Connect with us

brand

ZENITH BANK DELIGHTS SHAREHOLDERS WITH DIVIDEND PAYOUT OF N3 PER SHARE

Published

on

Zenith Bank’s shareholders, on Tuesday at the 30th Annual General Meeting of the Bank held at
the Civic Centre, Victoria Island, Lagos, unanimously approved the proposed final dividend of
N2.70 per share, bringing the total dividend payment for the 2020 financial year to N3.00 per share
with a total value of N94.19 billion. This followed the recent release of the Bank’s audited financial
results for the 2020 financial year.
From the audited financial results, the Group recorded a year-on-year growth of 10% in profit after
tax (PAT) from N208.8 billion recorded in 2019 to N230.7 billion. This is despite a challenging
macroeconomic environment exacerbated by the COVID 19 pandemic.
The Group also recorded a growth in gross earnings of 5% from N662.3 billion in the previous year
to N696.5 billion. The Group also recorded 8% growth in non-interest income from NGN232.1
billion in 2019 to NGN251.7 billion in 2020 and a 1% increase in interest income from NGN415.6
billion in 2019 to NGN420.8 billion in 2020.
Profit before tax (PBT) equally increased by 5%, growing from N243.3 billion in 2019 to N255.9
billion in the current year. The increase arose from a combination of growth in the topline and a
significant reduction in interest expense. Interest expense reduced from N148.5 billion in 2019 to
N121.1 billion in 2020, significantly increasing the net interest income from NGN267.0 billion in
2019 to NGN299.7 billion in 2020.
The Group’s increased retail activities translated to a corresponding increase in retail deposits and
loans. Thus, retail deposits grew by NGN612.7 billion from NGN1.11 trillion to NGN1.72 trillion
year-on-year (YoY), while savings balances significantly grew by 88% YoY and closed at NGN1.16
trillion. This retail drive, coupled with the low-interest yield environment, helped reduce the cost of
funding from 3.0% to 2.1% and reduced interest expense. However, the low-interest environment
also affected the net interest margin, which declined from 8.2% to 7.9% in the current year due to
the re-pricing of interest-bearing assets. Operating costs grew by 10% YoY but are still tracking
well below inflation which at the end of the year stood at 15.75%. Although returns on equity and

assets also reduced from 23.8% to 22.4% and from 3.4% to 3.1%, respectively, the Group still
delivered improved Earnings per Share (EPS), which grew 10% from NGN6.65 to NGN7.34 in the
current year.
The Group also increased corporate customer deposits, which alongside the growth in retail
deposits, delivered total deposit growth of 25%, to close at N5.34 trillion, driving growth in market
share. Total assets also increased significantly by 34%, from N6.35 trillion to N8.48 trillion. Despite
the COVID-19 pandemic and its associated challenges, the Group created new viable risk assets
as gross loans grew by 19%, from N2.46 trillion to N2.92 trillion. This was achieved while
maintaining a stable and low overall NPL ratio of 4.29% (2019: 4.3%) across the entire portfolio
and an increase in the cost of risk from 1.1% to 1.5%, reflecting the elevated risk environment in
2020. The Group recorded impressive liquidity and capital adequacy ratios of 66.2% and 23.0%
and remained above regulatory thresholds of 30% and 15%, respectively.
As a testament to this superlative performance and in recognition of its track record of excellent
performance, Zenith Bank was voted as Bank of the Year (Nigeria) in The Banker’s Bank of the
Year Awards 2020, Best Bank in Nigeria in the Global Finance World’s Best Banks Awards 2020
and Best Corporate Governance ‘Financial Services’ Africa 2020 by the Ethical Boardroom. Also,
the bank emerged as the Most Valuable Banking Brand in Nigeria, for the fourth consecutive year,
in the Banker Magazine “Top 500 Banking Brands 2021” and Number One Bank in Nigeria by Tier-
1 Capital in the “2020 Top 1000 World Banks” Ranking published by The Banker Magazine.
Similarly, the bank was recognised as Bank of the Decade (People’s Choice) at the ThisDay
Awards 2020, Retail Bank of the year at the 2020 BusinessDay Banks and Other Financial
Institutions (BOFI) Awards, and Best Company in Promotion of Good Health and Well-Being as
well as Best Company in Promotion of Gender Equality and Women Empowerment at the
Sustainability, Enterprise and Responsibility (SERAS) Awards 2020.
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

brand

GTCO Plc Releases 2026 Half Year Audited Results …….. Reports Profit Before Tax of ₦603.03billion,Pays Interim Dividend of ₦1

Published

on

Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the period ended June 30, 2026, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).

