Zenith Bank Plc has emerged as ‘Bank of the Year, Nigeria’ in 2024 The Banker’s Bank of the Year Awards.
The award, which was announced by The Banker Magazine, Financial Times Group, United Kingdom, during the awards ceremony held in London on December 4, 2024, is in recognition of the bank’s strong management, sound business model and strategy, and approach to sustainability and ESG banking practices.
According to the The Banker Magazine:
“Zenith Bank is this year’s Bank of the Year for Nigeria, the bank’s second country award in the past three years. In a difficult season for the country’s economy — the naira has lost around 70 per cent of its value since April 2023 — Zenith, the country’s largest bank by Tier 1 capital, was selected by the judges in recognition of modifying its lending business towards structured retail credits.
The move, aimed at asset financing for staff of large corporations, ministries and government departments, played a key role in improving returns and significantly reducing non-performing loans within the retail space, even as overall NPLs edged up slightly.
Zenith has also embarked upon its Project Tiger IT infrastructure expansion programme, beginning in April 2023 with the migration of its treasury management system to a new module from Calypso, followed by an upgrade of its trade solution to an Oracle Banking Trade Finance solution, commissioned in October 2023.
In April of this year, Zenith Bank shareholders approved a new holding company structure, with a view to pursuing opportunities in other sectors, including fintech.”
Commenting on the award, the Group Managing Director/Chief Executive of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON, said:
“We are delighted and honored to have been recognized as the Bank of the Year, Nigeria in The Banker’s Bank of the Year Awards 2024.
This award is a testament to the unwavering trust and loyalty of our esteemed customers, the unparalleled leadership and guidance of the Board and Management as well as the hard work and dedication of our staff.
It also reflects our bank’s steadfast commitment to delivering excellent services to our customers and contributing to the growth and development of the Nigerian economy.
We will continue to invest in innovative technologies, expand our range of products and services, and maintain our commitment to exceptional customer service in order to sustain our position as Nigeria’s Number One Bank.”
She lauded the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, for his visionary role in laying the foundation for a reputable, dominant, and globally recognised financial institution known for innovation, superior performance, and the creation of premium value for all stakeholders.
