Zenith Bank (ZENITHBANK) AGM 2025 summary

Opening remarks and agenda

• Board members, executive directors, and key stakeholders were introduced at the start of the meeting.

• The agenda included presentation of audited financial statements, director appointments, dividend declaration, and amendments to the articles of association.

Financial performance review

• Interest and similar income grew by 138%, net income by 135%, operating income by 74%, and profit after tax by 53%.

• Earnings per share reached NGN 32.87; cost of funds rose from 3.0% to 4.8%, and cost-to-income ratio increased to 38.9%.

• Non-performing loans reduced from 4.8% to 3.48%; capital adequacy ratio improved from 21% to 25.6%.

• Profit after tax was NGN 1.7 trillion, and the balance sheet grew by nearly NGN 3.7 trillion.

Board and executive committee updates

• New directors Pamela Yough, Adamu Saliu Lawani, and Louis Odom were appointed and confirmed.

• Retiring directors Chuks Emma Okoh, Peter Bamkole, Adobi Nwapa, and Akindele Ogunranti were re-elected.

• Board evaluation by KPMG found governance practices largely compliant, with recommendations for further improvement.