News Column

Zenith Bank Nets N47.445b Q2 Profit, As NSE Index Down 0.28 Percent

July 23, 2014

Bamidele Ogunwusi

Zenith Bank Plc on Wednesday said it posted a profit after tax of N47.45 billion in its second quarter financial result up from N45.419 billion recorded in the corresponding period of 2013, while its profit before tax for the same period rose to N57.859 billion from N52.090 billion it recorded in 2013.

Gross earnings rose to N184.434 billion from N171.024 billion; loans and advances which was N1.066 trillion in 2013, rose significant to N1.385 trillion; due from other banks rose to N501.686 billion from N346.613 billion; customers' deposit improved from the N2 trillion recorded in 2013 to N2.305 trillion; while earnings per share rose to 151 kobo from144 kobo.

Meanwhile; the hold of profit takers on trading activities on the floor of the Nigerian bourse continued on yesterday when both indicators closed in the red. Equities capitalisation closed lower at N14.048 trillion after it depreciated by N39.829 billion as against N14.087 trillion it recorded on Tuesday; while the All-Share Index dropped 120.62 basis points or 0.28 percent to close at 42, 544.33 points as against 42, 664.95 points recorded on Tuesday.

However, stockbrokers crossed a total of 273.314 million shares valued at N3.076 billion in 4,761 transactions as against 430.121 million shares valued at N4.019 billion in 6,322 transactions recorded on Tuesday with the financial services sector accounting for a total of 122.700 million shares valued at N960.940 million in 2,050 deals as against 189.265 million shares valued at N1.637 billion in 2,759 deals recorded on Tuesday.

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Source: AllAfrica

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