ZENITHBANK, a top-tier bank domiciled in Nigeria, was
founded on May 30, 1990 and commenced business on 16 June 1990. Being one of the eight
systemically important banks in Nigeria, ZENITHBANK
boasts of total assets surpassing NGN4 trillion and market capitalisation
of over NGN600 billion.
ZENITHBANK is adequately capitalised. And we have no
reason at the moment to believe that the quality of its assets is impaired. However,
loan loss provision seems low (2016:3%; 2015:2.1%).
Gross
earnings of the bank increased by 17.5% to NGN508 billion at the end of 2016
financial year. Shareholders' fund climbed 18.5%
and was about doubled in six years. Earnings
Per Share (EPS) surpassed the 7-year average of NGN3.7 by NGN2.1. Book Value
Per Share of NGN24.4 was 18.4% better than what was achieved a year before.
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