Nigeria News

Nigeria’s Zenith Bank 9-mth pre-tax profit up 42 pct

zOct 22 (Reuters) – Nigeria’s Zenith Bank said on Monday profit before tax in the first nine months to September rose 41.59 percent to 75.22 billion naira ($478.04 million), from 53.13 billion naira in the same period last year.

Gross earnings rose to 229.16 billion naira, compared with 183.06 billion naira a year ago, Zenith bank said in a statement.

“Given the available micro-economic indices we are very confident that we will be able to sustain this strong performance and growth trend into the fourth quarter of the year,” Zenith Bank’s chief executive Godwin Emefiele said.

Zenith stock was trading at 18.36 naira on the Nigeria exchange, up 0.88 percent over the previous day’s closing price. ($1 = 157.35 naira)

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