Zenith Bank Plc has announced outstanding financial performance for the year ended December 31, 2024, with gross earnings surging 86% year-on-year (YoY) to N3.97 trillion, up from N2.13 trillion in 2023.
Key Financial Highlights
Profit Before Tax (PBT) rose 67% to N1.3 trillion (2023: N796 billion)
Net Interest Income grew 135% to N1.7 trillion (2023: N736 billion)
Non-Interest Income increased 20% to N1.1 trillion
Total Assets expanded 47% to N30 trillion (2023: N20 trillion)
Customer Deposits up 45% to N22 trillion, driven by corporate and retail growth
Proposed Final Dividend: N4.00 per share, bringing total dividend to N5.00 per share
Strategic Growth & Investor Confidence
The bank successfully raised N350 billion in capital through a rights issue and public offer, achieving a 160% subscription rate. The funds will be deployed to:
✔ Strengthen technology infrastructure
✔ Enhance liquidity management
✔ Support expansion into key African markets
Leadership & Awards
Dr. Adaora Umeoji, Group Managing Director/CEO, stated:
"Our performance reflects our commitment to innovation, customer-centric solutions, and financial inclusion. Despite macroeconomic challenges, Zenith Bank remains resilient and well-positioned for sustainable growth."
The bank’s excellence has been recognized with multiple awards, including:
🏆 No. 1 Bank in Nigeria (Tier-1 Capital) – 15th consecutive year (The Banker Magazine)
🏆 Bank of the Year (Nigeria) – 2020, 2022, 2024 (The Banker Awards)
🏆 Best Bank in Nigeria – Four times in five years (Global Finance)
🏆 Most Sustainable Bank, Nigeria – 2023 & 2024 (International Banker)
Risk Management & Stability
Non-Performing Loan (NPL) Ratio: 4.7% (Coverage ratio: 223%)
Cost-to-Income Ratio: 38.9% (2023: 36.1%)
Return on Average Assets (ROAA): 4.1% (unchanged)
Outlook
With a solid capital base and innovative banking solutions, Zenith Bank is strategically positioned to maintain its market leadership in Nigeria and beyond.
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Source: Nigerian Exchange (NGX), Zenith Bank Audited Financials (2024)