Lagos - Zenith Bank has released a lukewarm set of results for the first quarter of the year.
The bank reported a profit after tax profit of N23. 677 billion, which represents a 1 percent increase from the comparative period last year.
Profit before tax also limped to N28 .919 billion from N28. 877 billion as the net profit translated to basic earnings per share of 75 kobo, from 74 kobo reported in 2013.
The bank's earnings growth was however hampered by a drop in interest income from N71.435 billion to N65.534 billion.
Nonetheless, customer deposits for the period rose to N2. 288 trillion from N1. 994 trillion.
Loans and advances grew from N1. 099 trillion to N1.310 trillion, representing 19 percent improvement.
– CAJ News
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