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Tag: Zenith bank

Jim Ovia
Banking

Zenith Bank disowns fake investment scheme video falsely featuring Jim Ovia

Zenith Bank Plc has dissociated itself from a “doctored video” and altered images circulating online that falsely show its Group Chairman, Jim Ovia, promoting a fraudulent investment scheme known as “Wealth Bridge.” The bank issued the disclaimer on Tuesday via its official handle on X (formerly Twitter). According to the statement, the video—purportedly shared from […]

Jim Ovia
Banking

Jim Ovia to receive N5.18bn interim dividend for H1 2025

Zenith Bank Plc will pay its founder and chairman, Jim Ovia, about N5.18 billion in interim dividends for the first half of 2025, reflecting the bank’s strong performance. Ovia’s direct holding of 4.14 billion shares qualifies him for a payout of N1.25 per share—25 per cent higher than the N1.00 declared in the same period […]

Banking

Zenith Bank to raise $500m via Eurobond, rights issue

Zenith Bank Plc says it plans to raise up to $500 million in fresh capital through a Eurobond issuance and a rights issue, as part of efforts to strengthen its balance sheet and comply with the Central Bank of Nigeria’s new minimum capital requirements. In a notice to the Nigerian Exchange Limited on Sunday, the […]

Business

Zenith Bank to launch Ivory Coast operations in regional expansion drive

Zenith Bank Plc is set to expand its African presence, starting with the launch of operations in Ivory Coast as part of a broader regional growth strategy backed by its stronger capital base. The bank’s Head of Strategy, Olukayode Akinbinu, said Zenith is considering both greenfield investments and acquisitions across West and Central Africa, with […]

Zenith bank eyes Kenyan expansion with acquisition deal
News

Zenith bank eyes Kenyan expansion with acquisition deal

Zenith Bank, Nigeria’s second-largest lender by assets and often dubbed “the bank of the rich,” is preparing to expand its footprint into East Africa through the acquisition of a Kenyan tier-2 bank. The bank is reportedly in advanced negotiations to purchase the institution, a move that would grant it regulatory access to Kenya’s financial sector […]

Banking

Zenith Bank’s e-banking revenue soars 54.51% to ₦80.05b in 2024

Zenith Bank’s electronic banking revenue grew by 54.51% in 2024, reaching ₦80.05 billion, up from ₦51.8 billion in 2023. This significant increase highlights the rising adoption of digital banking services. The figures were revealed in Zenith Bank’s unaudited financial statement for the year ended December 31, 2024. Electronic fees include income from ATM withdrawals, balance […]

Banking

Zenith Bank, GTCO, UBA hit with N172.4b windfall tax

Nigeria’s new tax policy targeting foreign exchange revaluation gains has led to a combined windfall tax liability of N172.3 billion for three major banks—Zenith Bank, Guaranty Trust Holding Company, and United Bank for Africa. The Finance (Amendment) Act 2023 introduced a windfall tax on realized foreign exchange profits recorded by Money Deposit Banks between 2023 […]

Zenith Bank reports N1.03trn profit in 2024 financial results
Banking

Zenith Bank reports N1.03trn profit in 2024 financial results

Zenith Bank Plc has announced its financial results for the 2024 fiscal year, posting a record profit after tax of N1.03 trillion, a 52.5% increase from the N676.9 billion reported in the previous year. The bank’s gross earnings surged to N4 trillion, with interest income and trading income serving as major contributors to its revenue […]

Zenith Bank raises staff salary by 20%
News

Zenith Bank raises staff salary by 20%

Zenith Bank has announced a 20% salary increase for its nearly 10,000 employees, effective January 2025. This move comes as part of a growing trend among Nigerian banks to raise wages in order to retain top talent amid the country’s ongoing inflationary pressures. The raise follows similar actions by GTCO, Union Bank, First Bank, and […]

News

Zenith Bank extends public offer, rights issue deadline

Zenith Bank Plc has extended the deadline for its ongoing Rights Issue and Public Offer by two weeks, moving the closing date from September 9, 2024, to September 23, 2024. The extension follows disruptions caused by nationwide protests that began on the offer’s launch date, which have affected business operations and investor mobility across the […]

News

Zenith Bank records N2.1tn half-year gross earnings

Zenith Bank Plc has reported a substantial 117% increase in gross earnings, rising from N967.3 billion in H1 2023 to N2.1 trillion in H1 2024. This growth is attributed to significant gains in both interest and non-interest income. In its half-year financial results filed with the Nigerian Exchange Limited, Zenith Bank recorded a 108% year-on-year […]

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