Earnings Update: Zenith Bank Q1 2025 – Strong Start to the Year Anchored by Robust Interest Income.

Event

Zenith Bank Plc (“the Group”) began the 2025 financial year on a strong footing, extending the momentum built in FY 2024. The Group reported gross earnings of N949.86bn in Q1 2025, representing a 22% year-on-year uptick from N780.62bn in Q1 2024. This impressive growth was primarily driven by a significant surge in interest income, which helped offset the steep decline in non-interest income.

Profit before tax grew modestly by 10% to N350.82bn, constrained by the significant decline in trading income and rising operating costs. However, net profit advanced by 21% to N311.38bn from N258.34bn in Q1 2024, supported by a 37% decline in tax expenses to N38.99bn.

Outlook

Looking ahead to the remainder of 2025, we expect the strong core performance to be sustained. The Group is well-positioned to continue leveraging the momentum from Q1, underpinned by a resilient balance sheet, solid asset growth, and a favourable interest rate environment. We anticipate continued strength in net interest income, driven by sustained loan growth and attractive yields on investment securities.

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