N208BN PROFIT AFTER TAX: ZENITH BANK POSTED

N208BN PROFIT AFTER TAX: ZENITH BANK POSTED

N208BN PROFIT AFTER TAX: ZENITH BANK POSTED
N208BN PROFIT AFTER TAX: ZENITH BANK POSTED

Zenith Bank Plc has posted a profit after tax of N208 billion for its 2019 financial year. The figure represents about 7.6 per cent increase compared to the N165 billion recorded in 2018. Chairman of Zenith Bank, Jim Ovia, told shareholders at its 29th  Annual General Meeting, in Abuja, yesterday, that the bank’s performance was exceptional, adding that it was an indication that the bank was a clear leader in the industry.

 

The bank’s gross earnings grew by five per cent from N538 billion in 2018 to N565 billion in 2019. Its total assets during the period under review grew by 9.7 per cent from N4.96 trillion to N5.44 trillion; while shareholders’ fund rose by 15.4 per cent from N675 billion to N779 billion. Shareholders went home with an N2.8 per share dividend.

Ovia said: “The year 2019 was a very challenging year for operators in the Nigerian banking industry because of several factors in the global and domestic environment.

‘’Notwithstanding the challenges, we were able to leverage the inherent opportunities within the business environment and record a performance which further attests to our resilience as a brand”. “The result is a manifestation of the remarkable financial health of the bank and the group.

The shareholders have every cause to be happy because of the bounty rewards we are giving to them. “On the whole, we are giving them a dividend of N 2.80 Kobo which translates to a dividend yield of over 14 per cent. And when you look at it vis-à-vis the current share price, you are looking at a dividend of 15 per cent per annum. “We have also assured the shareholders that no matter the challenges operating in the external environment, the bank will continue to be efficiently managed; we will create value and we won’t be reckless because we want to comply with a loan to deposit ratio.

”We will also continue to remain ethical and focused, so shareholders have reasons to be happy.” The Group Managing Director of Zenith Bank, Mr Ebenezer Onyeagu, described the N2.8 dividend as a “bounty” and that the shareholders were very pleased with the board and management of the organization.

He said: “The shareholders have every cause to be happy because of the bounty rewards we are giving to them. “On the whole, we are giving them dividends of N2.80 per share, which translate to a dividend yield of over 14 per cent. And when you look at it vis-à-vis the current share price, you are looking at a dividend of 15 per cent per annum.

“We have also assured the shareholders that no matter the challenges in the operating environment, the bank will continue to be efficiently managed, we will create value and we won’t be reckless because we want to comply with the regulation on the Loan/Deposit ratio. “We will also continue to remain ethical and focused, so shareholders have reasons to be happy.”

 

 

44 Comments


  1. I simply want to tell you that I am just new to blogging and site-building and certainly loved your web site. Likely I’m want to bookmark your site . You definitely come with excellent stories. Thanks a lot for sharing with us your web page.

  2. An interesting discussion deserves comment. I assume that you ought to write much more on this subject, it may not be a forbidden topic yet normally individuals are inadequate to talk on such topics. To the following. Thanks

  3. Can I simply say what an alleviation to find somebody who in fact understands what theyre speaking about online. You most definitely know just how to bring a problem to light as well as make it vital. Even more individuals need to read this and also recognize this side of the story. I cant think youre not much more prominent since you certainly have the present.

  4. Great tremendous things here. I am very glad to peer your post. Thanks a lot and i’m having a look ahead to touch you. Will you kindly drop me a e-mail?


  5. Nice blog right here! Additionally your site rather a lot up fast! What web host are you using? Can I get your affiliate link in your host? I want my web site loaded up as quickly as yours lol

  6. Hey there! I know this is kinda off topic but I was wondering if you knew where I could get a captcha plugin for my comment form? I’m using the same blog platform as yours and I’m having problems finding one? Thanks a lot!

  7. There are some intriguing times in this write-up but I don?t know if I see every one of them center to heart. There is some credibility yet I will hold opinion up until I check into it even more. Excellent short article, many thanks and we desire more! Included in FeedBurner also

  8. Very well written article. It will be beneficial to anybody who utilizes it, including yours truly :). Keep up the good work – looking forward to more posts.

  9. This site was… how do you say it? Relevant!! Finally I have found something which helped me. Kudos.


  10. Hey There. I found your blog using msn. This is a really well written article. I’ll make sure to bookmark it and come back to read more of your useful info. Thanks for the post. I will certainly comeback.

  11. Howdy! I just would like to offer you a big thumbs up for your excellent information you have got right here on this post. I’ll be returning to your site for more soon.

  12. I enjoy reading a post that can make men and women think. Also, thanks for permitting me to comment.

  13. Oh my goodness! Impressive article dude! Many thanks, However I am having difficulties with your RSS. I don’t understand why I can’t subscribe to it. Is there anybody else getting the same RSS issues? Anybody who knows the answer will you kindly respond? Thanks!!

  14. you have a terrific blog here! would certainly you like to make some invite posts on my blog?

  15. Way cool! Some very valid points! I appreciate you penning this post and the rest of the site is really good.

  16. I have been absent for some time, but now I remember why I used to love this website. Thanks, I’ll try and check back more often. How frequently you update your website?

  17. I simply couldn’t leave your web site before suggesting that I really loved the standard information a person supply to your guests? Is gonna be again frequently to investigate cross-check new posts

  18. May I just say what a relief to discover a person that actually knows what they are discussing online. You definitely realize how to bring a problem to light and make it important. More people have to look at this and understand this side of your story. I was surprised that you aren’t more popular given that you certainly have the gift.

  19. Great info. Lucky me I ran across your blog by accident (stumbleupon). I have book marked it for later.

  20. Greetings! Very helpful advice within this article! It’s the little changes that produce the most important changes. Many thanks for sharing!

  21. You made some really good points there. I checked on the web to find out more about the issue and found most people will go along with your views on this site.

  22. wonderful points altogether, you simply received a brand new reader. What would you recommend in regards to your publish that you simply made a few days in the past? Any positive?

  23. I’m extremely impressed with your writing skills as well as with the layout on your weblog. Is this a paid theme or did you customize it yourself? Anyway keep up the nice quality writing, it is rare to see a nice blog like this one these days..

  24. hello!,I really like your writing so so much! share we be in contact extra about your article on AOL? I require a specialist on this house to unravel my problem. May be that is you! Having a look forward to look you.

  25. I blog frequently and I genuinely thank you for your content. Your article has really peaked my interest. I’m going to bookmark your site and keep checking for new details about once per week. I opted in for your Feed too.

  26. It is actually a nice and useful piece of information. I¡¦m glad that you simply shared this helpful information with us. Please keep us up to date like this. Thanks for sharing.

  27. Thanks, I’ve recently been looking for information approximately this subject for a long time and yours is the greatest I’ve came upon till now. However, what about the bottom line? Are you sure concerning the source?

  28. Great article. It is rather unfortunate that over the last one decade, the travel industry has already been able to to deal with terrorism, SARS, tsunamis, bird flu, swine flu, and also the first ever true global economic collapse. Through it all the industry has really proven to be powerful, resilient as well as dynamic, finding new methods to deal with adversity. There are usually fresh issues and the possiblility to which the industry must once more adapt and respond.

    https://thespiritualcodes.com/members/articlesplr/activity/104637/

Leave a Reply

Your email address will not be published. Required fields are marked *