Zenith Bank Plc has reported a 20.7% year on year growth in profit after tax to N311.83 billion for the first quarter ended March 31, 2025.

The bank’s strong performance was driven by a 71.5% year on year increase in funded income, supported by elevated yields and a 9.1% year-to-date growth in earning assets.

Further analysis of the unaudited financial performance shiws that Funded income rose by 71.5% year on year, driven by growth in loans to customers, investment securities, and placements with banks.

Non-interest income declined by 67.1% year on year, due to lower income from investment securities and net fees and commission.

Profit before tax grew by 9.6% year on year, while profit after tax increased by 20.7% year on year, driven by a lower tax expense.

Earnings per share declined by 7.7% year on year to N7.59, due to the dilutive impact of additional share issuances.

The market expect Zenith Bank’s earnings growth to remain robust, supported by its strong core performance and resilience in topline growth amid elevated interest rates.

The bank’s deployment of funds into investment securities and credit creation is expected to drive future growth