Zenith Bank

[billions]

The EPS shd be abt N3.7k...PE ratio shd be abt 6 in Dec(year end).cool.

[wanaj0]

Originally Posted by billions

The EPS shd be abt N3.7k...PE ratio shd be abt 6 in Dec(year end).cool.

When is the year end??? Sept or Dec?

[muranay@yahoo.com]

Originally Posted by wanaj0

When is the year end??? Sept or Dec?

The last thing I heard about it was that it moved its year end from JUNE to SEPTEMBER.

[zainabusman]

Originally Posted by billions

The EPS shd be abt N3.7k...PE ratio shd be abt 6 in Dec(year end).cool.

The year end is Sept as announced. Info is on their website.

[Job]

Zenith is planning to gives 1.70 per share for the 15 months, Sep. 2008, no Bonus.

Closure Date: 24-Nov-08
Payment Date: 5-Dec-08
Interim/Final :Final

Does it worth it?

[hispy99]

Latest Market Info
ZENITHBANK: 15TH MONTH ENDING 2008
ZENITH BANK PLC, PERIOD ENDED 30TH SEPTEMBER 2008



GROSS INCOME

15 MONTHS N208.293b, 12 MONTHS N94.880b

PBT 15 MONTHS N56.118b, 12 MONTHS N25.676b

TAX 15 MONTHS (N4.126b) 12 MONTHS (N6.896b)

PAT 15 MONTHS N51.992b, 12 MONTHS N18.779b

PROPOSED DIVIDEND N1.70K

CLOSURE OF REGISTER 24TH NOVEMBER 2008

PAYMENT DATE 5TH OF DECEMBER 2008

[billions]

Originally Posted by hispy99

Latest Market Info
ZENITHBANK: 15TH MONTH ENDING 2008
ZENITH BANK PLC, PERIOD ENDED 30TH SEPTEMBER 2008



GROSS INCOME

15 MONTHS N208.293b, 12 MONTHS N94.880b

PBT 15 MONTHS N56.118b, 12 MONTHS N25.676b

TAX 15 MONTHS (N4.126b) 12 MONTHS (N6.896b)

PAT 15 MONTHS N51.992b, 12 MONTHS N18.779b

PROPOSED DIVIDEND N1.70K

CLOSURE OF REGISTER 24TH NOVEMBER 2008

PAYMENT DATE 5TH OF DECEMBER 2008

This result is cool...about 11 billion naira was made in d last quater.

[zainabusman]

Originally Posted by hispy99

Latest Market Info
ZENITHBANK: 15TH MONTH ENDING 2008
ZENITH BANK PLC, PERIOD ENDED 30TH SEPTEMBER 2008


GROSS INCOME

15 MONTHS N208.293b, 12 MONTHS N94.880b

PBT 15 MONTHS N56.118b, 12 MONTHS N25.676b

TAX 15 MONTHS (N4.126b) 12 MONTHS (N6.896b)

PAT 15 MONTHS N51.992b, 12 MONTHS N18.779b

PROPOSED DIVIDEND N1.70K

CLOSURE OF REGISTER 24TH NOVEMBER 2008

PAYMENT DATE 5TH OF DECEMBER 2008

This is a clear case of Tax management. They are paying N4.1 billion taxes on a profit of N56 billion. That is just 7%! Can this be right? They paid N6.9 billion on a profit of N25.7 billion in 2007. So what is going on?

I need to see the accounts b4 i sing any praises. Clearly Zenith wanted to declare the biggest PAT. Perhaps Oceanic will beat them if they do the same tax management.

7%? I am curious.

[zainabusman]

Originally Posted by billions

This result is cool...about 11 billion naira was made in d last quater.

Not so fast. This is a clear case of Tax management. PBT for 12 months was N50 billion and for 15 months N56 billion. The estimated tax on the other hand for 12 months was N9.2 billion and N4.1 billion after 15 months. A clear case of Tax treatment obscuring the fact that the 5th qtr was not really that good. In fact on a straight line basis, the final PBT should have been N63 billion. In summary, the 5th qtr was poor compared to the last 4. Only N6 billion made b4 tax compared to N12.5 billion average of the previous 4 qtrs. Is this a sign of the difficulties the banks are facing?

Always safer to use PBT in such cases to determine how good the performance is.

[citizen]

Zenith Bank grosses N208bn, pays N1.70 per share dividend
Written by Gabriel Omoh, Business Editor
Thursday, 13 November 2008
ZENITH Bank Plc has announced a gross earnings of N208.29 billion for the financial year ending September 2008. This is 120 per cent over the N94.88 billion recorded last year.
The bank’s full year results announced in Lagos yesterday showed that it remains a market leader with total assets plus contingents jumping by 98 per cent to N2.512 trillion, up from N1.271 trillion and shareholders funds rising to N346.6 billion, a 198 per cent rise from N116.4 billion recorded in the previous year.

