In the 2024 Top 1000 World Banks’ Rankings released by The Banker Magazine, Zenith Bank Plc has once again solidified its leadership, ranking as the top bank by Tier-1 capital in Nigeria for the fifteenth consecutive year.
The July 2024 edition of the UK-based publication places Zenith Bank Plc at 565th globally with a Tier-1 capital of $2.01 billion. The ranking reflects Zenith Bank’s ongoing financial strength and stability, bolstering investor and depositor confidence and highlighting the bank’s robust capitalization.
The Banker Magazine’s report emphasizes that Zenith Bank’s ranking is indicative of its financial health, characterized by a well-capitalized structure and sustainable growth. The Tier-1 capital, as defined by the Bank for International Settlements, includes common stock, disclosed reserves, retained earnings, and minority interests in less than wholly owned subsidiaries.
Dr. Adaora Umeoji, the Group Managing Director/CEO of Zenith Bank Plc, described the ranking as “a testament to our strategic focus on sustainable growth, innovation, and customer satisfaction.” She credited the bank’s dedicated team of professionals and acknowledged the support of the bank’s founder and chairman, Dr. Jim Ovia, and the board of directors.
Zenith Bank’s remarkable financial performance over the past year has been driven by a significant 125% increase in gross earnings, rising from N945.6 billion in 2022 to N2.132 trillion in 2023. This triple-digit growth underscores the bank’s strong market position and its continued commitment to excellence in the banking industry.
The institution’s sustained success is attributed to the unwavering dedication and loyalty of its staff, whose efforts have ensured Zenith Bank remains at the forefront of the banking sector.
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