diamond68:
I need a question answered that I have always wondered about. I walk into zenith bank and there are about 30 visible workers. Am sure each draws an average salary of 300k per month that’s 9 million Naira a month in salary’s alone. Am sure they pay rent for the building and supplies and IT. Seems the running cost monthly per branch will run into 30 million Naira. Question is how do they make 30 million Naira a month plus profit ? Also remember they have to pay interests on peoples fixed deposits. Am assuming they make tonnes of money from the charges on their 966 number but is it up to 30 million a month ? Are they in the money market ? Double tripping with forex ? How do they make money to cover their expenses and then make profit ?

FreeStuffsNG:

Hahaha.....Banking business is a profitable business everywhere in the world if it's well managed. Please read up on the main area banks make their money.

A single branch may be serving a lot of customers and high networth customers. Besides, banking business now runs 24/7 unlike the days of only brick and mortar banking.

diamond68:
I need a question answered that I have always wondered about. I walk into zenith bank and there are about 30 visible workers. Am sure each draws an average salary of 300k per month that’s 9 million Naira a month in salary’s alone. Am sure they pay rent for the building and supplies and IT. Seems the running cost monthly per branch will run into 30 million Naira. Question is how do they make 30 million Naira a month plus profit ? Also remember they have to pay interests on peoples fixed deposits. Am assuming they make tonnes of money from the charges on their 966 number but is it up to 30 million a month ? Are they in the money market ? Double tripping with forex ? How do they make money to cover their expenses and then make profit ?

diamond68:
you no answer kweshun oooo ahhh i guess its not your expertise

FreeStuffsNG:
Haba, I have answered your question sir. Beyond the basic banking business model is now the power of leverage on technology I drew your attention to. I believe you already know the basics of how banks everywhere in the world make money by keeping money for you and loaning it at a margin to customers. They also use your money to buy fixed income instruments.

Difrent:


Any zenith Bank branch you see up to 30 worker is probably the HQ.
Those guys don't employ that much, most branch have less than 5 real staff, na outsource full

diamond68:
those ones in lekki and vi ? They will have like 8 behind counter, like 4 at customer service, like 4 at back room counting money, go upstairs there is like 10, then you see like 4 security and 2 cleaner. That’s a total of 32 staff. This is standard in every zenith bank I have been to

Difrent:


Go back and read my submission. They are mostly outsourced, not real Zenith staff

Difrent:


Any zenith Bank branch you see up to 30 worker is probably the HQ.
Those guys don't employ that much, most branch have less than 5 real staff, na outsource full

diamond68:
do they work for free ?

Mexyz:


Don't mind that guy and his lies o.
He is speaking ignorantly.

seunrebirth:


Source: https://www.legit.ng/nigeria/1585526-firm-alleges-1-4bn-diversion-inzenith-bank/

diamond68:
I need a question answered that I have always wondered about. I walk into zenith bank and there are about 30 visible workers. Am sure each draws an average salary of 300k per month that’s 9 million Naira a month in salary’s alone. Am sure they pay rent for the building and supplies and IT. Seems the running cost monthly per branch will run into 30 million Naira. Question is how do they make 30 million Naira a month plus profit ? Also remember they have to pay interests on peoples fixed deposits. Am assuming they make tonnes of money from the charges on their 966 number but is it up to 30 million a month ? Are they in the money market ? Double tripping with forex ? How do they make money to cover their expenses and then make profit ?

flexyrule:
Only sales of FX can cater for all the items that you listed.

diamond68:
I need a question answered that I have always wondered about. I walk into zenith bank and there are about 30 visible workers. Am sure each draws an average salary of 300k per month that’s 9 million Naira a month in salary’s alone. Am sure they pay rent for the building and supplies and IT. Seems the running cost monthly per branch will run into 30 million Naira. Question is how do they make 30 million Naira a month plus profit ? Also remember they have to pay interests on peoples fixed deposits. Am assuming they make tonnes of money from the charges on their 966 number but is it up to 30 million a month ? Are they in the money market ? Double tripping with forex ? How do they make money to cover their expenses and then make profit ?

vanitybutiwanti:
Banks use customer deposits to invest in lucrative opportunities, generating significant returns. For instance, they invest in money market instruments like bonds and treasury bills. In fact, a large bank like Zenith can invest ₦200 billion in government bonds at 20% interest, earning ₦40 billion effortlessly.

Additionally, banks make money from foreign exchange transactions and lending to multinationals and states. A notable example is the ₦195 billion loan provided by Zenith Bank to the Rivers State government to execute the Ring Road project constructed by Julius Berger ¹. Assuming a 25% interest rate, the bank would earn substantial interest from this loan.

Banks also generate revenue from bank charges and investing in underpriced assets and business opportunities. They often hire certified financial analysts to scout for these opportunities locally and abroad. For example, an investment banking firm's ₦24 billion stake in an oil and gas company, Aradel, grew to over ₦350 billion in less than two years.

As the saying goes, 'Cash is king' - with ample cash, the possibilities are endless. If only I had ₦100 billion, I'd invest in a Nigerian bank!

skoles001:


Your 1,500 still dy intact..Mafoh!

Kobicove:


Nothing will happen to your #2,435.26