Prime Business Africa
Zenith Bank’s gross earnings rose to N1 trillion in the first three months of 2026, rising by 6.14 percent when compared to the N949.85 billion recorded between January and March of 2025.
Interest income added N869.10 billion to the company’s earnings in the first quarter (Q1) of 2026, compared to the N837.64 billion contributed during the corresponding period last year, reflecting a 3.76 percent growth.
While interest income increased, analysis of Zenith Bank’s consolidated and separate unaudited financial statements for the period ended March 31, 2026, showed that interest expense declined by 4.64 percent year-on-year.
Join our WhatsApp ChannelBetween January and March 2026, Zenith Bank expended N235.02 billion on interest expenses, compared to the N246.45 billion posted within the same period in 2026.
The decline boosted net interest income, which increased by 7.26 percent to N634.08 billion in the first quarter of this year, surpassing the N591.19 billion recorded in the first three months of the previous year.
Also, net interest income after impairment charge increased to N576.51 billion in Q1 2026, against the N541.81 billion reported in Q1 2025, representing a 6.40 percent growth.
The company saw a significant jump in net fee and commission income, after reporting N81.04 billion in the first quarter of this year, which is 44.63 percent growth when compared to the N56.03 billion achieved in Q1 last year.
However, Zenith Bank recorded N24.78 billion loss in trading in the first three months of 2026, failing to repeat the N22.17 billion earned from the revenue source during the corresponding period in 2025.
The loss was offset with other operating income, where the lender recorded the most growth, after reporting N50.18 billion in Q1 2026, surpassing the N11.06 billion in Q1 2025 by 353.72 percent.
Also, other operating expenses gulped N233.29 billion in Q1 of this year, compared to the N201.46 billion incurred in the same period in 2025, representing a 15.80 percent increase.
Zenith Bank saw a 2.88 percent growth in profit before tax (PBT), after reporting N360.91 billion in the first quarter of 2026, exceeding the N350.81 billion recorded in Q1 last year.
The company incurred N46.90 billion in income tax between January and March 2026, compared to the N38.98 billion paid as tax in the first three months of 2025.
After the 20.31 percent increase in tax deduction, the lender’s profit after tax (PAT) marginally grew by 0.70 percent year-on-year, from N311.83 billion to N314.01 billion.
Meanwhile, the Central Bank of Nigeria (CBN) fined Zenith Bank N1.95 billion between January and December 2025 for various infractions.
For press releases, tip-offs, and corporate information, call 08149575257 (hotline), email: [email protected] and [email protected]
Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
