Q3 2025: Zenith Bank’s gross earning surge 16%, PBT rises

by · The Eagle Online

Zenith Bank Plc has recorded a remarkable 16 percent year-on-year growth in gross earnings from N2.9 trillion recorded in Q3 2024 to N3.4 trillion in Q3 2025, with its Profit Before Tax (PBT) also rising astronomically.

Zenith Bank made the revelations in its unaudited financial results for the nine months ended September 30, 2025 released on Thursday. 

The Group’s performance continues to demonstrate resilience, strong momentum, disciplined execution, and an ability to deliver long-term shareholder value in spite of challenging macroeconomic environment.

According to the financial results presented to the Nigerian Exchange (NGX), the growth in gross earnings was driven by a sustained growth in interest income, which grew by 41 percent year-on-year to N2.7 trillion. 

The growth in interest income was supported by a high-yield rate environment and an expansion in the Bank’s investment portfolio. 

Despite the increase in interest expense by 22 percent to N814 billion on the back of a tightening monetary cycle and a growth in the Bank’s funding base, it was able to achieve a healthy Net Interest Margin (NIM) of 12 percent as against 10 percent in September 2024. 

Non-interest income declined by 38 percent to N535 billion, underpinned by a 60 percent decline in trading gains.

Profitability remained strong, with PBT at N917 billion as against N1.00 trillion reported in September 2024. 

Profit After Tax also declined by 8 percent to N764 billion and Earnings Per Share (EPS) came in at N18.60 as against N26.34 in September 2024, as the Bank took bold measures to improve the quality of its loan portfolio.

The Bank’s total assets grew by 4 percent from N30 trillion in December 2024 to N31 trillion as at September 2025. 

This was largely supported by customer deposits, which rose by 8 percent to N23.7 trillion within the same period. 

Gross loans declined by 9 percent to N10 trillion as at September 2025, while Non-Performing Loan (NPL) ratio improved to 3 percent due to the write-off of non-performing loans.

Return on Average Equity (ROAE) and Return on Average Assets (ROAA) stood at 23.3 percent and 3.3 percent respectively. 

Cost of funds increased to 4.5 percent, underscored by the broader elevated interest rate environment. 

The Group’s cost of risk stood at 10 percent while cost-to-income ratio rose to 45 percent.

Coverage ratio and liquidity ratio remain solid and well within regulatory limits at 211.1 percent and 53 percent respectively. 

This highlights the Bank’s strong capital position and liquidity profile as well as its ability to fund strategic growth opportunities. 

It also reflects its unwavering commitment to a prudent risk management, compliance, and corporate governance culture. 

Commenting on the results, the Group Managing Director/CEO, Dame Adaora Umeoji, said: “The Bank’s robust performance is an attestation to the resilience of the Zenith brand, result-driven strategy, and the adaptability of our people in an evolving operating environment. 

“We have fortified our capital base, reset our asset quality, and are well positioned for sustainable and profitable growth.”

Looking to Q4 2025, Dr. Umeoji reinforced her optimistic outlook: “This result confirms the resilience of both our business model and our people. 

“We’re on a solid growth path that we expect to maintain through the remainder of the year. 

“Our focus on innovation, digital transformation, and developing solutions that address our clients’ changing needs positions us to capitalise on emerging opportunities whilst maintaining our disciplined approach to growth.” 

She assured shareholders that the robust performance, combined with improved asset quality and the Bank’s strong capital base, positions Zenith Bank to deliver exceptional returns with expectations of sustained value creation. 

Umeoji added: “We’re well placed to sustain this momentum whilst maintaining responsible leadership in the Nigerian banking industry and delivering exceptional value to all our stakeholders.”

The Bank’s track record of excellent performance has continued to earn the brand numerous awards, including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the sixteenth consecutive year in the 2025 Top 1000 World Banks Ranking, published by The Banker and Nigeria’s Best Bank at the Euromoney Awards for Excellence 2025. 

The Bank was also awarded Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020 to 2022, 2024, and 2025 in the Global Finance World’s Best Banks Awards; Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; and was listed in the World Finance Top 100 Global Companies in 2023.

Further recognitions include Best Commercial Bank, Nigeria for five consecutive years from 2021 to 2025 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in the International Banker 2023 and 2024 Banking Awards. 

Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards for four consecutive years from 2022 to 2025 and Best in Corporate Governance Financial Services Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.

The Bank’s commitment to excellence led to it being also being named the Most Valuable Banking Brand in Nigeria in The Banker’s Top 500 Banking Brands for 2020 and 2021; Bank of the Year 2023 to 2025 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards; and Retail Bank of the Year for three consecutive years from 2020 to 2022 and 2024 to 2025. 

The Bank also received the accolades of Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria in the International Banker 2022 Banking Awards; Bank of the Year 2024 by ThisDay Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics. 

The Bank’s Hybrid Offer was also adjudged the Rights Issue/ Public Offer of the Year at the Nairametrics Capital Market Choice Awards 2025.

Zenith Bank has also bagged several non-financial awards, including Most Responsible Organisation in Africa, Best Company in Transparency and Reporting and Best Company in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024.

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