Zenith named best bank in Nigeria

Zenith Bank Plc has been ranked number one in Nigeria.

The ranking was done by Tier-1 Capital in the 2020 Top 1000 World Banks Ranking published by The Banker Magazine.

The ranking which was published in the July 2020 edition of the magazine of the Financial Times Group, United Kingdom, was based on the 2019 year-end Tier-1 capital of banks globally.

Climbing 29 spots from 415 in 2019 to 386 in the 2020 global ranking of banks, Zenith retained its position as the number one Tier-1 bank in Nigeria with Tier-1 Capital of $2.79bn, an increase of 16.1per cent on the $2.40bn recorded in the 2019 rankings.

According to the Ranking Report, Zenith Bank extended its lead over the second-placed bank in Nigeria. Zenith’s financial performance for the year was underpinned by a 29 percent increase in non-interest income, with an improved market share in both retail and corporate sectors.

Speaking on the latest ranking, the Group Managing Director/Chief Executive, Ebenezer Onyeagwu said: “This ranking, which further attests to our market leadership, is the outcome of a well-thought-out strategy of always delighting and creating value for our teeming customers through a broad range of superior product offerings, best-in-class service and top-of-the-range technology.”

Recent awards received by the bank include ‘Best Commercial Bank in Nigeria 2019’ by the World Finance and the ‘Best Digital Bank in Nigeria 2019’ by Agusto & Co.

It was voted as ‘Bank of the Year’ and ‘Best Bank in Retail Banking’ at the 2019 BusinessDay Banks and other Financial Institutions (BAFI) Awards.

Most recently, the bank was recognized as the ‘Most Valuable Banking Brand in Nigeria,’ for the third consecutive year.

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