Zenith Bank international subsidiaries surge profit, declare ₦1.50 interim dividend
Zenith Bank's foreign subsidiaries earned ₦166.09 billion profit before tax in first half 2026—nearly half of what the entire foreign operation made in all of 2025. Ghana's unit led with ₦106.87 billion PBT, while UK operations remain the bank's largest offshore base by assets at ₦4.27 trillion.
The bank's international footprint spans Ghana, UK, Sierra Leone, Gambia, plus new Kenya and Côte d'Ivoire operations. Total non-Nigerian assets hit ₦8.50 trillion, with Ghana and UK holding most. Zenith Bank Ghana closed H1 with ₦3.60 trillion in assets and ₦2.98 trillion deposits; UK subsidiary showed ₦4.27 trillion assets and ₦3.60 trillion deposits.
Alongside these results, Zenith Bank raised its interim dividend by 20% to ₦1.50 per share for H1 2026. Shareholders must be on register by October 23, 2026 to receive electronic payment on October 30, 2026 (after completing e-dividend registration). Global Depositary Receipt holders get paid later.
This international diversification explains the bank's resilience—while local Nigerian operations face economic headwinds, overseas units in stable markets like Ghana and UK are delivering strong, growing returns. For investors, the dividend hike signals confidence in sustained profitability from this global expansion strategy.
Will this international profit trend continue to support higher dividends, or should investors expect more conservative payouts if foreign market conditions change?