Zenith Bank has been named Nigeria’s top bank for the 13th year in a row.
Furthermore, in the Banker Magazine Top 500 Banking Brands 2020 and 2021, the bank was named the Most Valuable Banking Brand in Nigeria…
Zenith Bank Plc has been named the Number One Bank in Nigeria by Tier-1 Capital in The Banker Magazine’s 2022 Top 1000 World Banks Ranking.
With a Tier-1 Capital of $2.75 billion, the bank preserved its position as Nigeria’s number one Tier-1 bank for the 13th consecutive year, ranking as the 460th bank internationally.
The rating, which was published in the July 2022 edition of The Banker Magazine of the Financial Times Group, United Kingdom, was based on banks’ global 2021 year-end Tier-1 capital.
Despite a highly hard macroeconomic climate exacerbated by the COVID-19 epidemic, Zenith Bank’s financial performance for the year was driven by double-digit growth of 10% in gross earnings, with enhanced market share in both retail and corporate sectors.
Zenith Bank Plc’s Group Managing Director/CEO, Ebenezer Onyeagwu, commented on the 2022 Top 1000 World Banks Position, saying, “This ranking is a tribute to our tenacity and doggedness as an institution amid economic headwinds and a persistently tough macroeconomic climate.”
“Indeed, being named as Nigeria’s Number One Bank by Tier-1 Capital for the thirteenth year in a row highlights our dedication to maintaining the exceptional performance for which we are known and producing value for our highly respected clients.”
Onyeagwu thanked Zenith Bank Plc’s Founder and Chairman, Jim Ovia, for his guidance and for laying the foundation and building the structures of an enduring and very successful institution; the Board for the outstanding leadership they provide; the staff, whose drive and commitment sustain the exceptional performance; and the Bank’s customers for their unwavering loyalty to the Zenith brand.
Tier 1 Capital refers to capital adequacy, which is the primary indicator of a bank’s financial soundness in the eyes of regulators.
Tier 1 Capital, as defined by the newest Bank for International Settlements rules, contains loss-absorbing capital, which includes common stock, reported reserves, retained profits, and minority equity holdings in subsidiaries that are less than completely owned, according to the ranking.
Zenith Bank’s track record of excellence has earned the brand countless honors, with this newest achievement following on the heels of several others, including being named the Best Bank in Nigeria for three consecutive years from 2020 to 2022 at the Global Finance Awards. World’s Best Banks Awards; Best Commercial Bank, Nigeria 2021 and 2022 in the World Finance Banking Awards; Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022; Best in Corporate Governance ‘Financial Services’ Africa by the Ethical Boardroom for three consecutive years from 2020 to 2022; Best Commercial Bank in Nigeria and Best Innovation in Retail Banking in Nigeria in the International Banker 2022 Banking Awards, as well as Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020.
In addition, the bank was named the Most Valuable Banking Brand in Nigeria by Banker Magazine in the Top 500 Banking Brands 2020 and 2021, as well as the Retail Bank of the Year at the BusinessDay Banks and Other Financial Institutions (BOFI) Awards 2020 and 2021.
Similarly, Zenith Bank was named Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, and won four awards at the Sustainability, Enterprise, and Responsibility (SERAS) Awards 2021, including “Best Company in Reporting and Transparency,” “Best Company in Infrastructure Development,” “Best Company in Gender Equality and Women Empowerment,” and the coveted “Most Responsible Organization in Africa.”