Zenith Bank Posts N232bn as profit before tax
.Presents impressive financial results
By Udeme Clement & Faith Idem
The Zenith Bank has recorded impressive performance in its financial business in 2018 economic year, as the Bank presented N232billion realised as Profit Before Tax, PBT, as at December 31, 2018.
Also, the results presented by the Bank shows increase in Profit After Tax, PAT, from N174 billion to N193 billion , which represents 11 per cent growth, when compared to the previous year.
Financial Business learnt that the figures above formed part of Zenith Bank’s audited financial records for 2018 fiscal year, released yesterday in Lagos.
In the same vein, the Bank proposed dividend of N2.50 per share for shareholders, thereby bringing the total dividend to N2.80 per share, showing a yield of 11.2 per cent.
The proposed dividend according to the Bank’s statement practically shows its commitment to shareholders.
Comparatively, the N232billion realised by the Bank as PBT shows increase of 16.6 per cent over N199 billion made during the same period in 2017 fiscal year.
More so, the financial results presented by Zenith Bank is said to be the highest so far published by any commercial bank in the country, which has further strengthened confidence in the banking sector.