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ZENITHBANK FY’2016 PERFORMANCE SNAPSHOT – PAT grew significantly by 22.70%y/y; declares 1.77 final dividend.



Zenith Bank Plc (ZENITHBANK)  released its 12 months audited results for the period ended December 31st, 2016, this morning, being 27th of February, 2017.

From the result gathered,

Gross Earnings grew by 17.45% y/y to N508.00 billion, so was Operating Expenses by 3.78% y/y.
Profit Before Tax and Profit After Tax, both increased significantly by 24.78% y/y and 22.70% y/y
to N156.75 bilion and N129.65 billion respectively after a tax surge of 35.80%y/y

Earnings per share (EPS) also grew to N4.12 in the period, compared with N3.36 recorded in the previous year.
The directors also recommended a final dividend of N63.42 billion, which translate to N1.77 per share set for a closure date for 10th March through 13th March 2017 and a payment date set for 23rd March, 2017.

The FY growth  in PBT was spurred by a massive improvement of 401.66%y/y in Other Income ( Forex Income of N20 billion ) and 56%y/y in Trading Income ( Foreign currency revaluation gain of N25.59 billion) compared with losses in previous year.

Finally, ZENITHBANK result was impressive compared to the previous year in review, outperforming both management guidance and consensus estimate.


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