By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Nigeria’s Zenith Bank Plc Monday reported a 50.6 percent (50.6%) Total Profit for the Third Quarter (Q3) Report for the Period Ended September 30 2012.

This is contained in the Statement of Comprehensive Income released Monday to the Nigerian Stock Exchange (NSE) and made available to www.investadvocateng.com in Lagos Nigeria.

To record the 51% increase in Total Profit for the Period, the Bank reported a Profit of N42.537 billion in the Nine Months Period of 2012 compared to N64.061 billion in the same period of 2012.

Total Profit Before Tax (PBT) for the review period is N53.129 billion in the Q3 of 2011 compared to N75.223 billion in the Q3 of 2012; indicating an increase of 41.6%.

Gross Earnings also grew to N25.2% in the review period as the Bank recorded N229.161 billion in the Nine Months Period of 2012 compared to N183.067 billion in the same period of 2011.

Godwin Emefiele Group Managing Director/Chief Executive Officer (GMD/CEO) of Nigeria’s Zenith Bank said in a Statement that given the available micro-economic indices they are very confident that the Bank will be able to sustain this strong performance and growth trend into the fourth quarter of the year.

Zenith Bank had in July reported a growth of 32.1 percent (32.1%) in Profit After Tax (PAT) in its Second Quarter (Q2) Report for the Period Ended June 30, 2012.

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