Known to be one of the top three banks in Nigeria, Zenith Bank plc has done it again as the company recently released its 1st quarter result for the period ended September 30, 2007.

In the result released, mthe bank grew turnover by 20.28 percent, from N23.99 billion in 2006 to N28.86 billion in the corresponding quarter of 2007.

Profit before tax stood at N10.33 billion in 2007 as against N6.41 billion recorded for 2006. This represents an increase of about 62 percent. Consequently, after taxa profit increased by 70 percent, from N4.73 billion in 2006 to N8.06 billion in 2007. Going by forecasts and the 1st quarter result, the bank would be seeking to net a profit of about N30 billion in its current year.

Zenith Bank Plc recently announced that it intends raising N250 billion for expansion amongst other things. The details of the offer however remain vague for now.