Zenith Bank grows post-tax profit by 11.3% to N193 bn

Zenith Bank grows post-tax profit by 11.3% to N193 bn; proposes N2.50k dividend in FY 2018.
•      Zenith Bank is one of the biggest and most profitable banks in Nigeria with a
shareholder base of over one million, an indication of the strength of the bank brand.
•      Gross Earnings dropped by 15.41% to N 630.34 bn in FY 2018.
•      Profit before tax and Profit after tax increased by 16.24% and 11.30% to N 231.69 bn
and N 193.42 bn respectively.
•      The bank also proposed a final dividend of N 2.50 which implies a very attractive
dividend yield of 10%.
•      The growth in Net Interest income driven by the double-digit YoY decline in interest
expenses (as a result of a reduction in relatively more expensive time deposits)
contributed significantly to profitability.
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