Zenith Bank Plc has released its audited financial results for the 2025 fiscal year, delivering a resilient performance marked by significant revenue expansion, even as profitability edged slightly lower.
The bank reported a pre-tax profit of N1.26 trillion, representing a modest 4.78% decline compared to the N1.3 trillion recorded in 2024. Despite this dip, the group’s core earnings strength remained evident, driven by robust growth in interest income and improved operating fundamentals.
Interest income surged to N3.6 trillion, a notable increase from N2.7 trillion in the previous year. This growth was largely fueled by higher yields on earning assets and increased contributions from key income lines. Loans and advances to customers remained the primary driver, generating N1.8 trillion, up 20.15% year-on-year. Treasury bills also played a significant role, contributing N1.1 trillion, while income from government bonds and other securities added further support.
Reflecting confidence in its financial position, the bank proposed a final dividend of N8.75 per share, bringing total dividends for the 2025 financial year to N10.00 per share, inclusive of the N1.25 interim payout. This marks a substantial increase from the N4.00 final dividend declared in the prior year.
Revenue Strength and Cost Pressures
A deeper look at the numbers highlights strong underlying momentum. Net interest income rose by 52.67% to N2.6 trillion, supported by the expansion in interest-earning assets. However, this was partially offset by higher impairment charges on financial instruments, which climbed to N742.1 billion from N657 billion, reflecting a more cautious stance amid macroeconomic uncertainties.
After accounting for these impairments, net interest income stood at approximately N1.8 trillion, representing a significant year-on-year increase.
Non-interest income also recorded solid growth. Fees and commissions rose by 41.06% to N291.8 billion, while other operating income reached N176.2 billion, largely driven by foreign exchange revaluation gains.
However, performance was weighed down by a trading loss of N63.1 billion, a sharp reversal from the N1.1 trillion trading profit recorded in 2024. This shift significantly impacted overall profitability and explains much of the decline in pre-tax earnings.
Operating costs also trended upward. Personnel expenses increased by 44.05% to N294.1 billion, while total operating expenses rose 14.19% to N669.8 billion. These cost pressures further constrained bottom-line growth.
Following an income tax expense of N222.8 billion, profit after tax settled at N1.04 trillion. Earnings per share declined to N25.32, down from N32.87 in the previous year.
Balance Sheet Expansion
The bank’s balance sheet continued to show steady growth, underscoring its scale and market position. Total assets rose to N31.4 trillion, up from N29.9 trillion in 2024.
Loans and advances to customers remained the largest asset class at N10.4 trillion, followed by cash and balances totaling N6.9 trillion. Investment securities stood at N5.4 trillion, with treasury bills accounting for a significant N4.6 trillion, highlighting a diversified asset mix.
On the liabilities side, total obligations increased to N26.5 trillion, with customer deposits dominating at N24.3 trillion. Meanwhile, shareholders’ equity strengthened, supported by retained earnings which climbed to N2.8 trillion, contributing to total equity of N4.9 trillion.
Market Activity and Outlook
As of the morning trading session on April 7, 2026, activity on the Nigerian Exchange Limited showed strong investor interest, with over 9 million shares of Zenith Bank traded within the early hours.
The bank’s stock has already delivered an impressive year-to-date gain of over 66% in 2026, suggesting strong market confidence. Investors are expected to further digest the results in the coming sessions, particularly weighing the impact of trading losses against the bank’s otherwise solid revenue growth and dividend increase.
Overall, the results reflect a bank that continues to grow its core income streams and maintain balance sheet strength, even as external pressures and market volatility shape its profitability trajectory.