Zenith Bank Group recorded a pre-tax profit of N928.80 billion for the nine months ended September 2026, up 1.24% from N917.41 billion in the corresponding period of 2025. Third-quarter pre-tax profit stood at N290.85 billion, compared with N276.60 billion in the second quarter and N291.70 billion in the third quarter of 2025.
A steep fall in impairment charges supported pre-tax earnings despite weaker gross earnings and trading losses. Impairment charges declined 70.52% to N230.77 billion from N782.76 billion, a reduction of N551.99 billion. That relief absorbed a reversal in trading performance from a N277.65 billion gain to a N229.19 billion loss.
Key consolidated figures for the period include:
- Gross earnings: N2.87 trillion, down 15.02% from N3.37 trillion - Net interest income: N1.93 trillion, up 0.09% - Net fee and commission income: N256.85 billion, up 26.56% from N202.94 billion - Profit after tax: N675.83 billion, down 11.56% from N764.20 billion - Earnings per share: N16.41, down 11.77% from N18.60 - Total assets: N34.39 trillion, up 10.30% - Loans and advances: N11.64 trillion, up 24.17% - Customer deposits: N27.11 trillion, up 14.47%
Profit after tax fell because the tax charge rose 65.12% to N252.97 billion, outweighing the modest gain in pre-tax earnings.
Interest income declined 4.52% to N2.62 trillion. Income from customer loans rose to N1.44 trillion from N1.36 trillion, but treasury-bill income dropped to N572.99 billion from N740.50 billion and returns on government and other bonds also weakened. Interest expense fell 15.41% to N688.73 billion, helped by a reduction in interest on borrowed funds to N64.93 billion from N196.00 billion, which kept net interest income broadly stable.
Fee income provided further support as electronic-product fees climbed to N77.17 billion from N59.06 billion. Other operating income reached N106.54 billion, supported by loan recoveries of N61.79 billion.
Operating costs remained elevated. Other operating expenses rose 17.57% to N625.61 billion on higher information technology, fuel and maintenance costs, while personnel expenses increased 17.06% to N213.15 billion.