The Group posted a profit before tax of ₦603.03 billion, driven by strong performance recorded on the interest and trading income lines, which grew y-o-y by 7.5% and 24.7%, respectively. The strong earningsrecorded was moderated by a ₦46.2 billion fair value loss recognized in H1–2026, limiting y-o-y growth in PBT to 0.4%.

The Group grew across its asset lines, reinforcing a balance sheet that is well structured, liquid and diversified. This growth was recorded in each jurisdiction where we operate a banking franchise, and across our Payments, Pension and Funds Management businesses.”

Group’s Total assets and shareholders’ funds closed at ₦18.6trillion and ₦3.3trillion, respectively. Capital Adequacy Ratio (CAR) remained very strong, closing at 34.9% (Bank 29.2%), and asset quality improved as evidenced by IFRS 9 Stage 3 Loans which closed at 3.5% and 4.6% % at both Bank and Group Level in H1-2026 (Bank -3.4%, Group 5.0% in FY-2025). Cost of Risk (COR) improved to 0.6% from 2.2% during the same period.

The Group’s Loan book (net) grew marginally by 0.5% from ₦3.13trillion as of December 2025 to ₦3.15trillion in June 2026, converse for improved performance on Deposit liabilities which grew by 10.3% from ₦12.87trillion to ₦14.19trillion during the same period.

Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc (GTCO Plc), Mr. Segun Agbaje, said; “Our half year results speak to the strength of what we have built: a resilient franchise, a strong balance sheet and a business that no longer depends on banking alone. Fair value movements weighed on reported earnings, but the core business held firm. Interest and trading income grew, deposits strengthened, and asset quality improved at Group level. The priority now is to execute with discipline and grow responsibly. Digital is our lever for scaling across Banking, Payments, Pension and Funds Management, and for building a more diversified and resilient financial services group.”

Overall, the Group continues to post one of the best metrics in the Nigerian Financial Services Industry in terms of key financial ratios i.e., Pre-Tax Return on Equity (ROAE) of 35.9%, Pre-Tax Return on Assets (ROAA) of 6.6%, Capital Adequacy Ratio (CAR) of 34.9% (Bank: 29.2%) and Cost to Income ratio of 31.5%.

GTCO Plc is a leading financial services group with operations across Africa and the United Kingdom. Renowned   for its strong corporate governance, innovative financial solutions, and customer-centric approach, the Group provides a wide range of banking and non-banking services including payments, funds management, and pension fund administration. The Group is committed to delivering long-term value to stakeholders while driving growth and development across its markets

Continue Reading

brand

ROAD TO THE CROWN: ZENITH BANK/NBBF WOMEN’S BASKETBALL LEAGUE FINAL 8 SET FOR LAGOS

Published

on

The road to the 2026 Zenith Bank NBBF Women’s Basketball League title reaches its defining stage as the nation’s top eight teams converge on the Indoor Sports Hall of the National Stadium, Surulere, Lagos, from September 28 to October 3, 2026, for the highly anticipated national Finals.

Emerging from fiercely contested Atlantic and Savannah Conference campaigns, Nigeria Customs, AS Sky Queens, Titans, Air Warriors, MFM, First Bank, Victoria Queens,and Bayelsa Blue Whales have earned their place in the final battle for national honours.

And there is plenty to look forward to.

Last year’s champions, Dolphins Basketball Club, who lifted the trophy after defeating First Bank in the final, will not be in the mix this year after failing to make the top 4 of the Atlantic Conference, leaving the title firmly up for grabs and setting the stage for a new champion to emerge.

But the trophy will be contested by teams with plenty of championship pedigree.

First Bank, last year’s finalist and the most successful team in the history of the competition, arrives with a record nine league titles, while MFM will be looking to draw on its recent dominance after winning back-to-back championships in 2023 and 2024. With both sides among the Final 8, history, experience and ambition will collide as the battle for the crown unfolds.

It is a level of competition that reflects the growth of a league that has, for more than two decades, provided a platform for Nigeria’s best female basketball talents to emerge, compete and develop. At the heart of that journey has been Zenith Bank, the sole sponsor of the National Women’s Basketball League since 2005.

Through its partnership with the Nigeria Basketball Federation (NBBF), Zenith Bank has consistently supported the development of women’s basketball, helping to provide and sustain a competitive platform where talents can be discovered, nurtured and prepared for the highest levels of the sport.

