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Zenith Bank grows Q3 profit by 5.6%

By The Citizen

Zenith Bank Plc has announced that its Profit after Tax (PAT) increased by 5.6 per cent to N71.1 billion in the nine months period ended September 30, 2014, from N67.3 billion in the same period of 2013.

This was disclosed in the bank's result filed to the Nigerian Stock Exchange (NSE).\

On the other hand, pre-tax profit went down 18.3 per cent to N86.8 billion from N106.2 billion recorded in the third quarter (Q3) of 2013.

Gross earnings increased from N255.2 billion in Q3 2014 to N273.7 billion in the review period of 2014; showing an increase of 7.2 per cent.

Again, Loans and Advances rose to N1.53 trillion from N1.11 trillion recorded in the erstwhile year.

Furthermore, Total Liabilities and Equity advanced to N3.4 trillion from the N2.9 trillion recorded in the prior year.

Total Shareholders' Equity leaped to N523.9 billion from N482.5 billion.