Q3 2026 - Press Release

ZENITH BANK PLC RELEASES UNAUDITED Q3 2026 RESULTS

LAGOS, NIGERIA - 30 October 2026 - Zenith Bank Plc, (Bloomberg꞉ ZENITHBA NL) ("Zenith" or the "Bank"), the Nigerian bank headquartered in Lagos, announces its unaudited results for period ended 30 September 2026

In millions of Naira

Interest and similar income Interest and similar expense Net interest income Impairment charge

Non-interest income Operating expenses Profit before tax Profit after tax

Earnings per share (NGN)

In millions of Naira

Gross loans Total assets

Customers' deposits Shareholders' fund Key ratios

Return on average equity (ROAE) Return on average assets (ROAA) Net interest margin (NIM)

Cost of funds Cost of risk Cost to income

Liquidity ratio - Group

Liquidity ratio - Bank

Loan to deposit ratio - Group Loan to deposit ratio - Bank Capital adequacy ratio (CAR) Non-performing loan Coverage ratio

2,865,288

2,617,139

(688,727)

1,928,412

(230,770)

134,199

(903,044)

928,797

675,826

16.41

12,256,313

34,387,321

27,114,756

5,073,128

18.0%

2.7%

12.70%

3.5%

2.4%

49.3%

49.1%

40.1%

45.2%

49.2%

24.5%

3.80%

123.2%

3,371,829

2,740,946

(814,227)

1,926,719

(781,524)

534,782

(762,565)

917,412

764,204

18.60

11,063,866

31,458,051

24,329,961

4,924,206

23.3%

3.3%

11.99%

4.5%

9.9%

45.4%

71.0%

55.0%

45.5%

48.3%

25.3%

3.82%

172.6%

(15%)

(5%)

(15%)

0%

(70%)

(75%)

18%

1%

(12%)

(12%)

11%

9%

11%

3%

(23%)

(18%)

6%

(22%)

(76%)

9%

(31%)

(27%)

(1%)

2%

(3%)

(1%)

(29%)

Zenith Bank PLC has released its unaudited Group financial results for the nine months ended September 30, 2026. The Group's performance reflects a resilience in profitability and a continued improvement in earnings quality, supported by stronger margins, lower funding costs, growing customer activity and further expansion of its earning asset base.

Gross earnings moderated by 15% year-on-year to NGN2.87 trillion from NGN3.37 trillion reported in September 2025, as lower interest income and trading losses offset strong growth across customer-driven revenue lines. Interest income declined by 5% to NGN2.62 trillion as yields on earning assets moderated relative to the prior period. The Group, however, benefited from improved funding efficiency, with interest expense declining by 15% year-on-year to NGN689 billion from NGN814 billion, underpinned by a more efficient funding composition. Consequently, net interest margin improved from 11.99% to close at 12.7%.

While trading-related income remained softer than the prior year, underlying customer activity continued to perform strongly. Net fees and commission income increased by 27% year-on-year to NGN257 billion, benefiting from higher transaction volumes and increased adoption of the Bank's digital platforms. Other operating income also grew by 97% to NGN107 billion from NGN54 billion during the period, driven by continued recoveries on previously written-off loan facilities. Despite these gains, non-interest income declined to NGN134 billion, primarily due to revaluation losses within the Bank's trading portfolio.

Profit before tax increased by 1% year-on-year to NGN929 billion, compared with NGN917 billion reported in September 2025. Profit after tax eased to NGN676 billion, compared with NGN764 billion in the corresponding period of 2025, reflecting the impact of a higher effective tax rate following the implementation of the Nigerian Tax Act (NTA) 2025.

Gross loans rose by 11% from NGN11.06 trillion as at December 2025 to NGN12.26 trillion as at September 2026. Customer deposits increased by 11% to NGN27.11 trillion from NGN24.33 trillion, while total assets grew by 9% to NGN34.39 trillion from NGN31.46 trillion over the same period. This continued expansion across the Group's lending, deposit and asset base demonstrates the Group's ability to support growing customer activity and capture opportunities across key market segments.

The Group recorded further gains across key efficiency and risk metrics during the period. Cost of funds declined to 3.5% from 4.5% reported in September 2025, while cost of risk significantly improved to 2.4% from 9.9%, following lower credit impairment charges during the period. Cost-to-income ratio increased to 49.3% from 45.4%, largely due to inflationary pressures and higher regulatory costs.

Return on Average Equity (ROAE) and Return on Average Assets (ROAA) stood at 18.0% and 2.7%, respectively, compared with 23.3% and 3.3% reported in September 2025. The Group's prudential ratios remained robust and well above regulatory threshold, with Capital Adequacy Ratio (CAR), Liquidity Ratio and Coverage Ratio at 24.5%, 49.1% and 123.2%, respectively, reinforcing the Group's resilience and prudent risk management culture.

Commenting on the results, the Group Managing Director/Chief Executive Officer, Dame Dr. Adaora Umeoji, OON, stated꞉

"Our performance during the first nine months of 2026 reflects the increasing contribution of customer-driven business activities across the Group. Growth in lending, transaction volumes and customer deposits continued to support the business during the period, while lower funding and credit costs contributed to profitability and improved earnings quality.

We are seeing growing momentum as more customers continue to choose Zenith Bank as a trusted partner for their banking needs. This is translating into deeper customer relationships, greater business volumes and a more balanced earnings profile across the Group.

Our focus is not only on growing the business, but on ensuring that growth translates into greater value for our customers, shareholders and the communities we serve. We believe the progress we have made positions us well to capture future opportunities while maintaining the financial strength and disciplined execution that have long defined the Zenith brand."

-ENDS-

Notes to editors꞉

About Zenith Bank Plc

Zenith Bank Plc offers its clients a wide range of corporate, investment, business and personal banking products and solutions. It is one of the biggest and most profitable banks in Nigeria. The Bank was established in May 1990 and started operations in July the same year as a commercial bank. It became a public limited company on 17 September 2004 and was listed on the Nigerian Stock Exchange on 21 October 2004 following a highly successful Initial Public Offering (IPO). Zenith Bank listed on the London Stock Exchange (LSE) via a non-capital raising GDR on 21 March 2013. The Bank presently has a shareholder base of over eight hundred thousand, an indication of the strength of the Zenith brand.

It is headquartered in Lagos, Nigeria. With over four hundred (400) branches and business offices nationwide, Zenith Bank has presence in all the state capitals, the Federal Capital Territory (FCT) and major towns and metropolitan centres in Nigeria. The Bank's expansion is not limited to Nigeria as Zenith Bank PLC was licensed by the Financial Services Authority (FSA) in the UK for the commencement of banking operations by Zenith Bank (UK) Limited in April 2007, with branches in London, Dubai, Paris, Manchester, and a representative office in Beijing, China. This is in addition to its presence in Ghana, Zenith Bank (Ghana) Limited, Sierra Leone, Zenith Bank (Sierra Leone) Limited, Gambia, Zenith Bank (Gambia) Limited, Cote d'Ivoire Zenith Bank (Cote d'Ivoire) Limited and Kenya, Paramount Bank Limited.

More information can be found at https://www.zenithbank.com.

Jacquelyne Yawa

Group Head, Investor Relations

+234 704 000 3242

[email protected]

Nsikan Umoren

Financial Control & Strategic Planning

+234 704 000 0703

[email protected]

Folashade Keleko

Investor Relations

+234 704 000 1913

[email protected]