Prime Business AfricaZenith Bank’s revenue for the first quarter (Q1) of 2025 increased by 21.68 percent to N949.85 billion, up from N780.61 billion generated in the same quarter in 2024.
The lender, in its consolidated and separate unaudited financial statements for the period ended March 31, 2025, also reported that it recorded N837.64 billion in interest and similar income, which grew by 71.45 percent year-on-year from N488.54 billion.
Join our WhatsApp ChannelIt spent N246.45 billion on interest expense in Q1 2025, compared to N182.09 billion in the first quarter of last year, indicating an increase of 35.34 percent; at the same period Zenith Bank’s customers’ deposits grew by 35.13 percent year-on-year.
The bank’s customers’ deposits increased to N22.68 trillion in the first quarter of this year, against the N16.78 trillion posted in the same period last year.
This left Zenith Bank with a net interest income of N591.19 billion at the end of the quarter under review, against the N306.45 billion recorded in the corresponding period in 2024, reflecting a 92.91 percent increase.
However, the company’s net fee and commission income decreased marginally by 2.89 percent to N56.03 billion from N57.71 billion
Nevertheless, the financial institution’s bottom line was not significantly impacted by the decline, as profit before tax (PBT) increased by 9.56 percent from N320.19 billion in Q1 2024 to N350.81 billion.
Zenith Bank reported an income tax of N38.98 billion for the period between January and March 2025, compared to the N61.85 billion posted for the same period in 2024.
The 36.97 percent decline in Zenith Bank’s income tax supported the bottom line, with profit after tax (PAT) increasing by 20.70 percent year-on-year from N258.34 billion to N311.83 billion.
Meanwhile, Zenith Bank’s total assets increased by 33.50 percent to N32.41 trillion in the first quarter of 2025, up from N24.28 trillion in the corresponding period in 2024.
Also, total liabilities increased to N27.97 trillion at the end of March 2025, against the N21.43 trillion reported in Q1 of last year, indicating an increase of 30.50 percent.
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