Zenith Bank Plc has posted a sharp increase in earnings from its foreign subsidiaries, with profit before tax (PBT) from international operations rising to N331.7 billion in 2025—accounting for 26.3 per cent of the group’s total PBT.
The performance marks a significant jump from N179 billion recorded in 2024, when foreign units contributed 13.5 per cent to the group’s pre-tax profit, underscoring the growing strategic importance of the bank’s offshore businesses.
The bank’s foreign footprint spans Ghana, the United Kingdom, Sierra Leone and The Gambia.
The growth momentum was also reflected on the balance sheet, with combined customer deposits from foreign operations climbing 27.5 per cent year-on-year to N6.7 trillion in 2025, up from N5.3 trillion in 2024.
Foreign subsidiaries now account for 27.8 per cent of the group’s total deposits, compared to 24.2 per cent in the previous year. Zenith Bank UK led the charge with N3.6 trillion in deposits, the highest among the offshore units.
Financial analyst Ayodele Martins said the strong deposit growth indicates rising customer trust and deeper market penetration.
“The deposit expansion suggests the bank is successfully leveraging its brand strength beyond Nigeria. It also enhances liquidity buffers and supports credit expansion in those markets,” he noted.
Gross earnings from foreign operations rose by 55.4 per cent to N793.3 billion in 2025, compared to N510.4 billion in 2024, contributing 18.9 per cent to the group’s total earnings.
African subsidiaries outside Nigeria generated N544.1 billion collectively, with Zenith Bank Ghana delivering the largest share of regional earnings. Zenith Bank UK followed with N249.1 billion in gross earnings.
On the bottom line, profit after tax (PAT) from African subsidiaries outside Nigeria surged by 426.7 per cent to N149.3 billion, up from N28.3 billion in 2024, accounting for 14.4 per cent of total group profit. Zenith Bank UK recorded N74.1 billion in PAT, a 29.1 per cent increase from N57.3 billion in the previous year.
Analysts attribute the sharp rise in African subsidiaries’ profitability to improved interest margins, currency gains, and operational efficiencies.
