Zenith Bank Plc hasannounced its unaudited results for the first quarter ended 31st March 2025 Q125 with Gross Earnings rising to N950 billion, about 22 percent from N781 billion reported in the corresponding period of 2024, Q124.
The unaudited statement of account submitted to the Nigerian Exchange NGX on Wednesday shows that growth in the topline was driven mainly by a 72 increase in the Groups interest and similar income which rose to N838 billion in the period under review as against N489 billion in Q124. The growth in interest income was on the back of the sustained high-interest rate environment.
However, non-interest income declined by 67, with the increase in other operating income outpaced by the drop in trading gains.
The Group recorded a 10 Year-on-Year YoY increase in Profit Before Tax PBT, which stood at N351 billion as against N320 billion recorded in Q1 2024. Relative to the same period, Profit After Tax PAT also rose 21 to N312 billion.
The profitability was further enhanced by a decline in the cost of funds, which stood at 3.9 in Q1 2025 versus 4 in Q1 2024. The cost of risk dropped to 1.8 against the 2.8 reported in March 2024.