Bounce In Zenith Stocks After Strong H/Y Results

Zenith Bank Plc on Thursday affirmed its towering strength in the Nigeria money market space with impressive half year results that showed gross earnings of N346 billion for the half year ended June 30, 2020.

The strong results with a spin off of 30 kobo interim dividend helped to lift Zenith stocks above the N17 mark where it had hovered for sometime.

The gross earnings represent an increase of four per cent when compared with N332 billion posted in the comparative period of 2019.

The bank also proposed an interim dividend of 30k per share for the period under review.

The group’s total deposits grew by 15 per cent to N4.9 trillion, from N4.3 trillion in December 2019.

This, the bank said, was driven by a 41 per cent increase in retail deposits from N1.1 trillion, to close at N1.6 trillion.

The result showed that non-interest income rose to N116 billion from N110 billion achieved in the corresponding period of 2019.

Its earnings per share also increased by 17 per cent to N3.30 in H1 2020, from N2.83 in H1 2019.

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