POLITICSNIGERIA.COM

Zenith Bank Plc has announced its unaudited results for the period ended 30 September, 2019, with numbers that clearly demonstrates its market dominance and leadership.

From the unaudited account which was presented to the Nigerian Stock Exchange (NSE), gross earnings increased by 4% percent from N474,607 billion recorded in Q3 2018 to N491,268 billion in Q3 2019. Profit Before Tax (PBT) grew by 5% from N167,307 billion in Q3 2018 to a record N176,183 billion in Q3 2019. Also, profit after tax rose by 5% from N144,179 billion in Q3 2018 to N150,723 billion in Q3 2019.

Despite a challenging macro-economic backdrop, the Group recorded a significant growth in Non-Interest Income, expanding by 22% from N128.7 billion in Q3 2018 to N156.8 billion for the current period. Our platforms and channels have been the enablers of this growth, with fees from electronic products doubling to N35.3 billion from N17.6 billion in Q3 2018.

Our cost optimization strategies and aggressive retail banking drive are yielding the desired effects as cost-to-income ratio declined from 51.2% in Q3 2018 to 50.1% in Q3 2019 with Earnings Per Share (EPS) growing by 5% from N4.58 in Q3 2018 to N4.80 in Q3 2019.

Our retail and corporate banking franchises continued its momentum with customers’ deposits growing by 7% to N3.95 trillion from N3.69 trillion recorded as at December 2018, a reflection of increasing share of the industry’s deposits and customers’ confidence in the Zenith brand. These deposit acquisitions have directly contributed to our cost of funds improving from 3.3% in Q3 2018 to 2.95% as at Q3 2019.

We have continued to deploy capital to creating viable risk assets with gross loans and advances growing by 9% from N2.02 trillion as at December 2018 to N2.2 trillion as at Q3 2019 across both the retail and corporate segments. Our focus remains the search for bankable lending opportunities to ensure the attainment of the minimum regulatory loan-to-deposit ratio (LDR) of 65% by December 31, 2019 without compromising our prudence.

Our robust risk management framework has ensured that non-performing loans (NPL) ratio declined from 4.98% in December 2018 to 4.95% in the current period. Our commitment to maintaining a shock-proof balance sheet remains with liquidity and capital adequacy ratios at 63.8% and 23.8% respectively, both above regulatory thresholds.

In this final quarter of the year, we will sustain our competitiveness and share of market in the corporate segment and build upon our digital foundations to reinforce our retail banking initiatives.

As a testament to this superlative performance and in recognition of its track record of excellent performance, the bank was recently named as the Bank of the Year and the Best Bank in Retail Banking at the 2019 BusinessDay Banks’ and Other Financial Institutions Awards (BAFI Awards).

https://politicsnigeria.com/zenith-bank-re-affirms-market-dominance-and-leadership-with-q3-2019-results/

but pays grad trainees 101k on 3 years contract. madness

The financial report implies that Zenith Bank is not among the 7 banks that failed the stress test.Zenith Bank customers plz go and sleep with both eyes closed!

That's why they're pushing USSD charge to customers to optimize profit and minimize cost.

Banks. One of the legit fraud avenues.

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See my signature for the list of visa free countries for Nigerians.

Well done my bank!!



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Tina26:
but pays grad trainees 110k on 3 years contract. madness

3 years? Graduate trainee is supposed to be a permanent contract and gateway to a career in banking.

Ok

Anniie4u:


3 years? Graduate trainee is supposed to be a permanent contract and gateway to a career in banking.

Bank job dey permanent?

Anniie4u:


3 years? Graduate trainee is supposed to be a permanent contract and gateway to a career in banking.

For those new generation banks, it is a delibrates attempts not to promote them beyond the trainee, they gives 3years contract and after 3 or so years, only few will be promoted and new trainee will be recruited. It is attempts to keeps the wages at Rock Bottom slave level while they generates huge profit.
For callous organisation, it is very cheap that way, it is better to have trainee with wage of about 1.5m per anum than to have experience at 4/5million per anum, the cost of training them every 3/4 years is nothing compare to the cost of their wages if they are promoted.

all this profits yet with contract nigerian staffs with no pension.can they try this with their London subsidiary?

