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ZENITH BANK REAFFIRMS MARKET DOMINANCE AND LEADERSHIP WITH Q3 2019 RESULT

Published

6 years ago

October 24, 2019

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Zenith Bank Plc has announced its unaudited results for the period ended 30 September, 2019, with numbers that clearly demonstrates its market dominance and leadership.

From the unaudited account which was presented to the Nigerian Stock Exchange (NSE), gross earnings increased by 4% percent from N474,607 billion recorded in Q3 2018 to N491,268 billion in Q3 2019. Profit Before Tax (PBT) grew by 5% from N167,307 billion in Q3 2018 to a record N176,183 billion in Q3 2019. Also, profit after tax rose by 5% from N144,179 billion in Q3 2018 to N150,723 billion in Q3 2019.

Despite a challenging macro-economic backdrop, the Group recorded a significant growth in Non-Interest Income, expanding by 22% from N128.7 billion in Q3 2018 to N156.8 billion for the current period. Our platforms and channels have been the enablers of this growth, with fees from electronic products doubling to N35.3 billion from N17.6 billion in Q3 2018.

Our cost optimization strategies and aggressive retail banking drive are yielding the desired effects as cost-to-income ratio declined from 51.2% in Q3 2018 to 50.1% in Q3 2019 with Earnings Per Share (EPS) growing by 5% from N4.58 in Q3 2018 to N4.80 in Q3 2019.

Our retail and corporate banking franchises continued its momentum with customers’ deposits growing by 7% to N3.95 trillion from N3.69 trillion recorded as at December 2018, a reflection of increasing share of the industry’s deposits and customers’ confidence in the Zenith brand. These deposit acquisitions have directly contributed to our cost of funds improving from 3.3% in Q3 2018 to 2.95% as at Q3 2019.

We have continued to deploy capital to creating viable risk assets with gross loans and advances growing by 9% from N2.02 trillion as at December 2018 to N2.2 trillion as at Q3 2019 across both the retail and corporate segments. Our focus remains the search for bankable lending opportunities to ensure the attainment of the minimum regulatory loan-to-deposit ratio (LDR) of 65% by December 31, 2019 without compromising our prudence.

Our robust risk management framework has ensured that non-performing loans (NPL) ratio declined from 4.98% in December 2018 to 4.95% in the current period. Our commitment to maintaining a shock-proof balance sheet remains with liquidity and capital adequacy ratios at 63.8% and 23.8% respectively, both above regulatory thresholds.

In this final quarter of the year, we will sustain our competitiveness and share of market in the corporate segment and build upon our digital foundations to reinforce our retail banking initiatives.

As a testament to this superlative performance and in recognition of its track record of excellent performance, the bank was recently named as the Bank of the Year and the Best Bank in Retail Banking at the 2019 BusinessDay Banks’ and Other Financial Institutions Awards (BAFI Awards).

Related Topics:AYOOLA KUSIMO zenith bank plc

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Tunde Ednut Earns $5,000 Per Day! -Report

Published

2 months ago

September 22, 2025

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“Tunde Ednut earns $5,000 average per day, ISWIS made approx $200,000 from live events in one month” — Chude Jideonwo unveils creator economy data at Digital Creator Africa Summit

At the inaugural Digital Creator Africa Summit, media entrepreneur and #WithChude host Chude Jideonwo unveiled new data positioning the Nigerian creator economy as one of the most commercially powerful industries on the continent.

Highlighting explosive growth and overlooked business models, Jideonwo revealed that:

• Tunde Ednut, the former musician turned Instagram media mogul, is estimated to earn over $5,000 a day through his platform — with a business model based on affiliate promotion, Instagram advertising, and music amplification.

• The hit podcast “I Said What I Said” (ISWIS) reportedly made approximately $200,000 in gross revenue from live events alone in a single month, drawing thousands of fans across there US, the UK and Canada.

• “What these numbers show,” Jideonwo said, “is that creators are no longer just influencers — they are media companies, and increasingly, nation-builders.”

The summit, held in Lagos and attended by creators, investors, and media leaders, was designed to shift the conversation from virality to value — reframing content creation as infrastructure, not just entertainment.

As part of his address, Jideonwo announced his $500,000 personal commitment to the FourthMainland Creator Fund — a catalytic investment vehicle to back high-potential African creators with funding, IP support, and platform distribution.

“We’re building the Mavin Records of storytelling,” he said. “Not just with fame, but with financial tools, ownership, and a full studio system that lets creators scale across the continent and diaspora.”

The Creator Fund is part of the broader FourthMainland ecosystem, a creator commerce platform set to launch in 2026. The platform will offer monetization tools, subscription infrastructure, and joint-IP models built around African content — positioning it as the first at-scale infrastructure for the continent’s growing $100B creator economy.

Jideonwo, whose ventures include Joy, Inc., #WithChude, and YNaija, closed with a call to funders and policymakers:

“If music had Mavin Records and tech had CcHub, then creators now have their studio systems — their Mavins — and they’re building billion-dollar value chains without waiting for permission.”

The keynote, titled “Overtaking is Allowed,” argued that Africa’s most important civic and cultural shifts today are being led by independent creators, and that media-tech infrastructure for creators is now one of the biggest opportunities for economic growth across the continent.

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What Ibadan Socialite, Fijabi’s Leak Audio Has Done To Minister Adelabu’s Guber Ambition

Published

5 months ago

July 1, 2025

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A recent viral moment has unexpectedly stirred the political waters for Power Minister Adebayo Adelabu’s 2027 gubernatorial bid in Oyo State. Here’s how it unfolded—and the fallout that followed:

An audio featuring Ibadan socialite, Chief Akinade Fijabi and an unidentified young man surfaced online.

In the audio, Fijabi, an Ibadan high Chief and singer, Wasiu Ayinde’s closest ally bared his thoughts on political bearings in Oyo State and centred it round the Minister for Power, Adebayo Adelabu.

The audio quickly gained traction, sparking laughter and debate across social media platforms in Oyo and beyond.

The audio briefly overshadowed Adelabu’s image and critics seized the moment to question his ability, business sense and highlight potential vulnerabilities in managing grassroots affairs.

Even before the audio, Adelabu’s return to APC and flirtation with a 2027 run had unsettled internal party dynamics. The audio gave fuel to factions already uneasy about his rapid elevation and perceived attempt at imposition.

APC hardliners and youth groups, who’ve openly criticized the party’s handling of aspirants like Adelabu, echoed that the viral moment underscores deeper frustration about favoritism .

Adelabu’s allies are downplaying the audio, arguing that public interactions reflect openness and a grassroots presence and qualities essential for statewide appeal. They’ve also pointed to his achievements, including boosting national grid capacity, as evidence of credible leadership .

Fijabi in the audio also shed some lights based on what he termed ‘reliable information’ on Governor Makinde’s Presidential ambition, claiming it was a plot to collapse the PDP in Oyo State for President Tinubu with an agreement that the Governor would be granted the request to install a successor.

The clip audio shifted part of the conversation from Adelabu’s technocratic record to his public persona. Analysts say managing optics now matters more than ever for his brand.