Zenith Bank Profit Rises to ₦917.4bn as Earnings Hit ₦3.3trn

Zenith Bank Plc has reported a remarkable financial performance for the nine months ending September 30, 2025, recording a profit after tax (PAT) of ₦917.4 billion, a 287 percent increase compared to ₦236.8 billion posted in the corresponding period of 2024. The tier-one lender’s unaudited financial statements filed with the Nigerian Exchange Limited (NGX) show that its gross earnings soared to ₦3.3 trillion, representing a 220 percent growth year-on-year, driven by robust interest income, foreign exchange gains, and improved non-interest revenue.

The performance consolidates Zenith Bank’s position as one of Nigeria’s most profitable financial institutions, reflecting the success of its strategic focus on digital innovation, risk management, and customer-centric operations. According to the bank’s Chief Executive Officer, Dr. Ebenezer Onyeagwu, the impressive result underscores the resilience of its business model amid macroeconomic challenges, volatile exchange rates, and rising inflation.

“Our strong performance in the first nine months of 2025 reflects our unwavering commitment to operational efficiency, innovation, and customer satisfaction,” Onyeagwu said. “Despite the challenging operating environment, we have continued to deliver superior returns to our shareholders while driving sustainable growth across all business segments.”

The report shows that interest income surged by 175 percent to ₦2.2 trillion, up from ₦800.6 billion recorded in the same period of 2024. This was largely driven by increased yields on investment securities and loans to customers following the Central Bank of Nigeria’s (CBN) tight monetary policy stance. Non-interest income also grew significantly by 258 percent to ₦1.1 trillion, primarily boosted by trading gains and revaluation of foreign currency positions.

Similarly, interest expense rose to ₦690.4 billion, compared to ₦270.1 billion in 2024, reflecting the higher cost of deposits and borrowings in the high-interest-rate environment. However, the bank maintained an impressive net interest margin of 8.9 percent, well above the industry average.

Zenith Bank’s total assets grew by 102 percent to ₦27.5 trillion as of September 2025, from ₦13.6 trillion in December 2024, supported by increased customer deposits, which climbed to ₦19.8 trillion, representing a 95 percent rise year-to-date. The bank’s shareholders’ funds also strengthened to ₦2.7 trillion, compared to ₦1.2 trillion in 2024, reflecting retained earnings and higher fair value reserves.

According to the financial report, the bank’s cost-to-income ratio improved from 53 percent in 2024 to 42 percent in 2025, driven by efficiency gains from digital transformation and cost optimization strategies. The bank also maintained a non-performing loan (NPL) ratio of 3.9 percent, well below the regulatory threshold of 5 percent, demonstrating its prudent risk management approach.

The CEO further noted that the bank’s digital channels continue to contribute significantly to earnings, with electronic banking income rising to ₦284.5 billion, a 160 percent increase year-on-year. “Our investments in technology are paying off. The adoption of digital channels has not only improved convenience for customers but also enhanced operational efficiency and revenue generation,” Onyeagwu stated.

Analysts have commended Zenith Bank’s strong performance, noting that it demonstrates the resilience of Nigeria’s banking sector despite economic headwinds. Financial expert Mr. David Okon, speaking on the development, said: “Zenith Bank’s growth trajectory reinforces its status as a market leader. Its focus on innovation, risk diversification, and corporate governance has positioned it for sustained profitability even in a turbulent economy.”

The bank’s foreign currency revaluation gains, following the liberalization of the foreign exchange market by the CBN, also played a pivotal role in boosting its bottom line. The report shows that revaluation gains amounted to ₦620.3 billion, compared to ₦158.4 billion in the same period last year, reflecting the impact of the naira’s adjustment against the U.S. dollar.

Zenith Bank’s management expressed optimism about the remaining part of the year, emphasizing its commitment to supporting Nigeria’s economic recovery through increased financing for productive sectors such as manufacturing, infrastructure, and agriculture. The CEO reiterated that the bank would continue to align its operations with the Federal Government’s reform agenda aimed at stabilizing the economy and attracting foreign investment.

In line with its sustainability goals, the bank has also deepened investments in green finance, renewable energy, and corporate social responsibility (CSR) initiatives, particularly in education and entrepreneurship development. “Our long-term strategy is not only about profitability but also about creating shared value for our stakeholders and contributing to national development,” Onyeagwu said.

The bank’s strong financial position has also bolstered investor confidence, reflected in its steady share price performance on the NGX. Market analysts predict that Zenith Bank may declare a record final dividend for the 2025 financial year, given its robust earnings and liquidity position.

As Zenith Bank continues to expand its regional footprint across Africa, its management reaffirmed plans to deepen partnerships, enhance digital integration, and leverage fintech collaborations to deliver innovative financial solutions. The bank is also preparing for a leadership transition, with Onyeagwu set to retire in mid-2026, as part of a smooth succession plan to ensure continuity and stability.

With a solid balance sheet, strong governance framework, and diversified income streams, Zenith Bank remains one of Nigeria’s best-performing financial institutions. The bank’s latest results affirm its ability to thrive in a rapidly changing environment while maintaining its commitment to excellence, innovation, and sustainable growth.