Zenith Bank Plc reported profit before tax of ₦637.6 billion for the six months ended June 30, 2026, up 1.9% from ₦625.6 billion a year earlier, while profit after tax declined as the bank recorded a substantially higher tax expense.
The audited results, reported by Nigerian financial publications on October 10, show gross earnings fell 24.6% to ₦1.90 trillion. Profit after tax dropped 19.1% to ₦430.8 billion from ₦532.2 billion in the first half of 2025.
The board proposed an interim dividend of ₦1.50 per share, 20% higher than the ₦1.25 paid for the comparable period last year. Payment is scheduled for October 30 to eligible shareholders, subject to the stated registration and payment conditions.
Net fee and commission income rose 39.6% to ₦178.8 billion, while impairment charges fell sharply to ₦141.1 billion. The results also showed pressure in trading income and a higher tax bill, underscoring that headline pre-tax growth did not translate into higher after-tax earnings.
What the results signal
For investors, the figures point to a mixed performance: fee income and lower impairment charges supported pre-tax profit, but weaker gross earnings and higher taxes weighed on the bottom line. The proposed dividend is subject to the bank’s stated approval and payment conditions.
Sources: Nairametrics, October 10, 2026; BusinessDay, October 10, 2026.