Zenith Bank nets N54 Billion first half profit in 2013

Zenith Bank Plc announced a profit before tax (PBT) of N54 billion naira on Thursday, August 15 for the half year ending June 30, 2013. This was up from the N50.2 billion made in the same period last year. Zenith Bank’s profit after tax also appreciated from N42.41 billion in 2012 to N45.419 billion in 2013. Revenue was N171 billion, up by 13 percent from N151 billion made in the same period last year. Customers’ deposits grew by 18 percent from N1.701 trillion to N2 trillion, and cost to income ratio reduced from 57.2 percent to 53.3 percent.