134 kobo to
144 kobo. Customers’ deposits grew by 18 per cent from
N1.701 trillion to N2 trillion, indicating customers’
confidence in the bank. Also, cost to income ratio
reduced from 57.2 per cent to 53.3 per cent. Market operators who spoke with news men said
the performance showed the positive trend the
bank has been recording over the years, saying
investors should expect another bountiful harvest
in the current financial year. It will be recalled that the Managing Director of
Zenith Bank, Mr. Godwin Emefiele had told
shareholders during the annual general meeting
for the 2012 financial year in Lagos that the
management would continue to work harder to
ensure they put expenses under control for the general interest of our shareholders and the bank. Similarly, the Chairman of the bank, Mr. Steve
Omojafor had assured shareholders that amid the
face of a very challenging operating environment,
Zenith Bank would maintain its culture of
outstanding performance and industry leadership. His word: “As a bank, we are monitoring
developments both in the local and global
economy and adapting our strategies as
appropriate. According to him, Zenith Bank began 2013 with
confidence and remained committed to its
primary goals and to drive shareholders value. He said: “Our growth over the years has been
organically and intrinsically linked with the
growth of our people who are a veritable source
of competitive advantage.
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