The stock moved between an intraday high of N60.10 and a low of N59.95 before settling at N60. It previously closed at N59.70, adding N0.30 at the end of the day.

Trading activity was also strong, with 54.41 million units traded across 1,104 deals, amounting to N1.12 billion in value.

Zenith Bank, listed on the NGX Premium Board, has a market capitalisation of N2.46 trillion and 41.07 billion outstanding shares. The stock opened the year at N45.50 and has gained 31.9% so far, placing it among the notable performers on a year-to-date basis.

The lender is one of the most actively traded stocks in the market, recording 1.82 billion units worth N117 billion over the last three months.

Several brokerage firms, including CardinalStone, Lead Capital, Afrinvest, Bancorp Securities and Meristem, have issued “Buy” recommendations for the stock this week.

Financial analysts are now anticipating Zenith Bank’s Q4 2025 and full-year results, while investors position themselves ahead of the financial releases.

The corporate disclosure was communicated to the Bank’s shareholders, investors, and the general public and filed with the Nigerian Exchange Group (NGX).

This measure was taken due to viral information currently trending online and reported by media outlets that the lender has acquired Paramount Bank Kenya.

According to Michael Otu, the group’s secretary, the corporation is currently exploring various regional expansion opportunities, inclusive of the East African Market. This is not limited to the acquisition of any financial institution as a part of its strategic long-term agenda.

The Bank also pledged to fully comply with the NGX Rulebooks, the Securities and Exchange Commission (SEC) regulations, and other statutory requirements by providing accurate and reliable information should any deal occur in the future.

Zenith Bank finally called on the various stakeholders to rely solely on the lender’s official communication channels for verified information.

The Group is listed on the Premium Board of the NGX, and its share closed at N61.55 on Tuesday, November 19, 2025, shedding 1.95%  of its share price.

Key Financial Highlights

• Interest income surged 41% year-on-year to 7 trillion, driven by a high-yield rate environment and expansion of the bank’s investment portfolio.
• Despite interest expense rising 22% to N814 billion – reflecting a tighter monetary policy and larger funding base, the bank maintained a healthy Net Interest Margin (NIM) of 12%, up from 10% a year earlier.
• Non-interest income fell by 38% to N535 billion, primarily due to a 60% drop in trading gains.
• Profit Before Tax (PBT) stood at N917 billion, versus N1.00 trillion in September 2024. Profit After Tax (PAT) declined by 8% to N764 billion, and Earnings Per Share (EPS) dropped to N18.60 from N26.34.
• Total assets reached N31 trillion as at September 2025, up 4% from N30 trillion in December 2024. Customer deposits grew by 8% to N23.7 trillion, while gross loans fell 9% to N10 trillion. Non-performing loan (NPL) ratio improved to 3% thanks to write-offs.
• Return on Average Equity (ROAE) and Return on Average Assets (ROAA) were 23.3% and 3.3% respectively. The coverage ratio was 211.1% and liquidity ratio 53%, both strong by industry standards.

The numbers suggest that while Zenith Bank is successfully leveraging interest income and maintaining strong margin performance, it is facing headwinds in non-interest income, especially from trading operations.

The contraction in PAT and EPS indicates cost pressures and tightened profitability despite top-line growth.

Asset quality remains a bright spot, with the NPL ratio improving and the bank showing resilience in the broader challenging Nigerian macro-economic environment.

Outlook & Commentary

Speaking on the results, Dame (Dr.) Adaora Umeoji, group managing director/CEO, Zenith Bank, described the performance as “an attestation to the resilience of the Zenith brand, result-driven strategy, and the adaptability of our people in an evolving operating environment.”

 “We’re well placed to sustain this momentum whilst maintaining responsible leadership in the Nigerian banking industry and delivering exceptional value to all our stakeholders.”

The bank’s strong capital base, liquidity profile, and asset quality bolster its readiness to seize growth opportunities, particularly in digital innovation and client-centric solutions.

Zenith Bank’s latest figures underscore the dual nature of banking in Nigeria: while interest income benefits from high rate environments, the non-interest segments may still lag due to market volatility.

For stakeholders and investors, the key takeaway is that the bank is navigating the terrain with strength, but must continue to diversify income streams and manage cost pressures to sustain long-term growth.

This was disclosed in the group’s 2024 financial statement, where it reported significant improvement across key success indicators, with gross earnings surging as high as N3.9 trillion, an 86% jump from N2.1 trillion announced in 2023.

