ZENITH BANK Plc. Posts 10.40% PAT Growth in Q4’2020

The Q4’2020 result of Zenith Plc showed that Interest income advanced by 1.26% from N415.56 bn in Q4’2019 to N420.81 bn in the current period. Net interest income increased by 12.23% to N299.68 bn in Q4’2020 from N267.03 bn in Q4’2019. The increase in net interest income was driven by a 18.45% decline in interest expense. Likewise, profit before tax advanced by 5.17% from N243.29 bn recorded in Q4’2019 to N255.86 bn in the current period. The growth in profit was driven by a 256.89% and 3.29% increase in other operating income and trading income, respectively, but subdued by a 64.51% hike in impairment charge and a 20.75% fall in net fees and commission income. Profit after tax grew by 10.40% from N208.84 bn in Q4’2019 to N230.57 bn in Q4’2020, due to a 26.57% decline in income tax expense. Consequently, earnings per share went up by 10.38% from N6.65 in Q4’2019 to N7.34 in Q4’2020. Zenith currently trades at N26.00.

Please find here the Zenith Q4 2020 Earnings Flash snapshot