Zenith Bank Gains N37.675bn As Flour Mills Jumps 6.16%
The market capitalisation of Zenith Bank Plc rose by N37.7 billion on the Nigerian Stock Exchange (NSE) amid a profit after tax of N230.6 billion declared on Tuesday.
The Bank market capitalisation soared by N37. 675 billion, representing a 4.84 per cent, to close at N816.308 billion up from N778.633 billion.
Zenith Bank share price also appreciated by 4.84 per cent, climbing from N24. 80 Kobo per share to N26 per share, with its outstanding shares standing at
Amidst the rise of its share price on the NSE, the Bank reported N696.450 billion in gross earnings following the release of its December 31st year ended 2020 financial statement.
According to the 2020 financial report published on Tuesday, the bank’s gross earnings appreciated by 5.2 per cent to N696. 450 billion up from N662.251 billion posted in 2019.
It’s profit before tax, PBT soared to N255.861 billion compared to N243.294 billion in 2019, indicating a 5.2 per cent growth, while its profit after tax PAT jumped by 10.40 per cent, rising to N230.565 billion up from N208. 843 billion in 2019.
Similarly, the market capitalisation of Flour Mills Nigeria Plc also recorded gains during trading on Tuesday as the company moved up by 6.16 per cent, from N119.731 billion to N127.111 billion, effectively leaping by N7.380 billion.
The consumer goods giant also posted gains in its share price, surging by 6.16 per cent, to N31 per share up from N29.20 Kobo, while it’s outstanding shares remain at 4,100,379,605.