CEO Adaora Umeoji Tells All Areas Zenith Bank Is No 1

In a  development that shows how strongly Zenith Bank is performing as market leader, Chief Executive Officer – and Group Managing Director – Adaora Umeoji has highlighted the areas the financial institution remains leader by kilometers.

Umeoji provided the highlights – backed by figures – at the recently held “Facts Behind The Offer”, in regards to the bank’s ongoing Hybrid Rights Issue and Public Offer, aimed at raising N290 billion.

The event was held on Monday, August 12, 2024.

Addressing a combined audience of stock brokers, shareholders, investing public and the leadership of the NGX, the Zenith Bank Group Managing Director,  who shared the amazing results from leveraging the solid foundation and strong corporate governance laid by by “founding father  and godfather of modern banking”, Jim Ovia declared that ” Ladies and gentlemen … when I say we are number one, it is backed by facts and figures . We are the number one in tier 1 capital.  We are the number one in shareholders fund, we are the number in one in capital marker recapitalization,  we are the number one in profit after tax, we are the number one in dividend payout and we have a strong capital adequacy ratio and customer retention.

Zenith Bank is best in customer service delivery and customer engagement and we will continue to improve and leverage on all these successes  as you can see on the slide above, we are number one in all area. what else can you ask for”.

The Chief Executive of the market leader made the key proclamations to great applause – against the background of the data she provided.

According to data reeled out by the bank Chief Executive Officer, as of December 31, 2023, Zenith Bank’s Tier – 1 capital stood at N1.9 trillion, Shareholders fund recorded at N2.3trillion, the market recapitalization revealed to be N1.3trillion, N796billion profit before tax was posted and the bank sustained its status as the highest dividend paying financial institution for the fifth year with a N4.00 share. The bank’s total deposit liability is pegged at 15.2trillion while loan loan portfolio is fixed at N7.1trillion naira – with nnpl (non performing loan) standing at 4.4%, below industry average.

The total assets of the bank is valued at N20.4trillion with a network of 447 branches and cash centers,  2, 100 ATM (Automatic Teller Machine) and a Hood Network of agents to serve the un-served and under-served communities to the bargain.

 Aimed at raising N290 billion, the Zenith Bank Hybrid Rights Issue and Public Offer is a significant move to meet the Central Bank of Nigeria’s (CBN) new minimum capital requirement of N500 billion and also provide additional working capital to support its expanding operations and investments in information technology infrastructure.

With its issued and fully paid share capital standing at N15.698 billion, complemented by a share premium of N255.047 billion, Zenith Bank is offering its ongoing hybrid rights and public offers at the bank’s lowest price range, locking in about 32 percent gain in potential immediate return for existing shareholders and new investors