Zenith Bank's Q2 2024 Profits Soar by 370%: What It Means for the Bank and the Market

Описание: Zenith Bank has posted remarkable results for the second quarter of 2024, with pretax profits exceeding N406 billion—an impressive 370% increase from the N86.8 billion reported last year. This surge is largely attributed to significant forex-related gains and outstanding performance in their trading books, which saw profits soar to N871.6 billion for the first half of the year. With half-year pretax profits reaching N727 billion, Zenith Bank is on track to become the first commercial bank to achieve N1 trillion in annual profits by year-end. In this episode of Market Pulse, we examine the standout elements of these results, discuss the potential impact of a 70% windfall tax on the bank's future performance, and explore insights from recent discussions about stock market investments and bank growth potential. Don’t miss our detailed analysis—watch now!

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