The league has also served as an important pathway to theNational Women Basketball team, D’Tigress, with several players who have featured prominently for Nigeria emerging from the domestic competition. Beyond the national team, the league continues to contribute to youth development by giving young female athletes the opportunity to build confidence, skill, discipline, teamwork and professional sporting careers.

Now, the spotlight turns to Lagos. Which team will grab theopportunity to write a new chapter in the history of Nigerian women’s basketball?

Eight teams. One destination. One crown.

For Zenith Bank, the sponsorship of the Women’s Basketball League represents more than support for a sporting competition. It reflects the Bank’s broader commitment to creating platforms that provide opportunities, develop potential and make a meaningful difference in the lives of young Nigerians.

This commitment extends across several areas of community development, with notable initiatives including:

• The reconstruction and beautification of Ajose Adeogun Street and Roundabout
• The annual Zenith Bank Youth Parade and Light-Up Ceremony
• The construction of ICT Centres in tertiary institutions across the country, and
• The construction of the ultra-modern Iga Iduganran Primary Healthcare Centre, among others.

Through these initiatives and its longstanding support for women’s basketball, Zenith Bank continues to demonstrate that its commitment to society goes beyond banking, with a focus on creating opportunities and contributing to the development of communities and the next generation.

Continue Reading

brand

Subscribe to Dangote Refinery Shares Seamlessly Through Zenith Bank

Published

on

I

Nigerians at home and in the diaspora seeking to participate in the landmark Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals can subscribe conveniently through Zenith Bank, a receiving bank for the historic transaction and a designated electronic application channel for the offer. Subscription is open through the Zenith Bank website, the Zenith mobile app, internet banking, USSD, corporate internet banking and any Zenith Bank branch nationwide.

Across all of these channels, anchored by Zenith Bank’s network of 456 branches and 84 cash centres, investors enjoy a secure, fast and reliable route into the offer from anywhere in the world, at any hour. Whether the application begins on a phone in London, a laptop in Houston or across the counter of a Zenith banking hall in Lokoja, the path to ownership opens with a few taps and carries the investor smoothly through to completion. Every subscription is linked to the investor’s Bank Verification Number, a seal of identity and security that accompanies each application from submission to allotment. It is service the Zenith way: first-time and seasoned investors alike enjoy a straightforward and fully protected process, and the quiet confidence that their stake in history is processed through Zenith Bank.

Applications open on Monday, 14 September 2026 and run for 30 days, closing on Tuesday, 13 October 2026. According to the prospectus, the shares are offered at ₦525 each, with a minimum subscription of 10 shares, or ₦5,250. The offer seeks to raise ₦2.15 trillion, the largest equity offering ever undertaken on the African continent, and the prospectus further provides that retail investors who subscribe and hold their shares may qualify for bonus shares under the Retail Investor Incentive Programme, subject to regulatory approvals.

Zenith Bank stands ready to make participation effortless for investors who choose to take part. Nigeria’s largest bank by Tier-1 capital and the country’s most profitable bank, Zenith has built its reputation on combining scale with innovation, and that strength is now at the service of every investor in this offer. This is proven ground for the bank: Zenith Bank’s own most recent public offering was executed mainly through digital channels, a demonstration of digital readiness built on the bank’s robust digital infrastructure. That infrastructure has since been strengthened further through a comprehensive technological overhaul, positioning Zenith to serve its retail customers with the same excellence long enjoyed by its corporate clients, precisely the capability an offer of this scale demands.

Within the wider transaction, Quantum Zenith Capital & Investments Limited serves among the joint issuing houses, while Zenith Bank itself provides the secure and dependable channels through which applications are received and processed. Having successfully taken its own landmark offer to the market through digital channels, Zenith brings that same tested infrastructure and experience to the largest equity offering in African history. It is the same combination of financial strength, digital excellence and customer devotion that has earned Zenith Bank recognition year after year as one of Africa’s foremost financial institutions, trusted by millions of customers and by the corporates and governments behind the continent’s biggest transactions.

For over three decades, Zenith Bank has been the trusted gateway to Nigeria’s defining financial moments, and its channels are open for this one. Investors who wish to participate can fund their Zenith Bank account and subscribe through any of the bank’s platforms before the offer closes on 13 October 2026.

Please note that the details of the offer are provided in the prospectus and guided by extant regulations. Zenith Bank serves as a Receiving Bank and electronic application channel for this offer. Investors are advised to carefully read the Prospectus and, where appropriate, seek independent professional advice before making any investment decision.

Continue Reading

Trending

Copyright © 2025 Newsthumb Magazine | All rights reserved