Zenith Bank Plc has released its unaudited group financial results for the first quarter ended March 31, 2026. The bank reported a pre-tax profit of N360.9 billion, largely driven by strong interest income and lower interest expenses.
According to the Q1 2026 financial statement filed with the Nigerian Exchange (NGX), the Group’s profit before tax rose by 2.87% year-on-year to N360.92 billion, compared to N350.82 billion recorded in Q1 2025. Profit after tax also increased modestly by 0.69% to N314.02 billion, reflecting stable earnings despite rising loan impairments and cost pressures.
The bank's performance was propelled by improved interest income, substantial growth in non-interest revenue, and reduced funding costs. Interest income saw a modest rise to N869.10 billion, supported by earnings from loans and investment securities.
A notable decline in interest expenses by 4.64% to N235.02 billion significantly boosted net interest income, which grew by 7.24% to N634.08 billion. Non-interest income emerged as a key driver, with net fee and commission income surging by 44.53% to N81.05 billion, indicating increased transaction volumes and enhanced digital banking activity.
Despite these gains, loan impairments increased by 16.53% to N57.57 billion, signaling a higher cost of risk environment. This moderated the growth in net interest income after impairment, which rose by 6.42% to N576.51 billion. Consequently, while pre-tax profit grew by 2.87%, post-tax profit recorded only marginal growth, suggesting that rising costs and impairment charges weighed on earnings expansion.
The Group’s total assets stood at N32.01 trillion, reflecting a slight decline of 1.24% year-on-year. Total liabilities decreased by 4.04% to N26.85 trillion, driven mainly by a reduction in borrowings. Loans and advances to customers increased by 13.25% to N11.38 trillion, highlighting continued growth in lending activities.
Customer deposits rose by 7.87% to N24.47 trillion, reinforcing the bank’s strong liquidity position and sustained customer confidence. Shareholders' equity increased significantly by 16.32% to N5.17 trillion, reflecting strong internal capital generation and improved retained earnings.
Zenith Bank's stock has experienced a rally since April 14, reaching a high of N135.90 on April 24 before its price was adjusted for a N8.75 per share final dividend. The stock closed at N128.50 per share on Thursday, April 30, 2026, marking a 2.4% gain over its previous closing price. Zenith began the year at N61.80 and has since gained 108% in valuation, ranking it 20th on the NGX for year-to-date performance.
Zenith Bank is currently the ninth most valuable stock on the NGX with a market capitalization of N5.28 trillion, representing approximately 3.39% of the equity market value. In its audited financial results for the year ended December 31, 2025, Zenith Bank posted a pre-tax profit of N1.26 trillion, a 4.78% decline from the previous year. For FY2025, the group declared a final dividend of N8.75 per share, bringing the total FY2025 dividend to N10.00 per share, including the N1.25 interim payout.