Oh

I still prefer FirstBank

Tina26:
but pays grad trainees 110k on 3 years contract. madness

Are they forcing u to work with them? Go and open ur own bank now. And give ur employees better pay.

Good

Kay512:

Bank job dey permanent?

worst in my own opinion.

We can see the favouritism they gain through EMEFIELE as CBN governor

I so much respect Zenith Bank, Their ATM machine services is highly functional, Come to Oshogbo and experience it. Br

Bank with less customer but Big men.....


#Zenith

Tina26:
but pays grad trainees 110k on 3 years contract. madness

madness

You guys make 143 billion profit in 3 months...
Okay ooo.
How much can that zenith bank gate man in Ekiti save for a year?
How much can your graduate trainee have left after a year of rigorous work?
How much can the Cashier/teller in Enugun save after transportation and feeding?
Many of this bank staffs lives from hands to mouth.
Yet the bank is making Billions and billions on a daily basis...
Someone will say should they share the money?
Yes,The staffs should be well paid.
Zenith Bank is a collective effort of thousands of staffs,all of them building a brand for one person..JIM OVIA.
After they spent 20 years building your brand,what will they have build for themselves,little or nothing...Because you pay them badly...

Barclays Bank pays their top managers £5m per annum.
Microsoft have over 10 000 staffs that are millionaires..


Zenith bank is smaller to those organizations ..but can sure do better by putting the staffs well being as top priority... not only the Core staffs...but everyone contributing to the growth of the company...
As minor as the gate gateman in the bank, without him the daily Operation won't run fine.
While the head of operations might be feeling like James Bond... if Nepa take light what can he do...


Zenith bank is one of the biggest brand in Nigeria ..the bank should think about building their staffs and they will see their company growth climbing the ladder...


Lastly I duff my hat for Jim Ovia...that man is a visionary.

To you reading this...work ooo,work ooo work ooo...
Lastly to self...keep trying...

Please visit www.a1list.com.ng to buy and sell now.

Emefiele and Udom Gabriel Emmanuel factor

Ok

Chukazu:
We can see the favouritism they gain through EMEFIELE as CBN governor

How exactly can u see it What are u seeing?

Respect the elephant!

Zenith bank is really at the peak of the financial sector in Nigeria but their staff welfare package is poor.




Genius J

Badmod:
You guys make 143 billion profit in 3 months...
Okay ooo.
How much can that zenith bank gate man in Ekiti save for a year?
How much can your graduate trainee have left after a year of rigorous work?
How much can the Cashier/teller in Enugun save after transportation and feeding?
Many of this bank staffs lives from hands to mouth.
Yet the bank is making Billions and billions on a daily basis...
Someone will say should they share the money?
Yes,The staffs should be well paid.
Zenith Bank is a collective effort of thousands of staffs,all of them building a brand for one person..JIM OVIA.
After they spent 20 years building your brand,what will they have build for themselves,little or nothing...Because you pay them badly...

Barclays Bank pays their top managers £5m per annum.
Microsoft have over 10 000 staffs that are millionaires..


Zenith bank is smaller to those organizations ..but can sure do better by putting the staffs well being as top priority... not only the Core staffs...but everyone contributing to the growth of the company...
As minor as the gate gateman in the bank, without him the daily Operation won't run fine.
While the head of operations might be feeling like James Bond... if Nepa take light what can he do...


Zenith bank is one of the biggest brand in Nigeria ..the bank should think about building their staffs and they will see their company growth climbing the ladder...


Lastly I duff my hat for Jim Ovia...that man is a visionary.

To you reading this...work ooo,work ooo work ooo...
Lastly to self...keep trying...

Please visit www.a1list.com.ng to buy and sell now.

Good writeup. Well done.

Its 101 not 110.

Tina26:
but pays grad trainees 110k on 3 years contract. madness

Tina26:
but pays grad trainees 110k on 3 years contract. madness

They are even trying, some banks pay 35k or less

Buy your Farmland now in ogbomoso Oyo state

A good bank with a poor salary scale structure. Looks like these profits are made possible through the trimmed salary