Zenith Bank has announced that its Staff Provident Fund has recently purchased 33,015,935 units of the bank's shares, valued at approximately ₦2.3 billion. The purchase, disclosed in a director-dealing notice filed with the Nigerian Exchange (NGX) on November 11, 2025, underscores the bank’s ongoing commitment to both employee welfare and strategic investments.
The transaction, carried out in nine tranches, occurred at an average price of ₦69.67 per share across three trading days—September 26, 29, and 30—on the NGX in Lagos, with transaction ID 029200268F8M5Y1629.
In addition to the share purchase, the bank's Staff Provident Fund sold 1,750,000 shares on November 7, 2025, at ₦59.98 per share, totaling ₦104.97 million. The sale is likely part of the fund’s efforts to meet employee benefit obligations. This move highlights how institutional funds like the Staff Provident Fund can leverage the equities market to grow their value and support employees’ financial benefits.
Financial Performance: Robust Revenue Growth Amid Rising Expenses
For the nine-month period ending September 30, 2025, Zenith Bank reported a strong rise in revenue, with interest income climbing 40.7% to ₦2.74 trillion, up from ₦1.94 trillion in the same period of 2024. Key contributors to this growth included:
- Interest income from loans and advances: ₦1.36 trillion
- Interest income from investment securities, including treasury bills: ₦740.5 billion from treasury bills and ₦400.3 billion from other investment securities.
Despite the solid revenue growth, operating expenses increased significantly. Personnel expenses rose to ₦182 billion, up from ₦150.6 billion in the previous year. Additionally, total operating expenses surged to ₦532.1 billion, marking a 12.74% increase. These rising costs weighed on the bank’s pretax profit, which decreased to ₦917.4 billion from ₦1 trillion in 2024.
After accounting for an impairment charge of ₦781.5 billion, Zenith Bank reported a net income of ₦1.14 trillion, reflecting a 42.63% year-on-year increase. However, operational expenses tempered the overall impact on profitability.
Balance Sheet Growth and Liquidity Management
Zenith Bank’s total assets increased by 2.6%, reaching ₦31.17 trillion as of September 30, 2025. Key areas of growth included:
- Cash and bank balances: ₦6.85 trillion, up from ₦5.37 trillion in the previous year.
- Loans and advances: ₦9.37 trillion, reflecting continued lending growth.
- Investment securities: ₦4.85 trillion, up 2%, with treasury bills growing by 46% to ₦4.1 trillion, highlighting a continued focus on liquidity management.
On the liabilities side, customer deposits grew by 9.8%, rising to ₦23.68 trillion, further bolstering the bank's financial position.
Zenith Bank Stock Performance
Zenith Bank’s shares have performed exceptionally well in 2025, gaining more than 30% year-to-date on the Nigerian Exchange. As of the latest trading, the bank’s shares are priced at ₦59.40, reflecting positive investor sentiment amidst strong financial results and strategic moves like the Staff Provident Fund share purchases.
Outlook
Despite the increased costs, particularly personnel expenses, Zenith Bank's strong revenue performance, robust balance sheet, and healthy liquidity position indicate a positive outlook. The recent investment by the Staff Provident Fund, alongside the bank's continued focus on expanding assets and maintaining liquidity, positions Zenith Bank for sustainable growth in the years ahead.
Zenith Bank’s focus on both organic growth through its core banking operations and strategic investments, such as the recent share purchases, underscores its commitment to creating long-term value for both employees and shareholders.