Profit-before-tax rose by  67% to N1.3 trillion from N795.9 billion, and Earnings per share increased to N32.87 from N21.55.

In terms of balance sheet strength, Zenith Bank’s total assets grew by 47.1%, hitting N29.9 trillion—up from N20.3 trillion—while total liabilities increased to N25.9 trillion, a 43.7% rise from N18 trillion. Retained earnings also rose significantly by 70.9% to N2 trillion, up from N1.1 trillion.

Following the notable performance improvements, the group has declared a final dividend of N4.00 per every share of 50 kobo, subject to appropriate withholding tax and approval.

This will be paid to shareholders whose names appear in the Register of Members as of the close of business on April 15, 2025.

Zenith Bank Plc recorded significant improvement across major performance metrics compared to the previous year, including a healthy Capital Adequacy Ratio (CAR), notable growth in profitability, and increased earnings.

The group emphasized its commitment to delivering sustainable growth, providing value to stakeholders, and also accelerating financial inclusion through innovative solutions.

This Annual results of the financial institutions filed with the Nigerian Exchange Limited revealed.

The financial institutions analysed include; Access Holdings, FCMB, Sterling Financial Holding, Fidelity Bank, Wema Bank, Stanbic IBTC, Guaranty Trust Holding Company, Zenith Bank Plc and United Bank for Africa Plc.

The banks, in their statements, explained that the legal disputes emerged as part of regular business operations, encompassing various actual and potential claims, lawsuits, and other proceedings about alleged errors, omissions, and breaches.

It was also highlighted that while the directors were confident, based on current information and counsel advice, that none of the outcomes from the proceedings would significantly impact the bank’s financial position, monetary provisions were set aside to resolve these claims.

However, publicised legal battles can damage a bank’s reputation, increase regulatory scrutiny and operational disruptions leading to loss of customer trust, potential investors, and business confidence, according to analysts.

“The Group litigation portfolio as of 31 December 2023 consisted of 416 cases and the aggregate value of monetary claims was N275,274,345,488.90; USD$4,468,675.78 & GB £74,284.64,” it said.

In the period under review, GTBank reported a provision of N9.1bn for litigation claims from 1,060 cases.

In the cases; as a defendant (31 December 2022: 943) and 486 as a plaintiff (31 December 2022: 483).

Similarly, FCMB Group, according to its unaudited report for 2023, reported a loss of N6.33bn, while Access Bank reported a loss of N3.46bn from numerous legal actions arising out of its normal business operations.

The report further stated that Fidelity Bank earmarked N1.19bn for legal dispute claims; Wema Bank N1.14bn; and Sterling Bank N10m.

Zenith Bank, which got a total loss of N33bn within one year. The tier-one bank said the total amount claimed in the cases against the Group is now estimated at N1tn from N967bn recorded as of 31 December 2022 but affirmed that none of the aforementioned cases would likely have a material adverse effect on its banking activities.

UBA reported 1,649 legal cases and provisioned N320.12bn for potential claims.

It also stated that “The group, in the ordinary course of business is currently involved in 1,649 legal cases from 1,422 cases in 2022. The total amount claimed in the cases against the Group is estimated at N986.247 billion from N666.124 billion in 2022, highlighting an increase of N320.12bn.

The directors having sought the advice of professional legal counsel, think that no significant liability will crystalized from these cases beyond the provision made in the financial statements.”

The increased reporting of litigation claims by banks probably followed sanction threats by the Financial Reporting Council of Nigeria to sanction companies hiding or underreporting the value of legal claims.

According to FRC, such sharp practice violates IAS 37, a part of International Financial Reporting Standards set up by the International Accounting Standards Board.

As a result, FRC said that going forward, it would hold any accounting professional or company responsible for any breach of its governance codes.

According to Dr Rabiu Olowo, the executive secretary and chief executive officer of the council, any accounting professional who goes against the core of conduct will be barred from practice.

Olowo said, “So, one of the things we could do is to make sure that we do not allow any professional who goes against the core conduct that is expected in the profession to practice.

“If you look at FRC and what the ACCA stands for; we are not just about promoting the works of accountants; we want to make sure we promote and oversight credible work that would lead to credible financial reporting. It’s the kind of alignment that we share as FRC and the ACCA.”

Amede who was represented by an executive member of CCISONFI, Mr. Olusola Odediran (also, the Chief Information Security Officer) Nigeria Inter-Bank Settlement System (NIBSS), spoke during his keynote presentation at the maiden edition of Payments Forum Nigeria (PAFON 1.0) held at Oriental Hotel, Lagos on Thursday.

