This award has confirmed a trend in the banking industry which explains the reality of astute corporate governance and the benefits of hind-sight in corporate management. As a stand-alone investigation, there are strong indications that in the Nigerian banking industry these institutions will always stand to be counted. Our reports simply corroborate what has been ordained to the banks within the very top realm of financial institution rating platforms.
When the result of the just concluded subscription for the shares of that bank is made public, there will obviously be an upsurge for a piece of the bank’s cake based on the fact that investors always have their eyes on stocks that have earned the global acclaims that can guarantee their investment decisions. The question of consolidation for Zenith is embedded in its DNA as a matter of fact. The issue of sustainability has largely been seen by her numerous clientele long before international rating placed their indelible stamps on it. This could be a conglomeration of the various high-standing characters of the bank and the year-round market acceptance and standing over a lot other viable financial institutions.
The Nigerian banking industry is replete with outstanding performers that have since been seen by others as the obvious yardsticks where global benchmarks reside. Thus, the bank has been authoritative as a financial institution and has also been creative as a workplace icon while its value addition transcends the known Nigerian banking best practice and standards. This revered accolade is believed to have the potency of moving higher as it continues setting enviable standards that have become points of reference in the industry. Considered as a good corporate citizen, the title of sustainability icon comes with great sacrifice and this can be seen from the point of view of making sure that the institution does not at any time intend to compromise the already established standards which finds semblance and substance with its name and credo around its market. The arrival of Dr Adaora Umeoji as the CEO further elevates the institution as strong and sustainable in words and deed at a time very little capitalized institutions have not summoned the courage to trust a highly skilled female technocrat with a job at this level. The issue of trust is known to have resided on institutions and helmsmen who have the staying power to understand the characters they have employed.
With a huge investment banking customer base, international banking outlook, fast growing retail bank ideas, sound ITC portability, creative human resources pool and beautiful corporate social responsibility, as well as an inspiring future for international financial outlook, the issue of stronger level of sustainability will be a matter of finding a new appropriate name where it can deliver more enticing reforms in the industry. Zenith Bank Plc. for the second consecutive year, was named the ‘Most Sustainable Bank in Nigeria’ in the International Banker 2024 Banking Awards.
The bank’s historical and current financial performance, presence in five continents, all generating stronger values, SME’s trade financing, Agriculture, Imports, Exports, sustainable imprints as well as the group’s prospects, , more than enough qualifies the bank for the awards. Zenith Money Market, Open-Ended Fund of low risk in nature managed by Quantum Zenith has remained a formidable source of strength and earnings to investors since 2017, the fund was established.
With a 91 day bench Treasury bill rate benchmark and effective yield of Effective Yield: 10.46% since June 14, 2023,
the fund has become a rallying earning point for investors.Zenith Bank’s spread across major continents globally, alludes to its fortification, and always ready to deliver on promises to shareholders and stakeholders. With subsidiaries and representative offices in Ghana, Sierra alone, Gambia, UK, UAE and China, having obtained a license to open up a Paris branch, zenith prides as global player., conforming to global standards and laden with values that meet discerning investors objectives.
Leverage on its Paris branch to consolidate most of its businesses in the Francophone African countries, it is indeed cheering, to note that all these subsidiaries are making profits and contributing to the growth of the group.
The bank has a track record of consistent dividend payment annually, laced with interim dividend payment every year, two rewards for investors for every financial year and no recorded case of management dispute reflecting a focused board with structured succession plan , which saw the emergence of its present Group Managing Director/CEO, Dame (Dr.) Adaora Umeoji.
Liquid stock with consistent high volume turnover recorded daily on the NGX Exchange
Listed on the premium board of the NGX of the banking subsector of the financial services sector, Zenith Bank as at the close of trade on the NGX Exchange on Thursday, Zenith bank’s market capitalization closed at N1, 177,368,516,975.00 trillion, while outstanding shares stood at 31,396,493,786.00 billion.
Taking into account that Zenith had attained a 52 weeks high equity price of N47.35 per share and 52 low pricing of N29.7 per share, the stock has wider growth trajectory.
Zenith staff providence fund on September 23, 2024, purchased and aggregate volume of 2,083,703 units of shares @ N37.29 per share. Priced at N37.50 per share at the close of trading on 10th September, the bank is assessed by experts as trading at bellow real value, and this offers investors core investment opportunity.
The bank has formidable niche in investment banking space not only in Nigeria, but across all other countries where it has made formidable imprint.
Zenith Bank’s Chief Financial Officer/General Manager, Dr Mukhtar Adam, had earlier at the 2024 AGM to consider 2023 financial results pointed out that in the last five years, the bank’s Compound Annual Growth Rate (CAGR) in revenue has grown by over 27 per cent.
“This continues to grow year-on-year. Within this period, at some point, Nigeria went into recession, but we forged ahead, worked very hard, and continued to deliver growth. Within the last five years, our profit before tax has also grown cumulatively by about 28 per cent. This is a market where, at some point, government instruments – treasury bills – were paying one per cent, two per cent, three per cent. But we forged ahead to grow the numbers and provide stable returns of at least 28 per cent.”
It was therefore not surprising that Zenith Bank recently emerged as the Best Commercial Bank, Nigeria, in the World Finance Banking Awards 2024, retaining the award for the fourth consecutive year. The bank was also named Best Corporate Governance, Nigeria, for the third year running in the World Finance Corporate Governance Awards 2024. The awards, published in the Summer 2024 issue of World Finance Magazine, recognize the bank’s robust financial performance, superior customer service, sustainability.
It is on record that the bank has over the years sustained the non-Oil export tempo in the industry which has been a most viable learning and funding field for exporters who have very big picture to create in the Nigerian economy. This idea has expounded the shrinking non- oil export income to the very interest and admiration of most of the major players in the export market. This has been a major liquidity boast for the revenue end of the entire economy. It has seriously featured in areas that offer enduring legacies to the economy. These very issues that have very rich monetary policy support have remained highly sustainable by the bank.
