Zenith Bank pre-tax profit up 8.3%, declares N1.75 dividend in 2014

Nigeria’s top tier lender, Zenith Bank Plc said on Thursday its pre-tax profit for the period ended December 31, 2014 climbed up 8.3 per cent to N119.7bn from N110.5bn recorded last year.

In the same vein, post tax profit grew 4.3 per cent to N99.45bn from N95.31bn in 2013, the lender said in filing with the Nigerian Stock Exchange (NSE). Also, gross earnings grew 14.8 per cent to N403.34bn N351.47bn reported in 2013 end.

With this trend, gross earnings grew by 14.76 per cent Year-on-Year (y/y) after interest income grew by 15.9 per cent y/y to N313.4bn and non-interest income rose by 39.1 per cent y/y to N90.1 bn.

Zenith Bank announced that it is proposing a N1.75 dividend to its shareholders the same amount paid in 2013.

At the end of trading on the Nigerian bourse, share price of Zenith Bank lost 0.10 kobo declining 0.52 per cent as it opened N19.10 and closed N19.00. The 2014 end dividend yields 9.2 per cent on last week’s price of N19.

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