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Tag: Zenith bank

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 […]

Banking News

Zenith Bank named best commercial bank in 2024

Zenith Bank Plc has been named the Best Commercial Bank, Nigeria in the World Finance Banking Awards 2024, holding the title for the fourth consecutive year. The bank was also voted Best Corporate Governance, Nigeria, for the third year in a row at the World Finance Corporate Governance Awards 2024. The awards, which appeared in […]

Banking

Zenith Bank wins Nigeria’s best bank award

Zenith Bank Plc has emerged as the Best Bank in Nigeria in the Global Finance Best Banks Awards 2024 for the fourth time. This was contained in a statement from the bank on Monday which revealed that the bank had been winning the award since 2019. As Global Finance announced its 31st Annual Best Bank […]

Banking

UBA, Stanbic, two other banks fail to file 2023 results

Four banks have disclosed that they will delay the filing of their audited results for 2023. The United Bank for Africa, Zenith Bank, Stanbic IBTC, and Wema Bank had announced that they would not meet the deadline for the filing of their audited results for the last financial year. The listed companies are expected to […]

Zenith bank appoints Adaora Umeoji as CEO
News

Zenith bank appoints Adaora Umeoji as CEO

One of Nigeria’s leading financial institutions, Zenith Bank, is poised to unveil Dame (Dr.) Adaora Umeoji is its incoming Group Managing Director/Chief Executive Officer (GMD/CEO). She will succeed Dr. Ebenezer Onyeagwu, whose five-year tenure as GMD/CEO has come to an end. her appointment aligns with Zenith Bank’s established succession plan, Nairametrics reported. The bank has […]

Global efforts intensify to address submarine cable ruptures
Banking

Banks suggest alternatives amid internet banking outage

As mobile applications and internet banking services continue to be unavailable for the second day in a row, some commercial banks affected by the undersea cable damage are now advising their customers to use alternative channels. First City Monument Bank particularly, in a message to its customers on Friday, urged them to use its ATMs […]

Gabriel Ukpeh retires as Zenith Bank's non-executive director
News

Gabriel Ukpeh retires as Zenith Bank’s non-executive director

Melvin Onwubuke   The Board of Zenith Bank Plc has announced the retirement of Mr. Gabriel Ukpeh as an Independent Non-Executive Director from the company. This was contained in the bank’s notice to the Nigerian Exchange Limited (NGX) and the investing public. The retirement took effect on 8 March 2024, as stated in the statement […]