Zenith Bank Powers on with Double-digit Topline Growth in First Half 2022 Kayode Tokede In a clear demonstration of its industry leadership and consistency in providing superior financial returns, Zenith Bank Plc has announced its audited results for the half-year ended 30 June 2022, recording an astounding
double-digit growth of 17 per cent in gross earnings, from N346 billion reported in H1 2021 to N405 billion in H1 2022. This was in spite of a very challenging macroeconomic environment. According to the bank's audited half-year financial results presented
to the Nigerian Exchange (NGX) yesterday, the growth was underpinned by a 19 per cent year-on-year (YoY) growth in interest income from N204 billion to N242 billion and an 18 per cent YoY growth in non-interest income from N127 billion to N149 billion. The growth in interest income
was driven by the modest increase in the loan book and improved interest margins. The increase in non-interest income attested to the Group’s success in its income diversification strategy. Also, Zenith Bank’s profit before tax (PBT) grew by 11 per cent YoY, from N117 billion to N130 billion.
Earnings per share (EPS) also grew from N3.38 to N3.55 over same six-month period. The Group also recorded an 11 per cent year-to-date (YtD) increase in total customer deposits to close the period at N7.15 trillion. The retail strategy of the Group continued to deliver outstanding
results as retail deposits grew by 17 per cent YtD, from N1.82 trillion to N2.13 trillion. Retail activities also supported the growth recorded in fees on electronic products which grew by 45 per cent YoY, from N17 billion to N25 billion. Continued on page 10
China to Pick 17 African Countries for Debt Forgiveness, Offers $10bn in IMF Funds... Page 6 Wednesday 24 August, 2022 Vol 27. No 9997. Price: N250
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Lamido: No One Has Offended Wike, No Basis for Reconciliation
Says being governor doesn’t give him monopoly over Rivers Atiku, Rivers governor to meet in Paris amid rumour the latter is flirting with Tinubu
Chuks Okocha in Abuja Former governor of Jigawa State, Sule Lamido, yesterday, dismissed the idea of reconciliation between
the Rivers State governor, Nyesom Wike, and the presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar. Lamido said no one had offended the embittered
governor of the oil rich state. The former foreign affairs minister also sent a subliminal message to Wike, who often took pride in his supposed control of Rivers State,
saying being governor is not an indication that he also has monopoly over the state. Nonetheless, Atiku and Wike were set to meet in Paris, in
furtherance of moves to resolve the post-presidential primary crisis rocking PDP. That was amid rumour that Wike was already frolicking with the presidential candidate of
the ruling All Progressives Congress (APC), Asiwaju Bola Tinubu. The former Jigawa State governor, Continued on page 10
INEC: Electoral Process Incomplete Without Offences Commission Backs bill seeking establishment of electoral court, asks AGF to steer clear Says it secured 60 convictions in 125 cases from 2015 elections EFCC rejects bill, as PLAC requests reduced penalty for ballot snatching Gbajabiamila: Electoral crimes help riggers take control of govts
Chuks Okocha and Udora Orizu in Abuja The Independent National Electoral Commission (INEC), yesterday, lent support to the bill seeking the establishment of an electoral offences commission to prosecute election offenders, saying the electoral process cannot be complete without such a commission. Chairman of INEC, Professor Mahmood Yakubu, disclosed this in Abuja at a one-day public hearing on the “Bill for an Act to Establish National Electoral Offences Commission to Provide for the Legal Framework for Investigation and Prosecution of Electoral Offences for the general Improvement of the Electoral Process in Nigeria.” Yakubu said the proposed law would enable the commission clampdown on electoral crimes and ensure effective prosecution of electoral offenders, particularly, high-profile politicians, who sponsor Continued on page 10
A 10-YEAR PLAN FOR FOOTBALL... L-R: Chief of Staff to the President, Prof. Ibrahim Gambari; Secretary to the Government of the Federation, Mr. Boss Mustapha; President Muhammadu Buhari; Minister of Sports and Youth PHOTO: SUNDAY AGHAEZE. Development, Mr. Sunday Dare and Chairman of the Committee, Alh. Ibrahim Galadima, during an audience held at the State House Abuja...yesterday