Zenith Bank has reported a profit before tax of N637.6 billion for the half-year ended June 30, 2026, marking a 1.9% increase year-on-year. Despite the rise in pre-tax profit, the bank’s profit after tax dropped 19.1% to N430.8 billion, driven by a significantly higher tax charge.

The results reflect a shift in the bank’s earnings drivers; while impairment charges decreased sharply by 81.5% compared to the same period in 2025, the bank recorded a N284.9 billion loss on currency trading, a reversal from the significant gains enjoyed during the previous year’s currency volatility. Net interest income also saw a 7.4% decline as lending yields compressed. However, fee and commission income provided a positive offset, growing 39.6% to N178.8 billion. Zenith Bank’s board has proposed an interim dividend of N1.50 per share, an improvement on the N1.25 paid during the same period last year.