Zenith Bank Plc was established in May 1990, and commenced operations in July of the same year as a commercial bank. The Bank became a public limited company on June 17, 2004 and was listed on the Nigerian Stock Exchange (NSE) on October 21, 2004 following a highly successful Initial Public Offering (IPO). Zenith Bank Plc currently has a shareholder base of about one million and is Nigeria’s biggest bank by tier-1 capital. In 2013, the Bank listed $850 million worth of its shares at $6.80 each on the London Stock Exchange (LSE).
Headquartered in Lagos, Nigeria, Zenith Bank Plc has over 500 branches and business offices in prime commercial centres in all states of the federation and the Federal Capital Territory (FCT). In March 2007, Zenith Bank was licensed by the Financial Services Authority (FSA) of the United Kingdom to establish Zenith Bank (UK) Limited as the United Kingdom subsidiary of Zenith Bank Plc. Zenith Bank also has subsidiaries in: Ghana, Zenith Bank (Ghana) Limited; Sierra Leone, Zenith Bank (Sierra Leone) Limited; Gambia, Zenith Bank (Gambia) Limited. The bank also has representative offices in South Africa and The People’s Republic of China. The Bank plans to take the Zenith brand to other African countries as well as the European and Asian markets.
Zenith Bank Plc blazed the trail in digital banking in Nigeria; scoring several firsts in the deployment of Information and Communication Technology (ICT) infrastructure to create innovative products that meet the needs of its teeming customers. The bank is verifiably a leader in the deployment of various channels of banking technology, and the Zenith brand has become synonymous with the deployment of state-of-the-art technologies in banking.
Driven by a culture of excellence and strict adherence to global best practices, the Bank has combined vision, skillful banking expertise, and cutting-edge technology to create products and services that anticipate and meet customers' expectations; enable businesses to thrive and grow wealth for customers.
Zenith Bank Plc, founded by Jim Ovia in 1990, has, since grown astronomically to become one of the leading financial institutions in Africa. Zenith Bank Plc currently ranks as the 6th biggest bank in the continent. The Bank grew its shareholder’s fund of N20million in 1990 to N509.25billion as at year end 2013. Today, the Bank continues to thrive on the strong values, brand equity, corporate culture of professionalism and service excellence which are the foundations upon which the bank was built.
Zenith Bank is a leader in financial solutions in most facets of banking and we cater to the banking needs of our customers in the public and private sectors.
Zenith Bank's core businesses include:
Corporate and Investment Banking
Commercial and Consumer Banking
Personal and Private Banking
Trade Services and Foreign Exchange
Treasury and Cash Management Services
Other Non-Bank Financial Services mainly through subsidiaries
The Bank will continue to offer specialised financial services such as Pension Management but would discontinue services in Insurance, Capital Market dealings, Trusteeship, Registrar, Mortgage and financial advisory services in line with its decision to adopt the commercial banking license with international authorisation.
The Zenith Culture is and always will be exceptional service delivery that surpasses customer expectations. This we do according to global best practices and with the highest ethical standards. This has endeared us to our customers who trust us to always work in their best interests.
Our emphasis on employing the best has attracted the most professional, intelligent, and highly motivated workforce in the industry that discharges its duties with the utmost integrity and professionalism.
We place unwavering emphasis on our core business strategy anchored on People, Technology and Service.
At Zenith Bank, our people are our most valuable asset. We attract, motivate, and retain a highly talented pool of people from diverse backgrounds and skills who work synergistically to offer premium services to our customers. We have built an inclusive work environment where everyone is valued and can succeed based on merit.
Technology is at the core of the business strategy of Zenith Bank. We deploy global best innovative technology infrastructure which enables us meet the dynamic needs of our customers on time. Our investments in the best technologies have put us at the forefront of technology in our environment - a position we are determined to maintain.
For us at Zenith Bank, "the customer is the reason we are in business"; and this is not a mere mantra. Exceptional service delivery is our flagship and we define service standards in our business environment. Our dedicated professional workforce utilise our state of the art technologies to deliver exceptional services that are tailor-made to suit the specific and dynamic needs of our customers.
The Bank's customer base comprises mainly corporate entities many of which are subsidiaries of multinational corporations and large indigenous companies. Our lending strategy stresses rational procedures and transparency. As a result of this approach, the Bank's credit portfolio has about the best asset quality in the Nigerian banking industry. The Bank's non-performing loans to total loans ratio has always been less than industry average since inception and through the thick of the global financial crises in 2008/2009.
The Bank's customer base, which is well in excess of 1.6 million accounts, cuts across the following sectors:
Oil and Gas
Power and Infrastructure
ICT and Telecommunications
Real Estate, Building and Construction
Transport, Shipping and Aviation
Commodities and General Commerce
Zenith Bank has clearly distinguished itself in the banking industry through superior service quality, unique customer
experience and sound financial indices. These have become part of our corporate culture to the extent the bank is easily
associated with the following attributes; Best-in-class customer experience, creativity, excellent financial performance,
good asset quality, stable management, dedicated and highly skilled work-force, cutting-edge Information and Communication
Technology, efficient and effective distribution channels.
Within twenty-two years, Zenith bank has demonstrated rare resilience and has witnessed exponential growth in virtually all areas. Today,
Zenith is undoubtedly one of Nigeria's strongest financial services institutions and one of the country's largest banks by market capitalization,
shareholders fund and profitability.
Zenith Bank's impressive growth pattern and performance over the years have earned it excellent ratings, recognitions and endorsement from local and international agencies and institutions:
The Banker Magazine, a publication of the Financial Times of London in a 2013 survey, rates Zenith as the Biggest bank in Nigeria by tier-1 capital.
Forbes & CNBC Africa ranks Zenith bank as the 3rd biggest company in West Africa.
Capital Finance International (CFI) adjudged the bank the Best Commercial Bank in Africa.
World Finance voted the bank as the Best Nigerian Bank in Corporate Governance.
In 2012, Zenith Bank was recognized as one of the 30 Outstanding Global Brands making sustainable impact on their operating environment. This recognition was prelude to the United Nations Development Programme's (UNDP) Conference on Sustainable Development (Rio+20) which held in Rio de Janeiro, Brazil in June 2012.
KPMG rated Zenith bank as the Best Customer-Focused Bank in Nigeria.
Going forward, our challenges will include, though not limited to, further elevating our standing as a reputable financial institution by establishing a corporate structure that can stay imperturbable. However, I am glad that we are well positioned and adequately equipped to remain at the forefront of Nigeria's financial services sector..