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Despite the global Covid-19 Pandemic that entered Nigeria in March 2020 and other challenging operating business environment, Zenith Bank was able to weather the storm among it's competitors to be the largest bank in Nigeria with a total assets of N8.48 trillion in 2020 from N6.35 trillion in 2019, representing a 34 percent increase.
The bank led by Mr. Ebenezer Onyeagwu, managing director/CEO shows an impressive 2020 financials with a 25 percent increase in customer deposits from N4.26 trillion in 2019 to N5.34 trillion in 2020.
From it's banking operations, the bank gave out a gross loans of N2.92 trillion in 2020, an increase of 19 percent when compared to N2.46 trillion in 2019. But was able to reduce it's interest expenses from N148.5 billion in 2019 to N121.1 billion in 2020
The bank 2020 outing shows an improved gross earnings with an increased by five percent from N662.3 billion in 2019 to N696.5 billion in 2020. Similarly, the bank's non-interest income grew by eight percent from N232.1 billion in 2019 to N251.7 billion in 2020 while interest income grew by one percent from N415.6 billion in 2019 to N420.8 billion in 2020 and net interest income also increased to N299.7 billion in 2020 from N267.0 billion in 2019.
Zenith Bank also earn another title as the most valuable bank in Nigeria when it declared a profit before tax of N255.9 billion in 2020 from N243.3 billion in 2019 but it's after profit tax stood at N230.56 billion in 2020 with a 10 percent increase when compared to 2019 figures, leaving the bank with a shareholders funds of N1.11 trillion in 2020 and the bank gave out an improved Earnings per Share (EPS) from N6.65 in 2019 to N7.34 in 2020 and dividends of N3.00 in 2020.
