Zenith Bank, Nine Others Begin 2025 on Positive Momentum, Report N1.83 Trillion Profit in Q1 Kayode Tokede
Zenith Bank Plc and nine other Deposit Money Banks (DMBs) commenced 2025 on a positive momentum, generating an estimated N1.83 trillion profit before tax in the first quarter (Q1)
of the year, according to an analysis of the Q1 2025 unaudited financial statements of the nine DMBs. A review of the unaudited financial statements of Zenith Bank, Ecobank Transnational Incorporated (ETI), First Holdings Plc, Access Holdings Plc,
Guaranty Trust Holding Company Plc (GTCO), United Bank for Africa Plc (UBA), Wema Bank Plc, Fidelity Bank Plc, FCMB and Stanbic IBTC Holdings Plc during the period under review showed that the profit before tax grew by 3.5 per cent when compared to
N1.77 trillion reported in Q1 2024. Profit after tax closed Q1 2025 at N1.54 trillion, representing an increase of 4.1 per cent from N1.48 trillion in Q1 2024. THISDAY learnt that these 10 DMBs leveraged on interest income
earned from investing in high-yield government securities, interest income from loans and advances to customers, and foreign currency trading, among others to drive profit. In Q1 2025, these DMBs were faced with a range of challenges stemming
from both internal economic factors and global financial trends. Notable challenges include: Currency volatility and foreign exchange shortages, double-digit Continued on page 5
Obasanjo, Osinbajo, Obi, Abiodun, Daniel, Amosun, Cardoso, Others Bid Farewell to Afenifere Leader, Ayo Adebanjo…Page5 Sunday, May 4, 2025 Vol 30. No 10983
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In Katsina, Tinubu Vows to Secure Forests, Enhance Surveillance in North-west
Deji Elumoye in Abuja L-R: Bride’s parents, Mr. Christopher and Omolola Oshiafi; Couple, Nelson and Josephine Onuoha; Ogun State Governor, Prince Dapo Abiodun; and Lagos State Governor, Mr. Babajide Sanwo-Olu, at the solemnisation of Holy matrimony between Nelson and Josephine Onuoha held at Catholic Church of Divine Mercy, Lekki in Lagos State...yesterday SUNDAY ADIGUN
President Bola Tinubu has reaffirmed his administration's commitment to reclaiming ungoverned areas, particularly Continued on page 5
Mele Kyari: I’m Ready to Give Account of My Service Denies arrest
Emmanuel Addeh in Abuja Erstwhile Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC), Mr. Mele Kyari, yesterday declared that he was ready to give account of his service as the Economic and Financial Crimes Commission (EFCC) continues with its probe of sacked officials of the national oil company. Kyari, who was at the helm of affairs at the NNPC between 2019 and 2025, before he was removed on April 2 by President Bola Tinubu, in a post on his X handle, maintained that he served the country with the fear of God. Earlier, THISDAY learnt that the EFCC had begun investigation into the alleged abuse of office and misappropriation of funds by Kyari and a former Chief Financial Officer (CFO), Mr Umar Ajiya, as well as 12 others. Continued on page 5
PAYING LAST RESPECTS TO PA ADEBANJO…
L-R: Ogun State Governor, Dapo Abiodun; former President Olusegun Obasanjo; Daughter of the deceased, Ms Ayotunde Ayo-Adebanjo; Lagos State Governor, Mr. Babajide Sanwo-Olu; Children of the deceased, Mrs. Adeola Azeez; Obafemi Ayo-Adebanjo; and former Ogun State Governor, Senator lbikule Amosun, during the funeral service for the leader of Afenifere, Chief Ayo Adebanjo, in Isanya Ogbo, Ijebu-Ode, Ogun State...yesterday ABIODUN AJALA