Zenith Bank Plc has announced its unaudited results for the first quarter ended 31st March 2022, with an impeccable growth of 22% in Gross Earnings from N157.3 billion reported in Q1 2021 to N191.5 billion in Q1 2022.
From the unaudited statement of account presented to the Nigerian Exchange (NGX) on Thursday, 28th April 2022, the strong double-digit growth in the topline culminated in an increase in the bottom line, as the Group recorded an 11% Year-on-Year (YoY) increase in profit before tax, growing from N61.02 billion in Q1 2021 to N67.99 billion in Q1 2022.
Profit after tax also grew by 10%, from N53.06 billion to N58.19 billion over the same period. The growth in the topline arose from both interest income and non-interest income. Interest income grew by 25%, from N101.12 billion in Q1 2021 to N126.38 billion in Q1 2022, while non-interest income grew by 12%, from N51.20 billion to N57.23 billion.
The growth in interest income and non-interest income arose from the combined effects of an improvement in interest income on loans and advances (as risk assets continue to grow and pricing is gradually improving) and an improvement in non-interest income as the Bank continues to deploy its retail strategy, thereby acquiring more customers and expanding its electronic banking income from the increased volume of transactions across all its channels.
Total assets grew by 9% from N9.45 trillion to N10.32 trillion in 2022, mainly driven by growth in customers’ deposits. Customer deposits grew by 12%, from N6.47 trillion in December 2021 to N7.25 trillion in March 2022. Savings account balance, which is solely retail grew by over N68 billion and is a validation of the robust customer acquisition strategy and versatile electronic platforms and digital channels.
Loans and advances also grew by 6%, from N3.5 trillion in December 2021 to N3.7 trillion in March 2022, boosting the Group’s interest income and displaying the Group’s appetite for high-yielding risk assets creation.
This development also helped to boost the net interest margin (NIM), as it improved from 6.0% in March 2021 to 7.3% in the current period, while the capital adequacy ratio improved slightly from 21.1% to 22.1%.
Going into the remainder of 2022, the Group will continue to focus on sustainable growth across all its business segments and deploy technology platforms and digital assets intuitively to serve its various customers’ needs to deliver enhanced returns to its stakeholders.
Zenith Bank’s track record of excellent performance has earned the brand numerous awards, including being voted as Best Bank in Nigeria in the Global Finance World’s Best Banks Awards, for three consecutive years from 2020 to 2022, Best Commercial Bank in Nigeria in the World Finance Banking Awards 2021, Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020, and Best in Corporate Governance’ Financial Services’ Africa 2020 and 2021 by the Ethical Boardroom. Also, the Bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021, Number One Bank in Nigeria by Tier-1 Capital in the “2021 Top 1000 World Banks” Ranking by The Banker Magazine and the Retail Bank of the year at the BusinessDay Banks and Other Financial Institutions (BOFI) Awards 2020 and 2021.
Similarly, Zenith Bank was honoured as Bank of the Decade (People’s Choice) at the ThisDay Awards 2020 and emerged winner in four categories at the Sustainability, Enterprise, and Responsibility (SERAS) Awards 2021, carting home the awards for “Best Company in Reporting and Transparency”, “Best Company in Infrastructure Development”, “Best Company in Gender Equality and Women Empowerment”, and the coveted “Most Responsible Organisation in Africa.
Why I Am Creating More Millionaires Through HOMEWIN Sujimoto boss, Sijibomi Ogundele, On His New Project
The likes of Sijibomi Ogundele,CEO,GMD, Sujimoto Group of Companies seldom come easy in Nigeria’s highly unpredictable Real Estate terrain. This is because Suji…as fondly called by friends, not only dreams big, whatever he touches also turns gold.Ask even the big names in Nigeria’s Real Estate sector and they’ll readily tell you the guy is completely in a world of his own. Say what you like,there are those with the narrative that Sujimoto leads,others simply follow. Recently,the suave entrepreneur took to the streets of Lagos for the Launch of his new initiative ,HOMEWIN and he chose Oke-Arin,the epicenter of Nigeria’s biggest Retail market as a strategic location, using it’s commercial environs as a bedrock to declare war on poverty and raise the common man. Ogundele says HOMEWIN can be regarded as the ‘stock market ‘of the common man. Sujimoto”s newest project has been adjudged to be Nigeria’s biggest giveaway promo.With just N500,you can win amazing prizes ranging from a home worth N50 million.Other prizes include 2 brand new cars, salary4life (💯 k for 10 years)to immense daily cash prizes.A total sum of 100million will be won in 100 days. HOMEWIN is expected to produce over 11,000 winners in a hundred days. In this interview with Celebrityplusnonline, Ogundele talks about HOMEWIN , presently adjudged as the fastest cashout route for many.He also touched on the idea behind his much-hyped Luxury living projects and his will to make more Nigerians Millionaires within a hundred days…Enjoy it
Q1: Promos here and there with almost the same template, honestly, Nigerians want something new…what makes HOMEWIN different from the pack?
Homewin is more than a promo, it is a strategic empowerment initiative, powered by Sujimoto, to get over 11,000 Nigerians out of Poverty – the biggest intervention ever!
