Zenith Bank Ghana’s profit dips by GHS54.3m

Zenith Bank Ghana Limited has declared GHS115, 080,140 as profit before income tax in 2015 as against GHS200, 128,038 in 2014.

In its statement of comprehensive income for the year ended December 31, Zenith Bank said total taxation for the full-year was GHS32,003,197 as against GHS62, 727,973 in 2014.

It said profit after tax attributable to equity holders of the Bank for 2015 was GHS83, 076,943 as against GHS137, 400,065 in 2014, a slump of GHS54, 323,122.

Total comprehensive income attributable to equity holders of the Bank was, therefore, GHS83, 076,943 as against GHS137, 400,065.

Net interest income for 2015 was GHS276, 187,598 as against GHS61,904,696 in 2014 while net trading and other income for 2015 was GHS100,560,892 as against GHS95, 976,919 in 2014. Total operating income was GHS376,748,490 in 2015 as against GHS357,881,615 in 2014.

As far as the financial position of the bank is concerned as of December 31, Zenith said its total asset was GHS2, 549,130,057 in 2015 as against GHS3, 073,359,215 in 2014.

Total liabilities was GHS2,114,609,580 in 2015 as against GHS2,721,915,681 in 2014. Total Equity was GHS434, 520,477 in 2015 as against GHS351,443,534 in 2014.

Total equity and liabilities was GHS2, 549,130,057 in 2015 as against GHS 3,073,359,215 in 2014.

The financial statements of the Bank were approved by the Board of Directors on February 11, 2016 and signed on the Board’s behalf by Mr Daniel Asiedu (Managing Director/CEO), who recently resigned and has been appointed as MD by the Agricultural Development Bank, and Henry Benyah, Director.

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