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Zenith Bank 9-month profit rises YOY

Nigerian lender Zenith Bank PLC reported unaudited group profit attributable to equity holders of parent of 150.61 billion naira for the nine months to September-end, up from 143.75 billion naira a year earlier.

EPS for the period increased year over year to 480 kobos from 458 kobos.

Net interest income fell on a yearly basis to 214.63 billion naira from 228.52 billion naira, while net income on fees and commission increased to 73.85 billion naira from 62.01 billion naira. Trading income amounted to 66.86 billion naira, up from the year-ago 52.93 billion naira.

The lender booked impairment charges of 18.26 billion naira in the period, compared to 14.34 billion naira a year earlier. Operating expenses amounted to 102.68 billion naira, down from the year-ago 109.93 billion naira.

As of Oct. 23, US$1 was equivalent to 362.00 Nigerian naira.