Lagos-based financial services group, Zenith Bank Plc, founded by Nigerian banker Jim Ovia, reported mixed results for the first half of its 2025 fiscal year. Its profit fell below 360 million, weighed down by a sharp rise in impairments on financial and non-financial instruments.
Profit down on higher impairments
According to the banks interim financial statements for the six months ending June 30, 2025 , net profit dropped to N532.2 billion 355.7 million from N578 billion 386.3 million a year earlier. The decline came despite a notable increase in interest income and higher fees and commissions which pointed to underlying strength in core banking operations.