Homewin is very personal to me because in December 2020 while distributing Christmas Hampers on the streets of Lagos, I bumped into a pregnant lady hawking her wares around Maryland bus stop with a very big stomach. The total value of her merchandise should be below N3000 and I thought no matter how much profit she made, it would never get her out of poverty, I decided to support her and give her child a lifetime scholarship, however and very unfortunately, she lost the child. This inspired me to create an avenue to impact the lives of every Nigerian and give them an equal opportunity to be part of a promo that can get them out of poverty with as little as N500. This was how HOMEWIN was born.The idea is to give every Nigerian the opportunity to move out of the cycle of poverty by converting their N500 into a home worth 50 million naira and win lots of cash prizes daily within a 100 days. It is not profit driven, but an avenue to drive our generosity movement and touch more lives.
Q2: Who can play?
Anyone can play. HOMEWIN cuts across all strata and classes,Bankers, Street Hawkers, Businessmen, Market women, Lawyers, Doctors, Mechanics, Housewives, Vulcanizer, students, everyone is playing and winning already.
Q3: You had the Launch recently in the heart of Lagos Island, Oke-Arin,why did you choose such location and what has been the reaction of People to HOMEWIN?
It was very important for me to launch HOMEWIN in the marketplace where I grew up and the place I call home. I was super excited to see that the first lady that gave us her space to use for HOMEWIN was the first person to win 50,000 at the launch. That for me was a success.Nigerians love HOMEWIN and the reception has been mind-blowing as more people are playing, exceeding our expectations, to the point where we had to increase our daily wins at different times to accommodate more winners.
Q4: How swift do winners redeem their cash out?
We don’t joke with payment.In less than 24 hours, as soon as the daily draw is concluded, all Winners are notified via SMS of their winnings and credited immediately.
Q5: How can someone interested in being an Agent of HOMEWIN go about it?
Becoming an agent on the HOMEWIN platform is another way to make steady income and earn millions monthly. As an agent with HOMEWIN, you decide what you want to earn weekly and monthly.If you want to go home with a million naira every month, it is up to you. The more people that play with you, the more you earn in commission and there are no limit when it comes to how much you can earn. Visit https://agents.playhomewin.com/ to learn how to become an Agent.
Q6: Why are you being generous?
For us as a brand, generosity is not a CSR initiative or a competition, it is a lifestyle. I believe that when your neighbour is hungry, your chicken is not safe and this is one of the reasons we started the generosity movement through HOMEWIN, to be able to empower a lot of Nigerians within the space of a 100 days.
Q7: Can anyone interested in co-investing in HOMEWIN come in?
Why not? Anyone who has 1 Billion naira or more to invest can come on board.
Q8: What do you expect this project to do for the SUJIMOTO brand?
For us at Sujimoto,giving back to the society is imprinted in our DNA and it is fundamental to the brand’s philosophy. You can’t be a customer-centric brand and not be generous, neither can you create record breaking projects like the *Giuliano* , *Lucrezia* and the *Leonardo* without focusing on the comfort of your clients.
HOMEWIN is a Sujimoto CSR initiative. It is one way Sujimoto is empowering Nigerians and transforming their lives financially. At the end of 100 days, we want Nigerians to be able to say, because of Sujimoto, I am now a millionaire and can now live my best life.
Q9 Can you shed light on all the Luxury projects by SUJIMOTO ongoing right now and how investors/buyers can tap in.?
Top on the list is the *LuceziaBySujimoto* . This is not your regular tower; it is customized to reflect the personal taste and lifestyle of the *Lucrezia* *de* *Medici* , the 16th century sophisticated royalty who embodied an exclusive and glamorous lifestyle. It is located in Africa’s richest neighborhood, Banana Island and the 15-floor tower is unarguably the most sophisticated residential building in Africa. Currently at the finishing stages, the *Lucrezia* , a product of delicate engineering, masterfully designed with premium and unrivalled amenities, is a building of so many FIRSTS in Africa! First building in Nigeria with a Glass Reinforced Concrete (GRC) facade, home to Africa’s 1st interactive lobby, first Virtual Golf Bar with over 2500 courses; first building with an International SPA for the residents; first building with Zaha Hadid sanitary wares and Kohler Kitchen, first building with an IMAX cinema for an immersive experience; first building with Electric Car Charging Stations and now the first building with a Crestron Automation where you can easily command, monitor and adjust your lights, shades, thermostats, door locks, entertainment and even your pool and spa from just one App.
The next is the *LeonardoBySujimoto* , a Waterfront high-rise development inspired by the exceptional works and genius of one of the world’s most iconic minds of the 16th century – *Leonardo* *Da* *Vinci* . The *Leonardo* will come with unrivalled features and top of the range facilities such as IMAX Cinema, Indoor Virtual Golf where you can play on over 2500 golf courses in the world, Crèche for children – first of its kind, Award Winning Zaha Hadid Bathroom, designer Kitchen by Kohler, Interactive Lobby, Full Home Automation, Indoor salon, Club House, Mini-Mart, Restaurant, Tennis Court, State of the Art Techno gym, Infinity Swimming Pool, Squash, Badminton and many more exclusive features, making it compete beyond the shores of Africa.
We also have the *Sujimoto* *twin* *tower* , a 44 storey building in Victoria Island, The *Jumeriah* , a 33 storey building in Central Business District, Abuja, *Mr* . *Meat* , *Suji* *Water* and many other projects.
Ex -Banker, Victor Adoji wins Kogi East Senatorial Seat Primaries
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Adoji,a former banker scored 177 votes to beat his closest rivals, Aminu Abubakar 54, Elder Ubolo Okpanachi 42 while ex-Chief of Air Staff, Isaac Alfa scored a consolatory 20 votes.
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