Details of the full year result also showed increasing profitability as profit before tax rose by 119 per cent to N56.118 billion from N25.676 billion while profit after tax jumped 177 per cent to N51.992 per cent from N18.779 billion.

Equally impressive is the 198 per cent growth in shareholders funds, up from N116.454 billion to N346.617 billion, making Zenith Bank one of the most capitalised banks in Nigeria. The bank is also delivering on its promise to further enhance shareholders value with a dividend payout of N28.5 billion, the highest ever by any bank in Nigeria. This amounts to N1.70K per share as against N1.10K per share last year.

Zenith Bank, which recently moved its financial year end from June to September, has earned a reputation for consistent strong financial performance over the years.

The performance over the years has earned Zenith Bank excellent ratings and recognition from local and international agencies. Agusto & Co., Nigeria’s foremost rating agency, has for the ninth consecutive year, rated Zenith Bank Triple Aaa, saying; “…the bank is a financial institution of impeccable financial condition and overwhelming capacity to meet obligations as and when they fall due” while Fitch Ratings currently rates Zenith Bank AA- (National).

The bank was last month named “Best Global Bank in Africa” by the African Banker at an award ceremony in Washington DC.

[citizen]

Y DOES ZENITH BANK ALWAYS BAMBOOZLE US WITH DIVIDEND PAYOUT?
THEY THINK ALL NIGERIANS ARE DUMB?
DIVIDENDS WITH NO COMMESURATE BONUS ISSUE= TRASH.
ONCE FOREIGN CREDIT LINES STALL AND JIM'S FELLOW ROTHER AT CBN GOES+ MAYBE WITHDRAWAL OF CHARLES TAYLOR'S MONEY TO LIBERIA WE WILL SEE ALL HE IS TALKING ABOUT?
ANYWAY HE HAS TAKEN THE BANK TO A LEVEL NOW THAT IT HAS BECOME AN INSTITUTION LIKE FBN,UBN AND UBA.
KUDOS BUT Y ARE U STINGY WITH DIVIDEND MR. BANK OWNER JIM?????

[Apache]

Wow! good result from Zenith.

[hispy99]

Originally Posted by zainabusman

Not so fast. This is a clear case of Tax management. PBT for 12 months was N50 billion and for 15 months N56 billion. The estimated tax on the other hand for 12 months was N9.2 billion and N4.1 billion after 15 months. A clear case of Tax treatment obscuring the fact that the 5th qtr was not really that good. In fact on a straight line basis, the final PBT should have been N63 billion. In summary, the 5th qtr was poor compared to the last 4. Only N6 billion made b4 tax compared to N12.5 billion average of the previous 4 qtrs. Is this a sign of the difficulties the banks are facing?

Always safer to use PBT in such cases to determine how good the performance is.

Yup, given your analysis, the 5th QTR looks poor.

[hispy99]

Originally Posted by citizen

Y DOES ZENITH BANK ALWAYS BAMBOOZLE US WITH DIVIDEND PAYOUT?
THEY THINK ALL NIGERIANS ARE DUMB?
DIVIDENDS WITH NO COMMESURATE BONUS ISSUE= TRASH.
ONCE FOREIGN CREDIT LINES STALL AND JIM'S FELLOW ROTHER AT CBN GOES+ MAYBE WITHDRAWAL OF CHARLES TAYLOR'S MONEY TO LIBERIA WE WILL SEE ALL HE IS TALKING ABOUT?
ANYWAY HE HAS TAKEN THE BANK TO A LEVEL NOW THAT IT HAS BECOME AN INSTITUTION LIKE FBN,UBN AND UBA.
KUDOS BUT Y ARE U STINGY WITH DIVIDEND MR. BANK OWNER JIM?????

Bros, so you dey vex because Jim no give bonus? Make me I collect the dividend o

[ayemco]

Originally Posted by hispy99

Bros, so you dey vex because Jim no give bonus? Make me I collect the dividend o

My brothers, make una take part of the dividend buy shares if una desperate for bonus.

[ayemco]

Just looking at some other figures on Zenith's Sep 2008 Accounts
- Cash & Short Term - 1.17Trillion
- Investment Securities - 0.063Trillion
Against
- deposits - 1.18Trillion
- Borrowings - .034trillion
- ShareHolders Funds - .344trillion

Very good Balance Sheet management. whats all the Hullabaloo about. This bank is moving on. Good Fundermentals.
Together with an unqualified report from the auditors and no contraventions of CBN or other regulatory rules. I say fantastic