Zenith Bank stock: nine-month pretax profit edges up 1.2%

Zenith Bank Plc increased pretax profit in the nine months ended September 2026, even as weaker trading income and higher operating costs weighed on earnings. BusinessDay reported on October 30 that unaudited pretax profit reached NGN 928.8 billion for the period.

Lower impairments support profit

Credit impairment charges fell to NGN 230.77 billion from NGN 782.76 billion a year earlier, helping offset a 15 percent decline in gross earnings to NGN 2.87 trillion. Net interest income held broadly steady at NGN 1.93 trillion, while net fee and commission income increased to NGN 256.85 billion.

Trading income was a major drag, turning into a net loss of NGN 229.19 billion from a gain of NGN 277.65 billion in the prior-year period. Operating expenses rose 18.4 percent to NGN 1.02 trillion, while income tax expense increased 65.1 percent to NGN 252.97 billion.

Balance sheet continues to expand

Profit after tax fell 11.6 percent to NGN 675.83 billion, and earnings per share declined to NGN 16.41 from NGN 18.60. At the same time, total assets rose to NGN 34.39 trillion, customer deposits increased to NGN 27.11 trillion and loans and advances climbed to NGN 11.64 trillion.

Nigeria remained the largest contributor to pretax profit, while the rest of Africa increased its contribution. The results leave investors weighing stronger lending and deposit growth against tax pressure, higher operating costs and weaker trading performance.

Zenith Bank's business profile

Zenith Bank is a Nigerian banking group that provides financial services to retail, corporate and institutional customers. Its operations span Nigeria, other African markets and Europe, with lending, deposits, payments and related banking services at the centre of its model. The group is expanding its international contribution while Nigeria remains its largest profit market.

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