Zenith Bank has announced gross earnings of N745.19 billion for the financial year ended Dec. 31, 2017. Zenith Bank Int’l Plc full year results for the period ended Dec. 31st 2017 was released to the market on Monday, March. 12th, 2018.
The figure represented a growth of 46.69 per cent over N507.99 billion posted in 2016.
Key Highlights:
- Gross earnings and net income came in at 46.7% and 37.2% respectively compared to 2016 figures.
- The bank’s interest expenses jumped to 50.1% as a result increased provision made on financial assets impairment.
- Loan impairment charges spiked to 203.6% as the bank made a comprehensive provision in line with recent CBN’s directive on NPL and CAR.
- Current Acid Test ratio of 2.54x shows that the company has a higher potential of meeting its short-term’s obligations as they fall due compared to the industry average.
- A final dividend of N2.45 has been proposed resulting in a dividend yield of 7.92% at the closing market price of N30.95 on Tuesday.
