Zenith Bank gross earnings drop

Zenith Bank Plc on Thursday released its results for the nine months ended September 30, 2018, and it shows that gross earnings of the tier one bank fell from N531 billion in 2017 to N474 billion by the end of September.

This drop, National Daily gathered amounted to a 10.7% decline year on year. However, the bank’s profit before tax increased from N152 billion in 2017 to N167 billion in 2018. This amounts to a 9.8% increase year on year.

Profit after tax also increased from N129 billion in 2017 to N144 billion in 2018. That amounts to an 11.6% increase year on year. Earnings per share increased from N4.11 in 2017 to N4.58 in 2018. This amounts to a 11.4% increase year on year.

Zenith Bank is currently trading at N22.40 in today’s trading session on the Nigerian Stock Exchange.

Meanwhile, Nigerian Stock Exchange ended today’s trading session on a positive note. The All Share index closed at 32,664.63 basis points, up 0.70%.  Year to date, the index is down 14.59%

Law Union and Rock Insurance Plc was the best performing stock today. The stock closed at 6.38%, at N0.50. Prestige Assurance closed at N0.52, up 6.12% Consolidated Hallmark Insurance closed at N0.29, up 3.57%.

Vitafoam Plc, was the worst performing stock today. The stock closed at N3.15, down 10%.  C and I Leasing closed at N2.71, down 9.67%. UAC Properties closed at N1.63, down 9.44%.

Guaranty Trust Bank was the most traded stock by volume today. 54.8 million shares valued at N2.0 billion in 164 deals. Zenith Bank was next with 37.1 million shares valued at N842 million were traded in 240 deals. First Bank rounds up the top three with 10.9 million shares valued at N100 million traded in 199 deals.