Zenith Bank (ZENITHBANK) Q1 2026 earnings summary

Executive summary

• Gross earnings for Q1 2026 reached ₦1.01 trillion, up 6% year-over-year, driven by higher interest and non-interest income.

• Profit before tax was ₦360.9 billion, a 2.9% increase year-over-year, and profit after tax stood at ₦314.0 billion.

• Basic and diluted EPS for the group was ₦7.64, compared to ₦7.59 in Q1 2025.

• Asset quality improved, with the non-performing loan ratio easing to 3.79% from 3.82% at year-end 2025.

• The bank maintained strong capital and liquidity positions, with CAR at 23.5% and liquidity ratio at 71%.

Financial highlights

• Net interest income after impairment charge was ₦576.5 billion, up from ₦541.8 billion year-over-year.

• Net interest income rose 7% year-over-year to ₦634 billion, supported by a 4% increase in interest income and a 5% reduction in interest expense.

• Non-interest income increased 19% year-over-year to ₦106 billion, reflecting higher fees, commissions, and other operating income.

• Operating expenses increased to ₦354.7 billion from ₦299.5 billion year-over-year.

• Net fee and commission income rose to ₦81.0 billion from ₦56.0 billion in Q1 2025.

Outlook and guidance

• Management expects even operational performance for the remainder of the year, with no significant seasonality anticipated.

• Focus remains on sustaining high-quality earnings growth, strengthening asset quality, and deepening customer engagement through digital innovation.

• Commitment to prudent risk oversight and disciplined capital allocation to support sustainable growth.

• No changes to accounting policies or business combinations are expected in the near term.