Zenith Bank Plc reported higher pretax profit but lower after-tax earnings for the first nine months of 2026, a divergence reflected in increased income tax expense and a decline in earnings per share, according to the bank’s unaudited results.
Consolidated profit before tax was ₦928.797 billion for the period ended Sept. 30, up from ₦917.412 billion a year earlier. Profit after tax fell to ₦675.826 billion from ₦764.204 billion. Income tax expense rose to ₦252.971 billion from ₦153.208 billion, and earnings per share declined to ₦16.41 from ₦18.60.
The results showed lower gross earnings but a much smaller impairment charge. Gross earnings totaled ₦2.865 trillion, compared with ₦3.372 trillion in the corresponding 2025 period. Impairment charges were ₦230.770 billion, down from ₦782.763 billion.
Net interest income was nearly unchanged at ₦1.928 trillion, versus ₦1.927 trillion a year earlier. Net fee and commission income increased to ₦256.849 billion from ₦202.943 billion. Trading income moved from a ₦277.654 billion gain to a ₦229.194 billion loss.
Nigeria remained the largest geographic contributor to pretax profit, at ₦680.539 billion, down from ₦772.868 billion. Pretax profit from the Rest of Africa rose to ₦195.361 billion from ₦168.257 billion, while Europe contributed ₦55.531 billion, compared with ₦72.388 billion in the prior-year period.
The balance sheet expanded year over year. At Sept. 30, total assets were ₦34.387 trillion, up from ₦31.176 trillion a year earlier. Customer deposits reached ₦27.115 trillion, compared with ₦23.688 trillion, and loans and advances totaled ₦11.637 trillion, up from ₦9.371 trillion.
The bank’s board approved the unaudited statements on Oct. 29.
