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GTCO, Transcorp Power and Zenith Bank lifted the NGX All-Share Index 0.2% on Wednesday as Nigerian equities opened November at 63.4% YTD.

Zenith Bank reports lower nine-month net profit despite a small pretax increase, as tax expense rises and trading income turns negative.

Zenith Bank has consolidated its entry into East Africa's largest market after completing the full acquisition of Kenya's Paramount Bank, part of a wider expansion that also took the Nigerian lender into Côte d'Ivoire during the first half of 2026.

Five leading Nigerian financial institutions reported a combined pre-tax profit of about N2.29 trillion in the first half of 2026, cementing banking's dominance of corporate earnings.

The lender reported N637.6 billion in profit before tax for the six months to June, while after-tax earnings fell and the board proposed a N1.50-per-share interim payout.

Zenith's move is particularly notable because the bank had closed Monday at ₦135.40 after gaining 0.37%, with the stock trading close to...