zenith bank investor presentation 2022

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Zenith Bank Plc

Ngzenithbnk9.

• Zenith Bank : H1 2022 - Presentation

© 2022 ZENITH BANK PLC | First Half Group Results Presentation to Investors & Analysts

This presentation is based on the consolidated financial statements of Zenith Bank Plc, a company incorporated in Nigeria on 30 May 1990, and its subsidiaries (hereinafter collectively referred to as "the Group"). The financial statements are prepared in accordance with the International Financial Reporting Standard (IFRS), and the going concern principle under the historical cost convention as modified by the measurement of certain financial instruments held at fair value.

The preparation of financial statements in accordance with IFRS requires the use of estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and disclosures at the date of the financial statements. Although these estimates are based on the Directors' best knowledge of current events and actions, actual results may differ from those estimates.

© 2022 ZENITH BANK PLC | First Half Group Results Presentation to Investors & Analysts | Page 3

Overview of

Nigerian Economy and Key Developments in the Banking Sector

Real GDP Growth:

• Nigeria's real GDP grew by 3.11% y/y in Q1 2022. While this is lower than the 3.98% GDP recorded in Q4 2021 by 0.87%, it however indicates the positive path of the economy for the sixth consecutive quarter since the recession in 2020.
• The oil sector contracted by 26.04% y/y and contributed 6.63% to total real GDP in Q1 2022 while the non-oil sector expanded by 6.08% and contributed the balance of 93.37%. The expansion in non-oil sector was driven mainly by the Information and Communication (Telecommunication) sector while other drivers include Trade, Financial and Insurance (Financial Institution), Agriculture (Crop Production) and Manufacturing (Food, Beverage & Tobacco).

Headline Inflation:

• Headline inflation increased to 19.64% y/y in Jul'22 from 18.60% y/y recorded in Jun'22 .
• Over the same period, food inflation grew by 142 bps to close at 22.02% y/y while core inflation rose by 51 bps to close at 16.26% y/y.

Oil Production & Price:

• OPEC average monthly basket price increased by 3.7% in the 2 nd quarter of 2022, from $113.5/bbl recorded in Mar'22 to $117.7/bbl recorded in Jun'22. The average daily basket price currently stands at $98.7/bbl as at 22nd Aug. 2022.
• Nigeria recorded an average daily oil production of 1.24 mbpd in Q2 2022, a decrease of 0.25 mbpd from 1.49 mbpd recorded in Q1 2022.

GDP Growth Rate

Inflation Rate

Foreign Reserves:

• Nigerian foreign reserves declined by 0.76% QoQ from $39.5bn recorded at the end of Q1 2022 to $39.2bn recorded at the end of Q2 2022. The foreign reserves currently stands at $38.9bn as at 18 th Aug. 2022.

Exchange Rate:

• The local currency (NGN) appreciated by about 0.7% against the USD in H1 2022 at the NAFEX (I&E) window. Exchange rates (NGN/USD) as at end of June 2022: NAFEX - 421.29 (December 2021: NAFEX- 424.11)

Foreign Reserves / Oil Price

This is an excerpt of the original content. To continue reading it, access the original document here .

Attachments

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Zenith Bank plc published this content on 25 August 2022 and is solely responsible for the information contained therein. Distributed by Public , unedited and unaltered, on 25 August 2022 13:07:04 UTC .

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Zenith Bank reports ‘best ever’ profit of N679.9 billion in 2023

Image Credit: Zenith Bank

Zenith Bank Plc, one of Nigeria’s largest banks, published its audited accounts for the fiscal year 2023, showcasing gross earnings of N2.13 trillion.

This represents a growth of 125.4% year on year and is the highest gross earnings ever reported in the company’s history.

The bank also reported a net interest income of approximately N736.18 billion, more than double what was reported in the previous year.

Profit after tax for the period under review rose by 202% to N679.9 billion, setting another significant record for the company.

Furthermore, the group accrued an FX revaluation gain of N228.98 billion, marking a substantial appreciation from the N25.2 billion gain accrued in 2022.

