Zenith Bank Plc has announced its audited results for the half-year ended June 30, 2026, reporting a 1.91% year-on-year increase in profit before tax from N625.6 billion to N637.6 billion.
The audited financial statements submitted to the Nigerian Exchange (NGX) show that the growth in profit came from stronger margins, a leaner funding cost base and a significant improvement in asset quality.
On the strength of this performance, the Bank has proposed an interim dividend of N1.50 per share, representing a 20% increase from N1.25 per share in H1 2025.
The dividend is scheduled to be paid electronically on October 30, 2026, to shareholders whose names appear on the Register of Members as of October 23, 2026, and who have completed their e-dividend registration and authorised the Registrar to pay directly into their bank accounts. Global Depositary Receipt (GDR) holders will receive their dividends after this date
Zenith Bank’s H1 2026 performance was driven by improved net interest margins, lower funding costs, stronger transaction-related income and a significant reduction in impairment charges.
This supported an improvement in net interest margin (NIM) to 12.4% from 11.9% in H1 2025, while net interest income stood at N1.25 trillion.
The Bank’s transaction-led businesses also contributed to earnings performance.
Another significant driver was the improvement in asset quality. Impairment charges declined by 81% year-on-year to N141.1 billion, following the Bank’s clean-up of forbearance-related facilities.
Consequently, the cost of risk improved substantially to 2.2% from 14.3% in H1 2025, reducing the impact of credit-related losses on profitability.
On the balance sheet, gross loans increased by 14% to N12.57 trillion from N11.06 trillion in December 2025, reflecting continued lending activities across productive sectors of the economy.
The expansion in lending was accompanied by an improvement in the non-performing loan (NPL) ratio to 3.78% from 3.82% at the end of 2025, indicating stronger asset quality despite the growth in the loan portfolio.
The Bank also opened six additional branches in Nigeria, further expanding its domestic banking network.
In terms of financial strength, Zenith Bank maintained a capital adequacy ratio of 25.1% and a liquidity ratio of 60.5%, both above regulatory requirements.
Meanwhile, the adoption of the new tax framework under the Nigerian Tax Act 2025 affected bottom-line earnings.
Overall, improved funding efficiency, stronger transaction-related income and lower impairment charges supported Zenith Bank’s profit before tax growth to N637.6 billion in H1 2026, alongside continued expansion in its loan portfolio, customer deposits and banking operations.
Zenith Bank shares have gained approximately 118% year-to-date, rising from N61.80 at the beginning of 2026 to N134.70 as of October 9, 2026.
The stock has also recorded a marginal month-to-date gain of 0.52%, compared with its September closing price of ₦134.00.
