Zenith Bank released its Unaudited Financial Statement for the period ended September 30, 2022, recording a growth of 20% in gross earnings from N516.7bn in Q3 2021 to N620.6bn in Q3 2022. The Q3 performance demonstrated resilience against the challenging macroeconomic environment, tightening monetary policy by the Central Bank of Nigeria (CBN), and rising inflation, which showed up as a +17% increase in operating costs. Zenith Bank, with a Year-to-Date price return of +2.6%, sold at N20.10 against the previous trade session before the financial result release. Analysts expect further positive reactions as Zenith recorded a growth of +9% in Profit after tax (PAT) which rose from N160.9bn in Q3 2021 to 174.3bn in Q3 2022 (see chart 2 below).