His presentation themed, ‘Payments: Trust, Security and Privacy in AI Era,’ explored the critical aspects of trust, security, and privacy in payments, and provided insights into the challenges, solutions, and future trends in safeguarding transactions in the digital landscape.

The CCISONFI chairman stated that although the payment industry enjoys such regulatory oversights arising from the Nigerian Data Protection Act (NDPA) and Data protection laws, the Payment Card Industry Data Security Standard (PCI DSS), and the compliance requirements for businesses, the industry has balanced security and convenience relying on user experience in payment security, seamless authentication methods, and biometric and tokenized payments.

On how emerging Technologies will impact the payment industry, he disclosed that while Blockchain will be deployed to ensure secure transactions, Artificial Intelligence and Machine Learning will be used in fraud prevention even as privacy-preserving computing impact cannot be underestimated.

Amede called on players in the payment industry to continue to educate consumers by providing them with tips on how to secure online payments, how to recognise phishing attempts, and the importance of keeping software updated.

He listed some of the best practices for businesses including regular security audits and penetration testing; employee training on security protocols; and ensuring collaboration with payment security experts.

Speaking further on the need to build trust in payment systems, Amede, who is also the CISO of Zenith Bank Plc emphasised the importance of trust for consumer adoption, transparency in transactions, and commitment to securing the payment infrastructure.

He stated that the Payment Systems are exposed to such threats and vulnerabilities as Cyber Attacks and Data Breaches, Phishing and Social Engineering, and malware and ransomware.

Ikenna Ndugbu, the chief compliance officer, represented by Isoken Aigbomian, the regional sales Manager, Moniepoint, highlighted the evolution of Moniepoint into a leading payment processor, stating, “We started off with a virtual account service where we automated payments or transfers, allowing customers and businesses to make and receive payments seamlessly through transfers. This was what catapulted and was modified into the limelight and household name that seems to be.”

Aigbomian emphasized the company’s focus on providing flexible payment options to businesses across various sectors, stating,

“Today, Moniepoint offers a wide variety of payment options to businesses. There is an online payment platform, in-person payments option and then there are the cash payments via our ATM network, which is almost, I think, one of the largest, as well.”

She explained how Moniepoint MFB identified the need for a seamless payment experience and developed innovative solutions to address it. “So, what we did was we looked inward, and we said the most popular means of payment in Nigeria is transfer. So we worked with our engineers and were able to build an infrastructure.”

Roosevelt Elias, the founder of Payble, noted the importance of data privacy and security in the age of digital payments, stating, “It is essential to preserve the details of such trusted transactions, as they often hold significant importance for the company’s outcomes and operations.”

He endorsed for cautious use of data and highlighted the need for AI encryption and compliance-based companies to protect user privacy and ensure regulatory compliance.

On the other hand, Peter Evbota, sales director at inq. Digital Nigeria Limited, spoke on artificial intelligence (AI) and its ability to transform sectors, particularly in data analytics and security.

He emphasized the power of AI in processing both structured and unstructured data, highlighting its ability to detect patterns and provide valuable insights.

Earlier in his welcome address, Mr. Chike Onwuegbuchi, co-founder of TechCastle Foundation, organisers of the event, while giving insight into why the forum was berthed, said payments are very critical in the economy of every country including Nigeria.

“Last year, before the elections, we witnessed what Nigerians faced in the payments system- ATMs were not working to dispense cash, and at merchant locations, it was difficult to make payments with banks’ PoS thanks to Moniepoint and few others that came to the rescue,” he said.

Onwuegbuchi noted that there had been issues of declined transactions and customers’ accounts debited, in addition to an existing systemic fraud, misinformation and lack of information that have led to customers losing their money to fraudsters.

“After looking at these issues and many more, we at TechCastle Foundation decided to create a platform where stakeholders could discuss these issues with the objective of making our Payments systems better,” he said.

He stated that the essence of the forum was to make the ecosystem better for every Nigerian as operators, regulators and end users are expected to discuss to find a way to make the system better.

He added that trust issues in payments, security and other industry-related issues were to be discussed at the forum by cybersecurity experts who have distinguished themselves in working with money deposit banks to ensure that cybercriminals didn’t steal money in the bank.

The inaugural edition of the Payments Forum Nigeria was a cross-industry platform that focused on addressing issues that require broad cooperation and coordination across many constituents in the payments industry.

