By Babajide Okeowo
For its ability to deliver returns, gain strategic advantage, and serve its markets, Zenith Bank Plc has emerged as Bank of the Year in Nigeria in The Banker’s Bank of the Year Awards 2020.
The award was announced by The Banker Magazine, Financial Times Group, United Kingdom, during a virtual awards ceremony.
According to the award organizer, the award was based on individual banks’ ability to deliver returns, gain strategic advantage, and serve their markets.
Commenting on the award, the Group Managing Director/CEO of Zenith Bank Plc., Ebenezer Onyeagwu expressed his joy at clinching the award.
“It is a thing of joy for us in Zenith Bank to have been recognized by The Banker, Financial Times Group, as the Bank of the Year 2020 in Nigeria. I dedicate this award to our staff for their commitment, doggedness, creativity, and very outstanding talents. It is in the talents of our staff that the Bank has continued to build dynamic competencies and capabilities that are driving our business for continued superior performance” Onyeagwu enthused.
He reserved special praise for the Group Chairman, Jim Ovia, for the pioneering and foundational role he played in building the structures and laying the foundation for an enduring and very successful institution while thanking the Board for the deep insights and outstanding leadership they provide, as well as the Bank’s teeming customers for their support which has enabled the Bank to prove to the market what it can deliver.
Zenith Bank has continued to distinguish itself in the Nigerian financial services industry through superior service offerings, unique customer experience, and sound financial indices. The bank has remained a clear leader in the digital space with several firsts in the deployment of innovative products, solutions, and an assortment of alternative channels that ensure convenience, speed, and safety of transactions.
As a testament to its resilience and market leadership, Zenith Bank announced an impressive result for the year ended December 31, 2019, with profit after tax (PAT) of N208.8 billion, achieving the feat as the first Nigerian Bank to cross the N200 billion mark. In the recently released Q3 2020 unaudited financial results, the bank recorded an improved result over the corresponding period in 2019, with gross earnings rising by 4 percent to N509 billion and profit before tax (PBT) rising marginally by 1 percent to N177 billion, an indication of the Group’s resilience given the challenging macro-economic environment due to the Coronavirus (COVID-19) pandemic.
Recall that this award follows the recent awards like the Most Valuable Banking Brand in Nigeria and the Number One Bank in Nigeria by Tier-1 Capital by The Banker won earlier in the year.
The award is also regarded as the industry standard for banking excellence, The Banker’s Bank of the Year awards is contested by the world’s leading financial institutions, with winners chosen across Africa, Asia-Pacific, Central & Eastern Europe, Latin America, the Middle East, North America, and Western Europe.