Last week Zenith Bank made public a tax before profit of N92.18b for its mid year account for 2017 versus N53.91b in previous year. Their business grows approximately by 71 percent. But disappointingly, they declared a N0.25 dividend with its half year performance. Participant is stock market expected more than the dividend declared.
As a prudent measure the bank made provision of 30% of their loan to 9mobile for them as part of the restructuring plan for a new investors.he bank’s Chief Executive Officer, Mr. Peter Amangbo, told a conference call on Monday “We have taken about 30 per cent … as a provision which we believe is very prudent as the company is undergoing restructuring to prepare for a new investor,”.
Zenith Bank is the largest lender to 9mobile.
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