Zenith Bank PLC has reported a 16% year-on-year growth in gross earnings to N3.4 trillion for the nine months ended September 30, 2025, up from N2.9 trillion in the same period of 2024.
The growth, according to the unaudited financial results presented to the Nigerian Exchange (NGX), was driven largely by a sustained rise in interest income and disciplined execution amid a challenging macroeconomic environment.
Interest income surged by 41% to N2.7 trillion, supported by the high-yield interest rate environment and the expansion of the bank’s investment portfolio.
However, interest expenses also increased by 22% to N814 billion, reflecting the impact of tighter monetary policies and a growing funding base.
Despite this, Zenith Bank maintained a healthy net interest margin (NIM) of 12%, up from 10% recorded in September 2024.
Non-interest income declined by 38% to N535 billion, weighed down by a 60% fall in trading gains. Profit before tax fell by 8% to N917 billion from N1 trillion a year earlier, while profit after tax also dipped to N764 billion.
Read Also: How OPay is using CyberLabs to train tomorrow’s innovators
Earnings per share (EPS) stood at N18.60, compared to N26.34 in the same period last year, as the bank intensified efforts to improve its loan book quality.
Total assets grew by 4% to N31 trillion as of September 2025, from N30 trillion in December 2024.
The growth was largely underpinned by an eight percent increase in customer deposits to N23.7 trillion. Gross loans declined by nine percent to N10 trillion, reflecting the bank’s cautious approach to risk, while its non-performing loan (NPL) ratio improved to 3% following strategic write-offs of impaired assets.
Zenith Bank PLC maintained strong profitability ratios, with return on average equity (ROAE) at 23.3% and return on average assets (ROAA) at 3.3%.
The cost of funds rose to 4.5% in line with elevated market rates, while the cost-to-income ratio increased to 45%. The bank’s coverage ratio and liquidity ratio remained robust at 211.1% and 53%, respectively, well above regulatory thresholds.
Commenting on the results, Adaora Umeoji, Group Managing Director/CEO, attributed the performance to the bank’s resilience and adaptive strategy.
“The Bank’s robust performance is an attestation to the resilience of the Zenith brand, the result-driven strategy, and the adaptability of our people in an evolving operating environment.
“We have fortified our capital base, reset our asset quality, and are well-positioned for sustainable and profitable growth,” she said.
Looking ahead to the fourth quarter, Umeoji expressed confidence in the bank’s growth trajectory.
“This result confirms the resilience of both our business model and our people. Our focus on innovation, digital transformation, and developing solutions that address our clients’ changing needs positions us to capitalise on emerging opportunities whilst maintaining our disciplined approach to growth,” she said.
Zenith Bank’s consistent performance and governance standards have continued to attract industry recognition.
The bank was ranked number one in Nigeria by Tier-1 Capital for the 16th consecutive year in The Banker’s 2025 Top 1000 World Banks Ranking and named Nigeria’s Best Bank at the Euromoney Awards for Excellence 2025.
It has also won multiple awards, including Bank of the Year (Nigeria) by The Banker in 2020, 2022, and 2024; Best Commercial Bank, Nigeria, by World Finance for five consecutive years (2021–2025); and Most Sustainable Bank, Nigeria, by International Banker in 2023 and 2024.