Zenith Bank Plc published its H1:2023 interim financial results, recording a 138.51% YoY expansion in Gross Earnings to NGN931.12bn. This is on the wheels of a tremendous increase in non-interest income (+238.47% YoY to NGN551.84bn) in the period. Interest Income also supported growth in Gross Earnings as it grew by 71.86% YoY to NGN415.43bn. Meanwhile, Operating Expenses rose by 22.77% YoY to NGN219.27bn owing to rising personnel costs. Profit Before Tax (PBT) and Profit After Tax (PAT) increased by 169.50% and 161.85% to NGN350.36bn and NGN291.73bn respectively.
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