Zenith Bank Plc has reported a profit after tax of ₦314.02 billion for the first quarter ended March 31, 2026, reflecting continued earnings resilience as gross earnings surpassed the ₦1 trillion mark.
The lender’s unaudited financial results released on Thursday showed gross earnings rose by 6.1% year-on-year to ₦1.008 trillion, up from ₦949.86 billion recorded in the corresponding period of 2025.
Interest and similar income increased to ₦869.10 billion from ₦837.64 billion, while net interest income climbed 7.3% to ₦634.08 billion, supported by growth in interest-earning assets and improved yields.
Profit before tax rose by 2.9% to ₦360.92 billion, compared with ₦350.82 billion in Q1 2025. Profit after tax stood at ₦314.02 billion, slightly higher than the ₦311.83 billion posted a year earlier.
The bank’s results also showed net interest income after impairment charges increased to ₦576.51 billion from ₦541.81 billion in the same period last year.
However, impairment charges rose to ₦57.57 billion from ₦49.38 billion, indicating a more cautious provisioning stance amid prevailing macroeconomic pressures in Nigeria.
On non-interest income, net fee and commission income jumped 44.6% to ₦81.05 billion, while trading operations recorded a loss of ₦24.79 billion, compared with a gain of ₦22.17 billion in the first quarter of 2025. Other operating income rose sharply to ₦50.19 billion.
Operating expenses also increased during the quarter, with personnel costs rising to ₦69.62 billion and other operating expenses reaching ₦233.29 billion, reflecting inflationary pressures and ongoing business expansion.
For the standalone bank entity, gross earnings came in at ₦821.48 billion, while profit before tax stood at ₦270.81 billion and profit after tax at ₦242.45 billion.
The latest performance builds on the bank’s strong full-year 2025 results, when the Group reported gross earnings of ₦4.19 trillion, profit before tax of ₦1.26 trillion, and profit after tax of ₦1.04 trillion.
