Nigerian Big Banks Did Just Well in Q1 2019
The big banks did just well in Nigeria for Q1 2019 despite the fear the general election would have crippled incomes. Zenith Bank posted Profit Before Tax (PBT) of N57.3 billion. GTBank picked N57 billion. It is really amazing that banks grew income when technically many sectors of the economy “froze” as economic activities stalled over fear of post-election paralysis.
Zenith Bank Plc has posted a Profit Before Tax (PBT) of N57.3 billion in its first quarter (Q1) operations, against N54 billion recorded in the corresponding period in 2018, or a 6.1 per cent rise from N54 billion. Specifically, the bank’s unaudited Q1 result for the period ended March 31, 2019, also showed a 6.7 per cent increase in profit after tax (PAT) from N47.1 billion to N50.2 billion during the period under review.