Zenith Bank, Nigeria Records N27bn Profit in First Quarter

Zenith Bank Plc on Monday announced a profit after tax (PAT) of N26.573 billion for the first quarter ended March 31, 2016, showing a decline of about four per cent compared to N27.680 billion recorded in the corresponding period of 2015.

The bank ended the period with gross earnings of N84.177 billion, up from N81.421 billion, while net interest income stood at N58.157 billion as against N42.631 billion in 2015. It recorded impairment charges of N2.557 billion, up from N2.1 billion in 2015.

Zenith Bank Takes Lead in Forex Allocation from CBN

Bank returns on the utilization of foreign exchange bought by commercial banks from the Central Bank of Nigeria (CBN) last week have shown that Zenith Bank Plc with $23,006,130.65 reported the highest amount of forex purchased for its customers.

The central bank had stated that the publications

Oil Bunkering: Court Summons Zenith Bank Over N150m Bond For Accused Russians 

 

The Federal High Court in Lagos has ordered Zenith Bank to appear before it next Tuesday to explain why the bank should not forfeit the N150 million bond issued to secure the bail of three Russians standing trial before the court.

Oil Bunkering Today Nigeria

The three men are among 14 accused foreigners standing trial before the court on a five-count charge of illegally dealing in petroleum products.

In June 2015, the Economic and Financial Crimes Commission (EFCC) arraigned before the court the 14 foreigners, who comprise seven British citizens, three Russians, three Ukrainians and one Japanese, for their alleged involvement in massive oil bunkering in Nigeria’s territorial waters.