Key Highlights (FY 2023 vs FY 2022)  

• Gross Earnings: N2.13 trillion, +125.4% YoY  
• Net Interest Income: N736.18 billion, +100.8% YoY  
• Net Income on Fees and Commission: N109.31 billion, -17.7% YoY  
• Trading Gains: N566.97 billion, +166.6% YoY  
• Profit Before Tax: N795.96 billion, +179.6% YoY  
• Profit After Tax: N676.91 billion, +202.3% YoY  
• Earnings per share: N21.55, +201.8% YoY  
• Loans and Advances: N6.57 trillion, +63.4% YoY  
• Total Assets: N20.37 trillion, +65.8% YoY  
• Total Shareholders’ Equity: N2.32 trillion, +68.5% YoY  
• Retained Earnings: N1,179,390 vs N625,005
• Proposed Dividends: N3.50 per share (Total for the year N4 per share)

Zenith Bank’s exceptional performance can largely be attributed to a significant surge in its interest income, where it amassed a staggering N1.1 trillion.

• However, the bank allocated a substantial provision of about N409.6 billion, reducing its Net Interest Income after provisioning to N326.5 billion.
• This considerable provision may be linked to the bank’s challenges in utilizing its vast retained earnings for dividend payments, especially after the central bank’s recent decision to exclude retained earnings from its calculation of a bank’s share capital.
• Moreover, Zenith Bank significantly benefited from the foreign exchange rate, garnering an estimated N228.9 billion from forex revaluation gains.

The bank also reported N566.9 billion from trading gains. Interest income from treasury bills in 2023 soared to N179.0 billion, representing a 310.4% growth from the N43.6 billion recorded in 2022.

• Additionally, interest income from government and other bonds reached N187.4 billion in 2023.
• A major contributor to fees and commission income for Zenith Bank during the fiscal year was electronic product fees, which amounted to N51.8 billion, marking a 13.3% increase from the N45.7 billion posted in 2022.
• In 2023, the group’s capital adequacy ratio climbed to 22%, up from 20% in 2022.

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New bank charter applications of 2022: Zenith Bank & Trust files

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• 6 Jul, 2022
• Author Syed Muhammad Ghaznavi Xylex Mangulabnan
• Theme Healthcare & Pharmaceuticals Real Estate Banking Fintech Insurance

Zenith Financial Holding Co., the holding company for Scottsdale, Ariz.-based Zenith Bank & Trust, filed a deposit insurance application with the Federal Deposit Insurance Corp. on June 23.

The proposed organization will operate as a commercial bank, providing traditional banking products as well as trust services for customers in the Scottsdale-Phoenix area. Additionally, the bank will provide access to investment management services provided by registered investment adviser affiliates.

In this analysis, S&P Global Market Intelligence examined new bank charter applications since 2021. Bank holding companies, shelf charter banks and banks established after charter conversion were excluded.

Daniel Thompson, former president, organizer and founding board member of First Western Trust Bank, will be Zenith's CEO.

The bank seeks to raise a maximum of $22 million.

Bank charter applications

So far this year, there have been 14 bank charter applications, including two withdrawn applications, from Boca Raton, Fla.-based PayServices and Las Vegas-based Capital Preferred Savings Bank.

Scottsdale, Ariz.-based Gainey Business Bank and Murrieta, Calif.-based Legacy Bank began operations June 8 and June 10, respectively, becoming the 8th and 9th de novo banks to open in 2022.

*View U.S. industry data for commercial banks , savings banks , and savings and loan associations . *Access more details on banks in organization and de novo banks and thrifts .

Applications by state

With Zenith Bank & Trust's application, Arizona is now tied with California at three pending or approved, but not opened, bank deposit insurance applications.

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• Healthcare & Pharmaceuticals Real Estate Banking Fintech Insurance

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40 facts about elektrostal.

Written by Lanette Mayes

Modified & Updated: 02 Mar 2024

Reviewed by Jessica Corbett

Elektrostal is a vibrant city located in the Moscow Oblast region of Russia. With a rich history, stunning architecture, and a thriving community, Elektrostal is a city that has much to offer. Whether you are a history buff, nature enthusiast, or simply curious about different cultures, Elektrostal is sure to captivate you.

This article will provide you with 40 fascinating facts about Elektrostal, giving you a better understanding of why this city is worth exploring. From its origins as an industrial hub to its modern-day charm, we will delve into the various aspects that make Elektrostal a unique and must-visit destination.

So, join us as we uncover the hidden treasures of Elektrostal and discover what makes this city a true gem in the heart of Russia.

Key Takeaways:

• Elektrostal, known as the “Motor City of Russia,” is a vibrant and growing city with a rich industrial history, offering diverse cultural experiences and a strong commitment to environmental sustainability.
• With its convenient location near Moscow, Elektrostal provides a picturesque landscape, vibrant nightlife, and a range of recreational activities, making it an ideal destination for residents and visitors alike.

