Zenith Bank Plc on Tuesday 19th February, 2019 rolled out its 2018 audited financial report, which showed that the bank grew its Profit after Tax for the year end by 11.30 % to close at N193.424 billion away from the previous PAT of N173.791 billion recorded in 2017.
The Bank’s full year result released by the Nigerian Stock Exchange (NSE), revealed a total net interest income of 14.57 percent appreciation to settle at N295.594 billion from N257.991 billion recorded in the preceding year of 2017.
The report also showed that the bank had its impairment loss on financial and non-financial instruments declined by 81.29 percent to about N18 billion from about N98 billions of 2017, bringing the Net interest income after impairment loss to N277 billion in the current year from 2017’s N159 billion.
The Zenith Bank report showed that the gross earnings represented a drop of 15.41 per cent when compared to N745.189 billion posted in the comparative period of 2017.
Also, the bank profit before tax during the period under review grew by16.24 percent, closing at N231.685 billion as against N199.319 billion in the corresponding period.
The earnings per share appreciated by 11.30 percent from previous year’s N5.54kobo to current year’s N6.16kobo.
The current period’s PE Ratio is at 4.0x; while the earnings yield stands at 24.89% with a reference stock price of N24.75 at the time of computation.
The group proposes a final dividend of N2.50kobo per ordinary share, subject to appropriate withholding tax and approval will be paid to shareholders whose names appear in the Register of Members as at the close of business on the 8th March 2019.
The Register of Shareholders will be closed from 11th March, 2019 to 15th of March, 2019. The Qualification date is on 8 March 2019.