Business
Zenith Bank generates N269.99bn for Q1 2023
Zenith Bank generated N269.99 billion in revenue in the first quarter of 2023, growing the turnover by N40.9 per cent year-on-year.
This was disclosed in the company’s Consolidated and Separate Interim Financial Statements for the period ended March 31, 2023.
In the financial record, Zenith Bank reported that its turnover for the period in review surpassed the N191.52 billion earnings grossed in Q1 last year.
Zenith Bank also added that the company’s Net Interest Income rose by N20.25 billion to N120.78 billion in the first quarter of this year.
This is above the N100.53 billion posted between January to March 2022. This indicates a 20.14 per cent year-on-year growth.
Similarly, the financial institution’s profit after tax increased by 13.42 per cent or N7.81 billion, as Zenith Bank reported N66.01 billion in Q1 2023, in contrast to the N58.19 billion net profit posted during the corresponding period in Q1 last year.
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