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Zenith Bank records growth in Total Assets

Mr Henry Oroh-MD CEO Zenith Bank
Managing Director/Chief Executive Officer of Zenith Bank Ghana, Henry Oroh
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The nine months unaudited Financial Statement of Zenith Bank has shown that the bank’s stated capital hit 400 million cedis by 30th September, meeting the minimum capital requirement ahead of the deadline by December 31st 2018.

Earlier, the Chief Executive Officer of the Bank, Henry Oroh had indicated that the bank had raised the capital requirement.

According to the financial statement published by the bank, its total assets as at 30th September 2018 stood at about 5.7 billion cedis.

Compared to the same period in 2017, the Bank’s total asset was at about 4.1 billion cedis.

Total liabilities of the bank which include borrowings, deposits from customers, Deposits from banks and NBFIs, current tax payable, and other liabilities stood at 4.8 billion cedis by 30th September.

In 2017, under the same period, zenith bank’s total liabilities was at 3.4 billion cedis.

Its profit after tax was at about 147 million cedis by September 2018, compared to about 108 million cedis in the same period in 2017.

The publication also shows that Zenith Bank’s Capital adequacy ratio which is a comparison of a bank’s capital to its assets grew from 24.3 percent in September 2017 to 30.86 percent in the same period this year.

The Non- Performing Loans to gross loans also grew from 11.63 in 2017 to 14.50 percent in September 2018.

By: Lawrence Segbefia/citibusinessnews.com/Ghana


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