Zenith Bank’s Staff Provident Fund has acquired 33,015,935 units of the bank’s shares, valued at approximately N2.3 billion. The fund, composed of employee salary contributions, executed the purchase over three trading days in September, signaling a strategic move to grow staff savings through the equities market.
The disclosure was made in a director dealing notice filed with the Nigerian Exchange on November 11, 2025, signed by the company secretary, Michael Osilama Otu. According to the filing, the purchase occurred in nine tranches at an average price of N69.67 per share under transaction ID 029200268F8M5Y1629, executed on September 26, 29, and 30.
On November 7, 2025, the fund sold 1,750,000 units at N59.98 per share, generating N104.97 million. This cash-out likely aimed to meet employee benefit obligations. The September purchase highlights how corporate staff funds can leverage equity investments to expand wealth and support long-term employee benefits.
Zenith Bank’s nine-month personnel expenses climbed to N182 billion, up from N150.6 billion in the same period of 2024. Other operating costs also rose by 12.74%, totaling N532.1 billion, placing pressure on pretax profits despite strong revenue growth.
Interest income saw a sharp surge, increasing 40.7% to N2.74 trillion from N1.94 trillion the prior year. This growth was largely driven by interest from loans and advances of N1.36 trillion, treasury bills of N740.5 billion, and other investment securities totaling N400.3 billion.
Net interest income rose to N1.92 trillion, up from N1.2 trillion, despite total expenses of N814.2 billion. After accounting for an impairment charge of N781.5 billion, net income reached N1.14 trillion, marking a 42.63% increase. However, pretax profit moderated to N917.4 billion from N1 trillion in 2024.
Zenith Bank’s total assets increased 2.6% to N31.17 trillion, driven by growth in loans, cash balances, and investment securities. Cash and bank balances rose to N6.85 trillion, loans and advances to N9.37 trillion, investment securities to N4.85 trillion, and treasury bills jumped 46% to N4.1 trillion. Customer deposits grew 9.8% to N23.68 trillion, underlining strong liability management.
Zenith Bank shares have gained more than 30% year-to-date on the Nigerian Exchange, currently trading at N59.40. The Staff Provident Fund’s investment underscores confidence in the bank’s long-term growth, offering insights into strategic equity deployment for institutional and staff funds.