Zenith Bank’s Gross Earnings Rises By 4% In H1 2020, With Interim Dividend Of 30k
Zenith Bank Plc has announced its audited results for the half-year ended June 30, 2020, as gross earnings rose by 4% from N332 billion in June 2019 to N346 billion, with an interim dividend of 30k per share to be paid to its shareholders for the half-year 2020 amid the ravaging impact of the coronavirus (COVID-19), an indication of resilience in weathering the economic storm.
According to the audited statement of account which was presented to the Nigerian Stock Exchange (NSE) on Thursday, September 3, 2020, this top-line growth was driven by 6% growth (YoY) in non-interest income from N110 billion in H1 2019 to N116 billion in H1 2020. The growth in gross income as well as the decline in interest expenses culminated in a 2% growth year-on-year of Profit Before Tax which increased to N114 billion in H1 2020 from N112 billion in H1 2019. Earnings per share also increased by 17% to N3.30 in H1 2020 from N2.83 in H1 2019.
The Group’s total deposits grew by 15% from N4.3 trillion in December 2019 to N4.9 trillion at the close of H1 2020, driven by a 41% increase in retail deposits from N1.1 trillion to close at N1.6 trillion.