Zenith Bank, a Tier-1 Nigerian lender, said net profit rose 6.4 percent in the first quarter of 2019.
Profit after tax rose to N50bn from N47bn a year earlier, Zenith said in a statement released by the Nigerian Stock Exchange Wednesday.
Gross earnings fell 6.5 percent to N158bn from N169bn in the corresponding period of 2018, while profit before tax rose six percent to N57.2bn from N54bn in the same period last year.
Zenith recently announced the appointment of Ebenezer Onyeagwu as the Group Managing Director/Chief Executive. Prior to his appointment, Onyeagwu had been Deputy Managing Director of the bank from October 28, 2016. He has about 30 years cognate banking experience out of which 17 years has been with Zenith Bank.
