Zenith Bank records turnover increase

Zenith Bank records turnover increase

More banks have filed in their first quarter financial reports to the Nigerian stock exchange.

One of such banks is Zenith bank, which has declared a 33.4 percent increase in its turnover from N54.25 billion in 2011 to N72.35 billion for the period under review.

Profit before tax and profit after tax also increased by 25.4 and 26 percent respectively while it’s net assets increased by 5.6 percent to 397.83 billion naira.

However, the National Aviation Handling Company (NAHCO) for the first quarter of the year recorded a 2.2 percent drop in its revenue from N1.59 billion to N1.56 billion.

Its profit before tax and profit after tax fell by 43.9 and 47.3 percent to N283.17 million and N192.55 million.

The company’s net assets also fell by four percent to N4.88 billion.

Source: Naij.com

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