For the fifteenth year running, Zenith Bank Plc has been recognized as the leading bank in Nigeria by Tier-1 Capital, according to the 2024 Top 1000 World Banks’ Rankings published by The Banker Magazine. The bank secured the 565th position globally with a Tier-1 Capital of $2.01 billion.
This ranking, featured in the July 2024 edition of The Banker Magazine by the Financial Times Group, highlights Zenith Bank’s ongoing financial strength and stability. The rankings are based on Tier-1 capital figures from the end of 2023 and are widely used by international organizations to assess bank financials.
Tier-1 Capital is a key regulatory measure of a bank’s financial health. It includes core capital elements such as common stock, disclosed reserves, retained earnings, and minority subsidiary interests.
A robust Tier-1 capital ratio enhances confidence among investors and depositors, signalling that the bank is well-capitalized and financially stable.
Dame (Dr.) Adaora Umeoji, Group Managing Director/CEO of Zenith Bank Plc, expressed pride in the achievement: “We are deeply honoured to be recognized as the Number One Bank in Nigeria by Tier-1 Capital for the fifteenth consecutive year. This acknowledgement reflects our commitment to sustainable growth, innovation, and customer satisfaction. It also underscores our resilience in adapting to the dynamic financial landscape. Our dedicated team has been pivotal in maintaining our leadership position in the banking industry.”
Umeoji also praised Dr. Jim Ovia, Founder and Chairman of Zenith Bank, for his visionary leadership, which has been crucial in building a resilient and successful institution.
2023 Zenith Bank demonstrated exceptional financial performance with a 125% increase in gross earnings, rising from N945.6 billion in 2022 to N2.132 trillion. This impressive growth has enhanced its market share in both retail and corporate sectors, even amidst a challenging macroeconomic environment.
