Business
‘Our balance sheet remains robust,’ Zenith Bank’s Umeoji hails N2.6trn gross earnings in H1
Zenith Bank Plc has expressed confidence in its growth trajectory after posting a strong half-year performance for the period ended June 2025, with Group Managing Director/Chief Executive Officer, Dame (Dr.) Adaora Umeoji, OON, assuring shareholders that the bank remains firmly positioned to deliver exceptional returns.
Commenting on the results, Umeoji said the Bank’s performance reaffirms the creativity and innovation of its workforce despite headwinds in the operating environment.
“Despite the huge provisioning requirements as the industry exits the CBN forbearance regime, we’ve seen substantial improvement in our asset quality. Our balance sheet remains robust with adequate capital buffers, positioning us well to seize opportunities across our key markets,” she stated.
She added that the Bank expects to accelerate its growth momentum in the second half of 2025 following the successful exit from the forbearance regime. According to her, shareholders can look forward to continued value creation and the prospect of a “quantum” year-end dividend.
“Our shareholders can look forward to continued value creation as we leverage emerging opportunities and maintain our strategic growth with strong corporate governance culture,” she assured.
Looking beyond the current financial year, Umeoji projected sustained growth, anchored on innovation, digital transformation, and solutions tailored to clients’ evolving needs. “We’re on a solid growth path that we expect to maintain through the rest of 2025 and into 2026. With improving market conditions, we’re well placed to sustain this momentum whilst delivering exceptional value to all our stakeholders,” she said.
The Bank’s H1 2025 financial results underscore the confidence. Profit before tax rose to N625.629 billion, while profit after tax hit N532 billion. Earnings per share stood at N12.95. Gross earnings climbed 20% year-on-year to N2.5 trillion, driven largely by a 60% surge in interest income to N1.8 trillion. Net interest income nearly doubled, rising 90% to N1.4 trillion, with non-interest income contributing N613 billion.
Reflecting this strong performance, the Board approved an interim dividend of N1.25 per share, up 25% from the N1.00 declared in the first half of 2024, maintaining Zenith Bank’s reputation as a leading dividend-paying institution.
Balance sheet growth remained solid, with total assets at N31 trillion in June 2025, up from N30 trillion in December 2024. Deposits increased by 7% to N23 trillion, while loans stood at N10.2 trillion, reflecting the Bank’s prudent risk management. Asset quality strengthened as the non-performing loan ratio fell to 3.1% from 4.7% in December 2024.
Zenith Bank also delivered strong returns, with return on average equity (ROAE) at 24.8% and return on average assets (ROAA) at 3.5%. The cost-to-income ratio stood at 48.2%, impacted by regulatory provisioning and inflationary pressures. Capital adequacy at 26% and liquidity ratio at 69% remained well above regulatory thresholds, further underscoring the Bank’s resilience.
The Bank emphasised that its performance aligns with global sustainability objectives, as it continues to integrate environmental, social and governance (ESG) principles across its operations. Through initiatives targeting SMEs and women entrepreneurs, and investments in cleaner energy solutions, Zenith Bank reinforced its role as a responsible financial institution creating long-term value for stakeholders.
