For the 15th consecutive year, Zenith Bank Plc has retained its position as the number one bank in Nigeria by Tier-1 Capital in the 2024 Top 1000 World Banks’ Rankings, published by The Banker Magazine.
The ranking places Zenith Bank as the 565th bank globally with a Tier-1 Capital of $2.01 billion. The rankings, published in the July 2024 edition of The Banker Magazine of the Financial Times Group, United Kingdom, recognise Zenith Bank’s continued financial strength and stability.
Tier-1 Capital describes capital adequacy, the core measure of a bank’s financial strength from a regulator’s perspective. According to the ranking, Tier-1 Capital, as defined by the latest Bank for International Settlements guidelines, includes loss-absorbing capital, that is, common stock, disclosed reserves, retained earnings and minority interests in the equity of subsidiaries that are less than wholly owned.
A strong tier-1 capital ratio boosts investor and depositor confidence, indicating the bank is well-capitalised and financially stable. Commenting on this achievement, the Group Managing Director/CEO of Zenith Bank Plc, Dr Adaora Umeoji, said: “We are deeply honoured to be recognised as the Number One Bank in Nigeria by Tier-1 Capital for the fifteenth consecutive year. This recognition is a testament to our strategic focus on sustainable growth, innovation and customer satisfaction. It also emphasises our resilience and strength in navigating the ever-evolving financial landscape.
She extended her appreciation to the founder and chairman, Dr Jim Ovia, CFR, whose visionary and transformational leadership has played a pivotal role in cultivating a resilient and thriving establishment. She also expressed her deep appreciation for the board’s insightful governance, the staff’s relentless dedication and the unwavering loyalty of the bank’s esteemed customers to the Zenith brand.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Zenith Bank retains Best Commercial Bank in Nigeria and Best Corporate Governance awards, 2024The bank was also named as Best Corporate Governance, Nigeria for the third year running in the World Finance Corporate Governance Awards 2024.
Read more »
Zenith Bank wins ‘Best Commercial Bank in Nigeria’ and ‘Best Corporate Governance’ awardsZenith Bank Plc has emerged as the Best Commercial Bank, Nigeria in the World Finance Banking Awards 2024, retaining the award for a fourth consecutive year.
Read more »
Zenith retains Nigeria’s ‘Best Commercial Bank’ awardZenith Bank Plc has emerged as the Best Commercial Bank, Nigeria in the World Finance Banking Awards 2024, retaining the award
Read more »
Zenith Bank “poised to cross N1 trillion mark in profit in 2024”Managing Director Adaora Umeoji says Zenith Bank is looking to raise N230 billion because it is already at N270.7 billion.
Read more »
Why Zenith Bank enjoys high investors’ confidence, by UmeojiThe Nation Newspaper Why Zenith Bank enjoys high investors’ confidence, by Umeoji
Read more »
Zenith Bank set to unveil capital-raising driveZenith Bank Plc, is on the verge of concluding arrangements to unveil its capital raising drive aimed at meeting the Central Bank of Nigeria, CBN’s new capital base for the banking sector.
Read more »