Zenith Bank has re-affirmed its industry leadership and consistency in providing superior financial returns as indicated by its impressive performance in the half-year ended June 30, 2022 . This is demonstrated by the 11% year-on-year (YoY) growth in profit before tax (PBT) from NGN117 billion to NGN130 billion. Earnings per share (EPS) also grew from NGN3.38 to NGN3.55 over the same 6-month period. Gross earnings rose by astrong17% YoY from NGN346 billion to NGN405billion. This growth was underpinned by a19% YoY growth in interest income from NGN204 billion to NGN242 billion and an 18% YoY growth innon-interest income from NGN127 billion to NGN149 billion. The growth in interest income was driven by the modest increase in the loan book and improved interest margins. The increase in non-interest income attests to the Group’s success in its income diversification strategy.The Group recorded an 11% year-to-date (YtD) increase in total customer deposits to close the period at NGN7.15trillion. The retail strategy of the Group continues to deliver outstanding results as retail deposits grew by 17% YtD from NGN1.82 trillion to NGN2.13 trillion. Retail activities also supported the growth recorded in fees on electronic products which grew by 45% YoY from NGN17 billion to NGN25 billion. Despite the elevated yield environment, the cost of funds increased only marginally from 1.3% in June 2021 to 1.4% in June 2022. The increase in the cost of funds was lower than the increase in yields on interest-generating assets, giving rise to an improved Net Interest Margin (NIM) of 7.1% from 6.4% in June 2021. Total assets rose to NGN10.12trillion at the end of June 2022 from NGN9.45 trillion at the end of December 2021. Despite the headwinds imposed by the operating environment, the Group grew its risk assets as gross loans grew by 5% YtD, from NGN3.5 trillion to NGN3.7 trillion. This was achieved at a moderate NPL ratio of 4.4% (FYE 2021: 4.2%) and cost of risk of 1.4% (June 2021: 1.3%). Prudential ratios such as liquidity and capital adequacy also remained stable and well-above regulatory thresholds at 60.5% and 21.0% respectively. The Group is focused on advancing its digital banking strategy anchored on a strong technology base, and intends to consolidate on the gains achieved in prior years across all business segments. Combined with the Group’s industry leadership, the bank stated that it expected this to drive improved performance and deliver enhanced returns to stakeholder