Zenith bank has established correspondent banking relationships with banks outside Nigeria. All international transactions are routed through the networks of the following correspondent banks.
In July 2004, the Bank became a public company limited by shares and subsequently launched what still remains the most successful Initial Public Offering (IPO) in the history of the Nigerian Capital Market. It received an overwhelming investor affirmation by a subscription rate of 556% and about 289,489 subscribers.
The Banks 6,000,000,000 (six billion) ordinary shares of 50 kobo each were subsequently listed on the Nigerian Stock Exchange on October 21, 2004. Zenith Bank Plc achieved yet another milestone when it raised N53.63bn in February 2006 by a Public Offer of 3,000,000,000 (three billion shares), one of the largest amount in the history of the Nigerian Capital Market.
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With over one hundred and eighty (180) business offices, connected online-real time, the Zenith franchise covers all the state capitals, the Federal Capital Territory (FCT), and major towns and cities in Nigeria. The Bank’s wide area network facility is efficiently deployed and seamlessly integrated through a related communication company.
The Bank’s business location strategy and infrastructure deployment reflect its commitment to customer enthusiasm at all times in all business offices nationwide. The same unique brand of financial services awaits customers in each location.
This has made the brand of first choice in banking to all the multinational companies in Nigeria and accounts for its wide customer base. Zenith Bank Plc has continued to pioneer the introduction of e-solutions products to meet and surpass customer needs, anchored on its in-depth knowledge and extensive financing experience of the public and private sectors in Nigeria.
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Zenith Bank Plc is one of the largest and most profitable banks (post consolidation) in Nigeria with total assets plus contingents of over N714.5 billion as at 30 June 2006. The operating results for the year ended 30 June 2006 showed that profit before tax was N15.2 billion while its shareholders’ funds stood at N93.8 billion. The Bank has continued to record impressive
performance on several parameters.
This demonstrates rising customer patronage, and a
strong endorsement of the brand across the country. Zenith Bank’s growth and performance has earned excellent ratings from both local and international rating agencies. The Bank has been rated Aaa in Nigeria consecutively for the past six (6) years by Agusto & Co. Ltd. It also has the lowest nonperforming loans to total loans ratio of 1.7% against the industry average of 18% and has grown its asset base at an average of over 50% per annum in the last five years.
Zenith Bank Plc continues to be committed to being a leading light in the deployment and utilization of Information and Communications Technology (ICT) for financial services delivery, with its service offering covering, but not limited to :
• Corporate and Commercial Banking Services
• E-business Solutions including local and international card business
• Treasury and Cash Management Services
• Foreign Exchange and Trade Finance Services
• Funds/Assets Management
• Private Banking
• Investment Banking and Financial Advisory Services
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Specialized financial and advisory services are similarly offered through the following subsidiaries of the bank :
Zenith Securities Limited – a securities trading and asset management company.
Zenith Registrars Limited – share registration services.
Zenith General Insurance Company Limited – insurance and risk underwriting company.
Zenith Pensions Limited – a pensions custodian management company.
Zenith Trust Company Limited – a trusteeship services company.
Zenith Medicare Limited – a medical insurance company.
Zenith Bank (Ghana) Limited – a banking subsidiary.
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From inception, Zenith Bank clearly set out to differentiate itself in the banking industry through its service quality, drive for a unique customer experience and the calibre of its client base. Today, it is easily associated with the following attributes in the Nigerian banking industry :
• Innovation
• Best risk assets portfolio
• Consistent superior financial performance
• High quality personnel
• Leadership in the use of Information and Communication Technology (lCT)
• Consistent in raising the bar of competition, and
• Formidable marketing team
The overall vision of the bank is to make the Zenith brand a reputable international financial services network recognised for innovation, superior customer service and performance while creating premium value for all stakeholders.
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The key strategies that will enable us deliver our vision are :
• To deliver superior and tailor-made service experience to all our customers at all times.
• Develop deeper and broader relationship with all clients and strive to understand their individual and industry peculiarities with a view to developing specific solutions for each segment of our customer base.
• Significantly expand our operations by adding various distribution channels and entering into new markets.
• Maintain our position as a leading service provider in Nigeria while expanding our operations internationally in West Africa and the financial capitals of the world.
• Strive to be a leading service provider in Nigeria by continuing to build on longstanding relationships, capabilities and the strength of our brand and reputation.
• Expand our business through the establishment of key subsidiaries for the provision of non-bank financial services to accentuate the service offerings and experience of our customers.
• Continually enhance our processes and systems platforms to deliver new capabilities and improve operational efficiencies and achieve economies of scale.
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