By Kayode Tokede
In a clear demonstration of its industry leadership and consistency in providing superior financial returns, Zenith Bank Plc has announced its audited results for the half-year ended 30 June 2022, recording an astounding double-digit growth of 17 per cent in gross earnings, from N346 billion reported in H1 2021 to N405 billion in H1 2022.
This was in spite of a very challenging macroeconomic environment.
According to the bank’s audited half-year financial results presented to the Nigerian Exchange (NGX) yesterday, the growth was underpinned by a 19 per cent year-on-year (YoY) growth in interest income from N204 billion to N242 billion and an 18 per cent YoY growth in non-interest income from N127 billion to N149 billion.
The growth in interest income was driven by the modest increase in the loan book and improved interest margins. The increase in non-interest income attested to the Group’s success in its income diversification…
Source: Thisday Newspaper
