Zenith Bank wins Bank of the Year award
Zenith Bank Plc has emerged as Bank of the Year in Nigeria in The Banker’s Bank of the Year Awards 2020. The bank has also won the Most Valuable Banking Brand in Nigeria and the Number One Bank in Nigeria by Tier-1 Capital, also by The Banker.
The award, which was announced on Wednesday by The Banker Magazine, Financial Times Group, United Kingdom during the virtual awards ceremony, was based on individual banks’ ability to deliver returns, gain strategic advantage and serve their markets.
Regarded as the industry standard for banking excellence, The Banker’s Bank of the Year awards is contested by the world’s leading financial institutions, with winners chosen across Africa, Asia-Pacific, Central & Eastern Europe, Latin America, the Middle East, North America and Western Europe.
Commenting on the award, the Group Managing Director/CEO of Zenith Bank Plc., Ebenezer Onyeagwu said : “It is a thing of joy for us in Zenith Bank to have been recognized by The Banker, Financial Times Group, as the Bank of the Year 2020 in Nigeria. I dedicate this award to our staff for their commitment, doggedness, creativity and very outstanding talents. It is in the talents of our staff that the Bank has continued to build dynamic competencies and capabilities that are driving our business for continued superior performance.”
He expressed gratitude to the Group Chairman, Jim Ovia, for the pioneering and foundational role he played in building the structures and laying the foundation for an enduring and very successful institution, the Board for the deep insights and outstanding leadership they provide, as well as the Bank’s teeming customers for their support which has enabled the Bank to prove to the market what it can deliver.
Zenith Bank has continued to distinguish itself in the Nigerian financial services industry through superior service offering, unique customer experience and sound financial indices. The bank has remained a clear leader in the digital space with several firsts in the deployment of innovative products, solutions and an assortment of alternative channels that ensure convenience, speed and safety of transactions.
As a testament to its resilience and market leadership, Zenith Bank announced an impressive result for the year ended December 31, 2019, with profit after tax (PAT) of N208.8 billion, achieving the feat as the first Nigerian Bank to cross the N200 billion mark.
In the recently released third quarter 2020 unaudited financial results, the bank recorded an improved result over the corresponding period in 2019, with gross earnings rising by four per cent to N509 billion and profit before tax (PBT) rising marginally by one per cent to N177 billion, an indication of the Group’s resilience given the challenging macro-economic environment due to the Coronavirus (COVID-19) pandemic.
