Zenith Bank Plc (NSE – ZENITHBANK) has announced that the Board of Directors of the bank will meet on Thursday, January 28, 2021, to consider the Group’s Audited Financial Statements for the financial year ended December 31, 2020.
Consequently, the bank has declared a closed trading period on the shares of the company from Wednesday, January 13, 2021. The closed period will end 24 hours after the audited account has been released to the public.
Zenith Bank stated that the audited accounts will be forwarded to the Central Bank of Nigeria (CBN) for approval before it will be released on the floor of the Nigerian Stock Exchange (NSE).
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According to Rule 17.17 of the Nigerian Stock Exchange Rule Book, “no Director, person discharging managerial responsibility and Adviser of the Issuer and their connected persons shall deal in the securities of the Issuer when the trading window is closed. Any period during which trading is restricted shall be termed as a closed period.”
Rule 17:18 (b) mandates all issuers to notify The Exchange in advance of the commencement of each closed period.
Zenith Bank Plc’s last report
Zenith Bank Plc posted gross earnings amounting to N508.98 billion in nine months of 2020 (January to September), an increase of 3.6% from N491.27 billion recorded in 2019 nine months. Interest income accounted for 63% (N318.82 billion) of the group’s gross earnings.
Zenith Bank posted a 5.7% rise in profit after tax to N159.32 billion from N150.72 billion. The rise in profit after tax was mainly as a result of the N8.59 billion decline in the tax expense.
Zenith Bank Plc’s equity price closed 0.19% down on Tuesday at N25.80 per share. YTD the share price is up by 4.03%. The 52 week high and low prizes are N28.15 and N10.70 per share respectively.
Zenith Bank Plc has a market capitalization of N810 billion.
About Zenith Bank Plc
Zenith Bank Plc (the “Bank”) was incorporated in Nigeria under the Companies and Allied Matters Act as a private limited liability company on May 30, 1990. It was granted a banking licence in June 1990, to carry on the business of commercial banking and commenced business on June 16, 1990.
The Bank was converted into a Public Limited Liability Company on May 20, 2004. The Bank’s shares were listed on October 21, 2004 on the Nigerian Stock Exchange, and in August 2015, the bank was admitted into the Premium Board of the Nigerian Stock Exchange.
The principal activity of the Bank is the provision of banking and other financial services to corporate and individual customers. Such services include granting of loans and advances, corporate finance, and money market activities.
The Bank has six subsidiary companies namely, Zenith Bank (Ghana) Limited, Zenith Pensions Custodian Limited, Zenith Bank (UK) Limited, Zenith Bank (Sierra Leone) Limited, Zenith Bank (Gambia) Limited, and Zenith Nominees Limited. The results of the bank’s subsidiaries have been consolidated in these 9 months period financial statements.
By: Ifunanya Ikueze