Zenith Bank grows 43.6 percent turnover

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April 26, 2006/businessday




The Zenith Bank has recorded a turnover increase of 43.6 per cent in its financial year ended December 31, 2006.

According to the un-audited result released by the bank to dealers at the Nigerian Stock Exchange, rose up from N29.3 billion of 2004 to N42.1 billion in the period under view. Its profit after tax was N9 billion, 44 per cent increase when compared to the N6.25 billion at which it closed in 2004.

Following the technical suspension placed on the share price Zenith Bank’s share price since the commencement of its public offer that ended last month, price has remained unchanged from the N19.64 per share when the offer opened.

The technical suspension on share price of the bank would be lifted after the bank must have allotted and list shares it offered to the public.

The earning per share of the bank was 165k, while its price earning ratio was 11.90 times with dividend yield of 3.5 per cent.

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