Known as the “Motor City of Russia.”

Elektrostal, a city located in the Moscow Oblast region of Russia, earned the nickname “Motor City” due to its significant involvement in the automotive industry.

Home to the Elektrostal Metallurgical Plant.

Elektrostal is renowned for its metallurgical plant, which has been producing high-quality steel and alloys since its establishment in 1916.

Boasts a rich industrial heritage.

Elektrostal has a long history of industrial development, contributing to the growth and progress of the region.

Founded in 1916.

The city of Elektrostal was founded in 1916 as a result of the construction of the Elektrostal Metallurgical Plant.

Located approximately 50 kilometers east of Moscow.

Elektrostal is situated in close proximity to the Russian capital, making it easily accessible for both residents and visitors.

Known for its vibrant cultural scene.

Elektrostal is home to several cultural institutions, including museums, theaters, and art galleries that showcase the city’s rich artistic heritage.

A popular destination for nature lovers.

Surrounded by picturesque landscapes and forests, Elektrostal offers ample opportunities for outdoor activities such as hiking, camping, and birdwatching.

Hosts the annual Elektrostal City Day celebrations.

Every year, Elektrostal organizes festive events and activities to celebrate its founding, bringing together residents and visitors in a spirit of unity and joy.

Has a population of approximately 160,000 people.

Elektrostal is home to a diverse and vibrant community of around 160,000 residents, contributing to its dynamic atmosphere.

Boasts excellent education facilities.

The city is known for its well-established educational institutions, providing quality education to students of all ages.

A center for scientific research and innovation.

Elektrostal serves as an important hub for scientific research, particularly in the fields of metallurgy, materials science, and engineering.

Surrounded by picturesque lakes.

The city is blessed with numerous beautiful lakes, offering scenic views and recreational opportunities for locals and visitors alike.

Well-connected transportation system.

Elektrostal benefits from an efficient transportation network, including highways, railways, and public transportation options, ensuring convenient travel within and beyond the city.

Famous for its traditional Russian cuisine.

Food enthusiasts can indulge in authentic Russian dishes at numerous restaurants and cafes scattered throughout Elektrostal.

Home to notable architectural landmarks.

Elektrostal boasts impressive architecture, including the Church of the Transfiguration of the Lord and the Elektrostal Palace of Culture.

Offers a wide range of recreational facilities.

Residents and visitors can enjoy various recreational activities, such as sports complexes, swimming pools, and fitness centers, enhancing the overall quality of life.

Provides a high standard of healthcare.

Elektrostal is equipped with modern medical facilities, ensuring residents have access to quality healthcare services.

Home to the Elektrostal History Museum.

The Elektrostal History Museum showcases the city’s fascinating past through exhibitions and displays.

A hub for sports enthusiasts.

Elektrostal is passionate about sports, with numerous stadiums, arenas, and sports clubs offering opportunities for athletes and spectators.

Celebrates diverse cultural festivals.

Throughout the year, Elektrostal hosts a variety of cultural festivals, celebrating different ethnicities, traditions, and art forms.

Electric power played a significant role in its early development.

Elektrostal owes its name and initial growth to the establishment of electric power stations and the utilization of electricity in the industrial sector.

Boasts a thriving economy.

The city’s strong industrial base, coupled with its strategic location near Moscow, has contributed to Elektrostal’s prosperous economic status.

Houses the Elektrostal Drama Theater.

The Elektrostal Drama Theater is a cultural centerpiece, attracting theater enthusiasts from far and wide.

Popular destination for winter sports.

Elektrostal’s proximity to ski resorts and winter sport facilities makes it a favorite destination for skiing, snowboarding, and other winter activities.

Promotes environmental sustainability.

Elektrostal prioritizes environmental protection and sustainability, implementing initiatives to reduce pollution and preserve natural resources.

Home to renowned educational institutions.

Elektrostal is known for its prestigious schools and universities, offering a wide range of academic programs to students.

Committed to cultural preservation.

The city values its cultural heritage and takes active steps to preserve and promote traditional customs, crafts, and arts.

Hosts an annual International Film Festival.

The Elektrostal International Film Festival attracts filmmakers and cinema enthusiasts from around the world, showcasing a diverse range of films.

Encourages entrepreneurship and innovation.

Elektrostal supports aspiring entrepreneurs and fosters a culture of innovation, providing opportunities for startups and business development.

Offers a range of housing options.

