Pulse.ng logo
Go

Finance Zenith Bank lost N2.9 million to fraud and forgeries in 6 months

Zenith Bank Plc recorded 161 fraud and forgeries cases in the first half of 2018 compared to 139 cases recorded in the same period in 2017.

  • Published:
Zenith Bank lost N2.9 million to fraud and forgeries in 6 months play Zenith Bank lost N2.9 million to fraud and forgeries in 6 months (Zenith Bank)

Subscribe to BI newsletter
Join over 10,000 others, get the latest African business trends, profile and news straight to your inbox.

By signing up , you agree to our Privacy Policy and European users agree to the data transfer policy



Thank You! You have successfully subscribed to receive BI newsletter.

Nigerian tier-1 bank, Zenith Bank Plc, has recorded N2.9 million on fraud and forgeries related cases, Business Insider SSA analysis of the bank’s financial statement for half-year 2018 has shown.

The fraud and forgeries related cases are contained in the bank’s financial returns submitted to the Nigerian Stock Exchange, NSE.

For the 6 month period ended June 2018, the bank recorded 44 ATM/Electronic fraud, 9 fraud cases were perpetrated by the bank's staff, 8 impersonation account, 45, stolen and forged instrument, 2 internet banking fraud while others fraudulent activities account for 43.

ALSO READ: 5 Nigerian banks make it to the list of top 1,000 global banks, here they are

Out of the 161 fraud and forgeries returns, the bank lost the sum of N2.9 million compared to 10 million lost in the same period in 2017 from 139 cases.

Zenith Bank lost N2.9 million to fraud and forgeries in 6 months play (Business Insider SSA)

 

Other key highlights from the bank's financial statement:

- Gross earnings declined by 15.3% to N322.2 billion as against N380.4 billion.

- Profit after tax rose to N81.7 billion in first half 2018 as against N75.3 billion recorded in 2017.

- Profit before tax rose from N92.2 billion to N107.4 billion.

The board of directors of the bank approved N9.42 billion to shareholders as interim dividend for the half-year ended June 30, 2018, compared to N7.5 billion declared in the same period of 2017.

The breakdown indicates a dividend per share of 30 kobos, 20% above 25 kobos paid as interim dividend for the first half of 2017.

Also from Business Insider Sub-Sahara Africa:

X
Advertisement