Zenith Bank Plc has disclosed that it lost N376 million to fraud and forgeries in the six months ended June 30, 2026, after recording 171 fraud cases during the period.
Key Highlights
- Zenith Bank recorded 171 fraud cases and lost N376 million in H1 2026.
- The bank received 7,914 customer complaints and resolved 6,780 as of June 30.
- Claims from complaints fell to N67.2 billion from N92.77 billion in H1 2025.
- Profit before tax rose to N637.6 billion, while profit after tax fell to N430.7 billion.
- Gross earnings dropped to N1.899 trillion and tax expense rose to N206.8 billion.
The bank disclosed this in its second-quarter financial statement filed on the Nigerian Exchange Group (NGX) platform on Tuesday.
According to the report, Zenith Bank also received 7,914 customer complaints during the period, resolving 6,780 of them as of June 30.
The number of complaints received exceeded the 7,599 recorded during the corresponding period in 2025, although the report indicated that the bank resolved 8,503 complaints in the same period last year.
The bank further disclosed that claims arising from the complaints amounted to N67.2 billion, representing a decline from the N92.77 billion recorded in the corresponding period of 2025.
Zenith Bank said it has complied with the Central Bank of Nigeria’s requirements for monthly returns on fraud and forgeries under Section 24 of the Banks and Other Financial Institutions Act 2020 and relevant regulatory guidelines.
“During the period, a total of 171 fraud cases were reported, which resulted in actual loss of N376m to the bank,” the report stated.
Mixed Half-Year Financial Performance
The disclosure comes amid a mixed financial performance by the bank in the first half of 2026, with its profit before tax increasing slightly while gross earnings and profit after tax declined.
Zenith Bank reported a profit before tax of N637.6 billion for the six-month period, up from N625.6 billion recorded in the corresponding period of 2025.
However, its gross earnings fell to N1.899 trillion from N2.5 trillion in the same period last year, while profit after tax declined to N430.7 billion from N532 billion.
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The bank’s tax expense also rose sharply to N206.8 billion during the period, compared with N93 billion recorded in the first half of 2025.
The financial statement did not provide further details on the nature of the 171 fraud cases, the specific channels involved or the proportion of the N376 million loss recovered.
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