May 4, 2026/CSL Report

Zenith Bank’s unaudited Q1 2026 results showed relatively flat performance, with Interest Income increasing by 3.8% year-on-year (y/y) to ₦869.1 billion (bn). Interest Expense however declined by 4.6% to N235.0bn, implying a reduction in funding cost. Consequently, Net Interest Income grew by 7.3% y/y. On the balance sheet, Net Loans to customers recorded modest growth of 8.9% relative to December 2025. Meanwhile, Customer Deposits rose by 0.6% over the same period.

Net Fee and Commission Income grew strongly, up 44.6% y/y. The y/y growth was driven mainly by sturdy increases in account maintenance fees, income from financial guarantee contracts issued, fees on electronic products, foreign withdrawal charges, and commission on letters of credit.

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