Zenith Bank reported full-year 2024 profit before tax of NGN 1.33 trillion, a 67% increase year on year, as gross earnings rose 86% to NGN 3.97 trillion. The results were published on 27 March 2025.
BALANCE SHEET AND CAPITAL RAISE
Total assets grew 47% to NGN 30 trillion. Customer deposits rose 45% to NGN 22 trillion.
During the year the bank raised NGN 350 billion in aggregate through a combined rights issue and public offer. The public offer component was 160.47% subscribed and the combined raise of about NGN 350.46 billion exceeded the NGN 290 billion target.
PUBLIC OFFER OVERSUBSCRIBED AT 160 PERCENT
The bank said the subscription level on the public offer demonstrated strong investor confidence in its growth trajectory.