Zenith Bank Profit Shrinks by 19%, Declares Interim Dividend

Zenith Bank Profit Shrinks by 19%, Declares Interim Dividend

Zenith Bank Plc’s profit after tax shrank by more than 19% year on year in the first half of the financial year 2026, its earnings scorecard released to the Nigerian Exchange revealed.

The bank reported that after tax profit fell to N430.762 billion at the end of June 30, down from N532.180 billion in the equivalent period in 2025.

The underwhelming bottom-line performance reduced the bank’s earnings per share by 19% to N10.48 in the first half of 2026, down from N12.95 in H1-2025.

According to details from the audited financials, net interest income declined to N1.254 trillion, down by more than 7% year on year from N1.354 trillion in half year 2025 report.

Analysts said this reflected a moderate decline in the bank’s interest income and related expenses during the reporting period, despite growing loans and advances to customers.

In its result, Zenith Bank said net income from fees and commissions improved to N178.774 billion, up from N128.63 billion in the comparable period.

However, the bank reported a sharp decline in trading gains, which turned negative (N92.224 billion) from a strong figure totalling N467.796 billion in H1-2025.

The bank’s trading loss in H1-2026 was driven by a loss in its ‘other trading book’, a sharp decline in bonds carried at fair value through profit or loss, and a moderation in interest income from bond trading during the period.

Zenith Bank disclosed that the loss/gain on other trading books includes a N284.90 billion realised loss on foreign currency trading gains for the Group and Bank, respectively, reversing a N268.49 billion FX gain in H1-2025.

Also included in Loss/Gain on other trading books is an unrealised gain on derivatives of N110.6 billion for the Group and N91.6 billion for the Bank.  Its personnel expense growth impacts the bottom line, rising by less than 3% to N138.451 billion in H1-2026 from N134.568 billion.

The bank’s operating expenses also edged higher by 9% year on year to N451.327 billion from N411.287 billion. Zenith Bank’s pre-tax profit increased by about 2% year on year to N637.603 billion in the first half of 2026, from N626.629 billion. 

All-in profit after tax consideration plunged by 19.07% to N430.762 billion from N532.180 billion 12 months earlier.  The Board of Directors proposed an interim dividend of N1.50 per share, up from N1.25 per share as at 30 June 2026. Lagos Set to Open N200 Billion State Bond for Subscriptions