PAFON 1.0, sponsored by Moniepoint, Digital Encode Limited, Cybervergent, inq.Digital and Payble with support from the Central Bank of Nigeria (CBN), Fintech Association of Nigeria and Association of Mobile Money and Bank Agents in Nigeria (AMMBAN), provided participants with an inside look at the Payments industry, offering perspectives from key stakeholders, including payment networks, technology innovators, leading merchants, issuers, acquirers, and payment processors.

Kwadwo Dako Botwe, a representative of the 3i Africa summit and member of the Fintech Office of The Bank of Ghana was present to highlight the upcoming 3i Africa summit.

The 3i Africa Summit is a 3-day global symposium aimed at envisioning the future of the African financial landscape and propelling the digital economy.

Under the theme “Unleashing Africa’s fintech and digital economic potential, the summit will convene over 2,000 investors, innovators and policy makers from around the world at the Accra International Conference Center on the 13th to 15th of May, 2024.

It is co-convened by the Bank of Ghana and Development Bank Ghana in collaboration with the Monetary Authority of Singapore, and its subsidiary Elevandi, organizers of the Singapore Fintech Festival.

The appointment is said to be subject to approval by the Central Bank of Nigeria (CBN). Adaora Umeoji, takes over from Dr. Ebenezer Onyeagwu, whose five-year term expires on May 31, 2024, after a very successful tenure.

Of significance to note, is the fact that, Dame (Dr.) Adaora Umeoji is the first female GMD/CEO since the inception of the bank, and her appointment is consistent with the bank’s executive transition tradition, succession plan, and strategy of grooming leaders from within.

However, she has close to 30 years cognate banking experience of which 26 years has been with Zenith Bank.

Before the appointment as GMD/CEO, Dr. Umeoji has been the Deputy Managing Director of the bank since October 28, 2016m.

Who is Adaora Umeoji?

A brief look into Dr. Adaora Umeoji‘s profile shows a combination of outstanding academic strength and topnotch professional experience which must have endeared  and qualified for her recent appointment.

The New Zenith Boss, and a recipient of the Officer of the Order of the Niger (OON), holds a Bachelor’s Degree in Sociology from the University of Jos,  a bachelor’s Degree in Accounting and a First-Class honors in Law from Baze University, Abuja respectively.

Furthermore, she holds a Master of Laws from the University of Salford, United Kingdom, a Master in Business Administration (MBA) from the University of Calabar, and also has a doctorate in business administration from Apollos University, USA.

Adaora Umeoji, is  an alumnus of the prestigious Harvard Business School where she attended the Advanced Management Program (AMP) and an alumnus of Columbia Business School with a Certificate in the Global Banking Program.

Not satisfy yet,  she still pursue earn for herself   a Certificate in Economics for Business from the prestigious MIT Sloan School of Management, USA, and has attended various management programmes in renowned Universities around the world including the strategic thinking and Management programme at Wharton Business School, USA.

Whilst  also attended the executive program in Strategic Management, and a Certificate in Leading Global Business all from Harvard Business School, USA.

The New  Zenith  Group Managing Director, is a fellow of notable professional bodies including the Chartered Banker Institute, UK, Chartered Institute of Bankers of Nigeria, Nigerian Institute of Management, Institute of Credit Administration, Institute of Certified Public Accountants of Nigeria, Institute of Chartered Mediators and Conciliators, and the Institute of Chartered Secretaries and Administrators of Nigeria among others.

In 2022, the Federal Government of Nigeria honoured Dr. Umeoji with Officer of the Order of the Niger, as a recognition of her contributions to nation building. She is a Peace Advocate of the United Nations (UN-POLAC).

Dr. Adaora has also  impacted many lives through her philanthropic and humanitarian activities through her NGOs; Pink Breathe Cancer Foundation and the Adorable Foundation that educates, caters for Cancer patients and indigent children education especially the Girl-Child. Her contribution to humanity was recognized by the Sun Newspaper which recently bestowed on her the Humanitarian Service Icon Award for 2023.

As a result of her passion for promoting professionalism in the banking industry and improving the well-being of the less privileged, Dr. Adaora Umeoji, founded the Catholic Bankers Association of Nigeria (CBAN), a platform she uses to promote ethical banking and service to humanity.

She is a Lady of the Order of Knights of St. John International (KSJI), and was awarded a Papal Knight of the Order of St. Sylvester by His Holiness Pope Francis.