Zenith Bank Plc has continued to reinforce its position as one of Africa’s leading financial institutions, combining strong financial performance with strategic expansion across the continent and growing international recognition.
Following its historic double victory at the Euromoney Awards for Excellence 2026, the bank has also expanded into Kenya and Côte d’Ivoire while unveiling plans to list on the London Stock Exchange in 2027. Its unaudited financial results for the first quarter ended March 31, 2026, further demonstrate the bank’s resilience, profitability and long-term growth strategy.
Record Profit and Strong Financial Performance
Zenith Bank recorded a Group profit before tax of ₦361 billion during the first quarter of 2026, representing a three per cent increase compared to the same period in 2025. The result remains the highest pre-tax profit among Nigeria’s leading commercial banks.
The bank also posted impressive growth across several key performance indicators, including net interest income, fee and commission income, shareholders’ equity and customer deposits, highlighting the strength of its diversified business model.
Stronger Balance Sheet and Capital Base
As of March 31, 2026, Zenith Bank’s total assets stood at ₦32.01 trillion, while customer deposits increased by 7.9 per cent year-on-year to ₦24.47 trillion.
Shareholders’ equity climbed by 16.3 per cent to ₦5.17 trillion, reflecting the bank’s ability to retain earnings and strengthen its capital base.
Investor confidence has also remained high, with Zenith Bank’s share price rising by over 104 per cent year-to-date as of July 23, 2026, pushing its market capitalisation to approximately ₦5.18 trillion.
According to Brand Finance, Zenith also recorded the fastest brand value growth among Africa’s leading banks, with a 33.6 per cent increase.
Loan Growth Backed by Strong Asset Quality
The bank continued to expand its lending activities responsibly during the first quarter.
Gross loans and advances rose by 8.6 per cent to ₦12.04 trillion, while net loans increased by 13.2 per cent to ₦11.38 trillion.
Despite the growth in lending, Zenith maintained strong asset quality, with its non-performing loan ratio improving to 3.79 per cent, down significantly from 4.70 per cent recorded at the end of 2024.
Its loan-loss coverage ratio of 172.6 per cent further demonstrates the bank’s strong risk management practices and ability to absorb potential credit losses.
Revenue Growth Driven by Interest and Digital Banking
Gross earnings for the quarter increased by 6.1 per cent to ₦1.01 trillion.
Net interest income grew by 7.3 per cent to ₦634.1 billion, remaining the highest among Nigerian banks during the period.
The strongest growth came from fee and commission income, which surged by 44.6 per cent to ₦81 billion, reflecting increased earnings from digital banking services, transaction banking and card services.
For the 2025 financial year, Zenith maintained a healthy net interest margin of 13.7 per cent, underscoring its efficient pricing strategy.
Shareholder Returns Remain Strong
Zenith Bank continued to reward shareholders with one of the largest dividend payouts in Nigeria.
Following its strong 2025 performance, the bank doubled its total dividend to ₦10.00 per share from ₦5.00 the previous year, distributing approximately ₦410.7 billion to shareholders.
The bank also maintained strong profitability, posting a return on average equity of 23.2 per cent and return on average assets of 3.4 per cent.
Its cost-to-income ratio remained efficient at 45.2 per cent for the 2025 financial year.
Solid Capital Position
Zenith Bank remains one of Nigeria’s strongest capitalised financial institutions.
Its capital adequacy ratio stood at about 25 per cent, while its liquidity ratio reached 71 per cent, both comfortably above regulatory requirements.
Fitch Ratings estimated the bank’s total capital ratio at 25.8 per cent at the end of 2025, while CardinalStone Research projects further improvement over the next two years as retained earnings continue to strengthen the bank’s capital position.
This strong capital base provides sufficient capacity for future expansion, increased lending and protection against economic shocks.
Euromoney Recognises Zenith as Africa’s Best Bank
Zenith Bank’s impressive performance earned global recognition at the Euromoney Awards for Excellence 2026 held in London.
The bank was named Africa’s Best Bank and Nigeria’s Best Bank, retaining the Nigerian title for the second consecutive year.
Group Managing Director and Chief Executive Officer, Dr. Adaora Umeoji, described the awards as recognition of the confidence customers have in the bank and the dedication of its workforce.
The latest honours add to Zenith’s long list of international recognitions, including its 17 consecutive years as Nigeria’s Number One Bank by Tier-1 Capital in The Banker’s Top 1000 World Banks ranking.
Expanding Across Africa and Beyond
Zenith Bank accelerated its international expansion during 2026.
The bank completed the acquisition of Paramount Bank Kenya, establishing a strategic presence in East Africa.
It also launched its Côte d’Ivoire subsidiary, marking its first entry into Francophone West Africa and providing access to the eight-member WAEMU economic bloc.
In addition, Zenith has announced plans to list on the London Stock Exchange in 2027 to broaden access to international capital and support larger cross-border financing opportunities.
These strategic investments strengthen the bank’s ambition of becoming a truly global African financial institution.
Outlook
Zenith Bank’s first-quarter 2026 performance demonstrates that its success is built on more than strong profits.
With solid capital reserves, growing customer deposits, improving asset quality, expanding digital banking revenue, increasing shareholder returns and a clear Pan-African growth strategy, the bank continues to strengthen its leadership position within Nigeria and across Africa.
Combined with its recent international awards and ongoing expansion into new markets, Zenith Bank appears well positioned to sustain its growth momentum and reinforce its reputation as one of Africa’s best-performing financial institutions.