Elektrostal provides diverse housing options, including apartments, houses, and residential complexes, catering to different lifestyles and budgets.

Home to notable sports teams.

Elektrostal is proud of its sports legacy, with several successful sports teams competing at regional and national levels.

Boasts a vibrant nightlife scene.

Residents and visitors can enjoy a lively nightlife in Elektrostal, with numerous bars, clubs, and entertainment venues.

Promotes cultural exchange and international relations.

Elektrostal actively engages in international partnerships, cultural exchanges, and diplomatic collaborations to foster global connections.

Surrounded by beautiful nature reserves.

Nearby nature reserves, such as the Barybino Forest and Luchinskoye Lake, offer opportunities for nature enthusiasts to explore and appreciate the region’s biodiversity.

Commemorates historical events.

The city pays tribute to significant historical events through memorials, monuments, and exhibitions, ensuring the preservation of collective memory.

Promotes sports and youth development.

Elektrostal invests in sports infrastructure and programs to encourage youth participation, health, and physical fitness.

Hosts annual cultural and artistic festivals.

Throughout the year, Elektrostal celebrates its cultural diversity through festivals dedicated to music, dance, art, and theater.

Provides a picturesque landscape for photography enthusiasts.

The city’s scenic beauty, architectural landmarks, and natural surroundings make it a paradise for photographers.

Connects to Moscow via a direct train line.

The convenient train connection between Elektrostal and Moscow makes commuting between the two cities effortless.

A city with a bright future.

Elektrostal continues to grow and develop, aiming to become a model city in terms of infrastructure, sustainability, and quality of life for its residents.

In conclusion, Elektrostal is a fascinating city with a rich history and a vibrant present. From its origins as a center of steel production to its modern-day status as a hub for education and industry, Elektrostal has plenty to offer both residents and visitors. With its beautiful parks, cultural attractions, and proximity to Moscow, there is no shortage of things to see and do in this dynamic city. Whether you’re interested in exploring its historical landmarks, enjoying outdoor activities, or immersing yourself in the local culture, Elektrostal has something for everyone. So, next time you find yourself in the Moscow region, don’t miss the opportunity to discover the hidden gems of Elektrostal.

Q: What is the population of Elektrostal?

A: As of the latest data, the population of Elektrostal is approximately XXXX.

Q: How far is Elektrostal from Moscow?

A: Elektrostal is located approximately XX kilometers away from Moscow.

Q: Are there any famous landmarks in Elektrostal?

A: Yes, Elektrostal is home to several notable landmarks, including XXXX and XXXX.

Q: What industries are prominent in Elektrostal?

A: Elektrostal is known for its steel production industry and is also a center for engineering and manufacturing.

Q: Are there any universities or educational institutions in Elektrostal?

A: Yes, Elektrostal is home to XXXX University and several other educational institutions.

Q: What are some popular outdoor activities in Elektrostal?

A: Elektrostal offers several outdoor activities, such as hiking, cycling, and picnicking in its beautiful parks.

Q: Is Elektrostal well-connected in terms of transportation?

A: Yes, Elektrostal has good transportation links, including trains and buses, making it easily accessible from nearby cities.

Q: Are there any annual events or festivals in Elektrostal?

A: Yes, Elektrostal hosts various events and festivals throughout the year, including XXXX and XXXX.

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Our commitment to delivering trustworthy and engaging content is at the heart of what we do. Each fact on our site is contributed by real users like you, bringing a wealth of diverse insights and information. To ensure the highest standards of accuracy and reliability, our dedicated editors meticulously review each submission. This process guarantees that the facts we share are not only fascinating but also credible. Trust in our commitment to quality and authenticity as you explore and learn with us.

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• Victor Mukhin

Victor M. Mukhin was born in 1946 in the town of Orsk, Russia. In 1970 he graduated the Technological Institute in Leningrad. Victor M. Mukhin was directed to work to the scientific-industrial organization "Neorganika" (Elektrostal, Moscow region) where he is working during 47 years, at present as the head of the laboratory of carbon sorbents.     Victor M. Mukhin defended a Ph. D. thesis and a doctoral thesis at the Mendeleev University of Chemical Technology of Russia (in 1979 and 1997 accordingly). Professor of Mendeleev University of Chemical Technology of Russia. Scientific interests: production, investigation and application of active carbons, technological and ecological carbon-adsorptive processes, environmental protection, production of ecologically clean food.   

Title : Active carbons as nanoporous materials for solving of environmental problems

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