Zenith Bank Loses N376m To Fraud In Six Months

Zenith Bank Plc says it recorded lack of N376m to fraud and forgeries in six months, half 12 months ended June 30.

The financial institution in its second quarter (Q2) monetary assertion posted on the Nigerian Exchange Group (NGX) platform on Tuesday, stated {that a} whole of 171 fraud circumstances have been reported throughout the interval.

The report stated the financial institution acquired no fewer than 7,914 clients’ complaints and resolved about 6,780 of them as of June 30.

It stated the quantity exceeded the 7,599 acquired and eight,503 resolved complaints in the identical interval of 2025.

The report stated {that a} whole of N67.2bn was recorded as claims from the complaints, noting that the determine was lower than the N92.77bn claimed throughout the identical interval within the corresponding 12 months.

”The financial institution has complied with the requirement to render month-to-month returns on fraud and forgeries to the Central Bank of Nigeria (CBN) in accordance with Section 24 of the Banks and Other Financial Institutions Act 2020 and related circulars and pointers issued by the (CBN).

”During the interval, a complete of 171 fraud circumstances have been reported, which resulted in precise lack of N376m to the financial institution,” it stated.

The report stated the financial institution recorded a Profit Before Tax (PBT) of N637.6bn for the interval beneath evaluate, in comparison with the June 2025 determine of N625.6bn.

The report stated that the financial institution’s gross earnings dropped from N2.5bn in 2025 to N1.899bn for the interval whereas its Profit After Tax (PAT) additionally dropped from N532bn to N430.7bn.

The report stated the financial institution recorded a tax expense of N206.8bn for the six months interval ended June 30 in comparison with the N93bn recorded in the identical interval of 2025.

(NAN)