Zenith Bank Plc has announced a 16 per cent growth in its gross earnings for the first nine months of 2025, reaching ₦3.37 trillion compared to ₦2.9 trillion recorded during the same period in 2024.
The performance was disclosed in the lender’s unaudited financial statements for the third quarter ended 30 September 2025, filed with the Nigerian Exchange Limited (NGX).
Zenith Bank, one of Nigeria’s leading financial institutions with operations in several countries, said the growth was mainly driven by higher interest income and an expansion in its investment portfolio.
According to the financial report, interest income rose by 41 per cent year-on-year to ₦2.7 trillion, supported by a high-yield rate environment and a steady rise in income from investments and loans. The bank said the increase reflected its strategic positioning to benefit from Nigeria’s monetary tightening cycle and its efforts to grow quality risk assets.
At the same time, interest expenses increased by 22 per cent to ₦814 billion due to higher funding costs arising from a broader deposit base and higher rates in the interbank market. Despite this, Zenith Bank maintained a healthy Net Interest Margin (NIM) of 12 per cent, compared to 10 per cent recorded in September 2024, showing efficient cost and risk management.
However, the report noted that non-interest income declined by 38 per cent to ₦535 billion, largely due to a 60 per cent drop in trading gains during the period under review. The bank attributed this fall to market volatility and adjustments to its trading strategies in response to changing economic conditions.
Zenith Bank’s profit before tax (PBT) stood at ₦917 billion, slightly lower than the ₦1 trillion recorded in the corresponding period of 2024. Similarly, profit after tax (PAT) dropped by eight per cent to ₦764 billion, while Earnings Per Share (EPS) declined to ₦18.60, compared to ₦26.34 in September 2024.
The decline, according to the bank, reflected its deliberate decision to strengthen its balance sheet and improve loan quality through strategic write-offs and tighter credit risk management.
On the balance sheet side, total assets grew by four per cent, rising from ₦30 trillion in December 2024 to ₦31 trillion as of September 2025. The growth was supported by customer deposits, which increased by eight per cent to ₦23.7 trillion, showing continued confidence from depositors and clients.
Meanwhile, gross loans declined by nine per cent to ₦10 trillion, following deliberate efforts to clean up the loan book. The bank’s Non-Performing Loan (NPL) ratio improved to three per cent, reflecting the successful execution of its asset quality strategy.
Commenting on the performance, the Group Managing Director and Chief Executive Officer of Zenith Bank Plc, Dr Adaora Umeoji, said the results highlight the resilience of the Zenith brand and its ability to deliver value despite a challenging macroeconomic environment.
“The bank’s robust performance is an attestation to the resilience of the Zenith brand, our result-driven strategy, and the adaptability of our people in an evolving operating environment,” Umeoji said.
She added that the bank has “fortified its capital base, reset its asset quality, and is well-positioned for sustainable and profitable growth.”
Speaking on the outlook for the remainder of 2025, Umeoji noted that the bank expects to sustain its growth momentum through innovation, digital transformation, and a continued focus on customer-centric products.
“This result confirms the resilience of both our business model and our people. We’re on a solid growth path that we expect to maintain through the remainder of the year. Our focus on innovation, digital transformation, and developing solutions that address our clients’ changing needs positions us to capitalise on emerging opportunities whilst maintaining our disciplined approach to growth,” she stated.
She assured shareholders that the bank remains dedicated to creating long-term value, backed by strong capital buffers and an improving asset profile.
“We’re well placed to sustain this momentum whilst maintaining responsible leadership in the Nigerian banking industry and delivering exceptional value to all our stakeholders,” Umeoji added.
Zenith Bank’s strong earnings come amid the ongoing recapitalisation directive by the Central Bank of Nigeria (CBN), which requires national commercial banks to raise their minimum capital base to ₦200 billion by March 2026. The lender’s healthy balance sheet and solid profitability put it in a strong position to meet the new regulatory target and continue expanding its operations across Africa and beyond.
