Zenith Bank records 91% rise in after-tax profit amid interest income boom

Zenith Bank’s net profit for the nine months to September grew by 90.5 per cent or N393.1 billion compared to the same period of last year.

The performance was supported by a major boost to the income the lender earned from loans and other financial assets.

Net interest income, which implies how much banks earn after deducting borrowing costs from the interest generated, increased more than threefold to N1.3 trillion, according to the bank’s unaudited financial report issued on Wednesday.

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