Zenith Bank Plc grew its earnings by 16 per cent in the third quarter, from N2.9 trillion recorded in Q3 2024 to N3.4 trillion in Q3 2025.

The Group’s performance continues to demonstrate resilience, strong momentum, disciplined execution and an ability to deliver long-term shareholder value despite the challenging macroeconomic environment, the bank said in a statement.

According to the financial results presented to the Nigerian Exchange (NGX) last week, the growth in gross earnings was driven by sustained growth in interest income, which grew by 41 per cent 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 per cent to N814 billion on the back of a tightening monetary cycle and a growth in its funding base, the bank was able to achieve a healthy net interest margin (NIM) of 12 per cent, as against 10 per cent in September 2024.

Non-interest income declined by 38 per cent to N535 billion, underpinned by a 60 per cent decline in trading gains, the report said. Profitability remained strong, with profit before tax (PBT) at N917 billion as against N1 trillion reported in September 2024.

Profit after tax (PAT) also declined by eight per cent 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 four per cent from N30 trillion in December 2024 to N31 trillion as at September 2025. This was largely supported by customer deposits, which rose by eight per cent to N23.7 trillion within the same period.

Gross loans declined by nine per cent to N10 trillion as of September 2025, while the non-performing loan (NPL) ratio improved to three per cent due to the write-off of non-performing loans.

Return on average equity (ROAE) and return on average assets (ROAA) stood at 23.3 per cent and 3.3 per cent, respectively. Cost of funds increased to 4.5 per cent, underscored by the broader elevated interest rate environment. The Group’s cost of risk stood at 10 per cent while the cost-to-income ratio rose to 45 per cent.

Coverage ratio and liquidity ratio remain solid and well within regulatory limits at 211.1 per cent and 53 per cent, 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, Dr Adaora Umeoji, said, “The bank’s robust performance is an attestation to the resilience of the Zenith brand, results-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.”