Zenith Bank Drives Earnings Higher

Godwin Emefiele, Group Managing Director, Zenith Bank Plc,
Godwin Emefiele, Group Managing Director, Zenith Bank Plc,

Zenith Bank Plc grew its Earnings per Share (EPS) by 21 basis points in its first quarter financial period of the financial year ending December 31, 2013.

The figure rose from 61kobo per share in March 31, 2012 to 74kobo in March 31, 2013. It means that the management of the bank in the review quarter increased its capacity to cut cost and keep more money for shareholders of the company as 74 kobo was retained as earnings from every 100kobo income made by the bank in the period.

In first quarter ended March 31, 2012, only 61kobo was kept as earning from every 100kobo income made.

As a result of the bank’s ability to curtail cost in the review financial period, profit after tax moved from N19.23billion in March 2012 to N23.27billion in March 2013, representing increase of 22 per cent.

Howbeit,  the bank’s cash flow statement for the period showed that working capital (operating cash flow) suffered a major setback  as it dropped by 65 per cent from N127.90billion in March 31, 2012 to N44.71billion in March 31, 2013.