MONDAY 1ST NOVEMBER 2021

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Zenith Bank Surmounts Headwinds, Posts N180bn Profit Before Tax in Q3 Kayode Tokede As a testament to its resilience and market leadership, Zenith Bank Plc has announced its unaudited results for the nine months period ended September 30, 2021, with a profit before tax (PBT) of

N180 billion. This represented a one per cent growth over the N177 billion recorded in the same period the previous year, amidst a challenging macroeconomic environment exacerbated by the Coronavirus (COVID-19) pandemic.

According to the group’s unaudited nine months financial results presented to the Nigerian Exchange (NGX) at the weekend, gross earnings increased by two per cent from N509 billion to N519 billion, largely due to growth in current account

maintenance fees as well as fees from electronic products during the period. Despite continuing economic uncertainties, the Group, according to a statement, grew its net earnings through reduction in its cost of funds while keeping the cost of risk

flat. This strengthened its earnings per share (EPS) by one per cent to N5.11. The Group achieved a nine per cent growth in interest income from loans and advances on the back of an increase in gross loans of nine per cent year-to-date and enhanced

efficiency, resulting in a 21 per cent drop in interest expense to N74 billion from N94 billion. This culminated in growth in net interest income of four per cent, from the N225 billion recorded at the end of the third Continued on page 8

Buhari: Climate Crisis Can't be Fixed by Causing Energy Crisis in Africa...Page 5 Monday 1 November, 2021 Vol 26. No 9702. Price: N250

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CBN Unveils ‘100 for 100’ Policy Obinna Chima

L-R (Front row): Managing Director, Ecobank Nigeria, Patrick Akinwuntan; the Catholic Archbishop of Lagos, Most Reverend Adewale Martins; Chairman, Ecobank Transnational Incorporated (ETI), Alain Nkontchou; Former Chairman, ETI, Emmanuel Ikazoboh ; Group Chief Executive Officer, ETI, Ade Ayeyemi; Executive Governor, Lagos State, Babajide Sanwo-Olu; Chairman, Ecobank Nigeria, Bola Adesola; Managing Director, Brittania- U Limited, Uju Ifejika; Former Chairman, Ecobank Nigeria , John Odeyemi at the inauguration of Ecobank Pan African Centre (EPAC) in Lagos

The Central Bank of Nigeria (CBN) has unveiled selection criteria for private sector companies to participate in its new financial instrument tagged, “The 100 for 100 PPP – Policy on Production Continued on page 8

Ayu: PDP is Back to Rescue Nigeria from Her Current Mess ȱ ¢ȱ ȱ ȱťŦ

THE MONDAY INTERVIEW

AMAECHI

"Did they tell you that they went to Obi Akpo? A sitting government shot an army Colonel and took ȱ ȱŢŠȱ ȱŢŤ Obi Akpo’s results?"

DISCUSSING VACCINE EQUITY? President of the United States of America, Mr. Joe Biden (left) and Director General, World Trade Organisation, Dr. Ngozi Okonjo-Iweala, at a G20 Summit held in Rome, Italy...yesterday


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MONDAY 1ST NOVEMBER 2021 by THISDAY Newspapers Ltd - Issuu