Zenith Bank Plc has been ranked as the Number One Bank in Nigeria by Tier-1 Capital inthe 2022 Top 1000 World Banks Ranking published by The Banker Magazine.
For the thirteenth consecutive year, the Bank retained its position as the number one Tier-1 bank inNigeria with a Tier-1 Capital of $2.75 billion, emerging as the 460th Bank globally.
The ranking, which was published in the July 2022 edition of The Banker Magazine of theFinancial Times Group, United Kingdom, was based on the 2021 year-end Tier-1 capital ofbanks globally. Zenith Bank’s financial performance for the year was underpinned bydouble-digit growth of 10% in gross earnings, with an improved market share in both retailand corporate sectors despite a very challenging macroeconomic environment aggravatedby the COVID-19 pandemic. Commenting on the 2022 Top 1000 World Banks Ranking, the Group ManagingDirector/CEO of Zenith Bank Plc, Mr. Ebenezer Onyeagwu, said: “This ranking is atestament to our resilience and doggedness as an institution despite economic headwindsand a persistent challenging macroeconomic environment. Indeed, being ranked as theNumber One Bank in Nigeria by Tier-1 Capital for the thirteenth year in a row underscoresour commitment to sustaining the superior performance we are renowned for and creatingvalue for our highly esteemed customers.” He expressed his appreciation to the Founderand Chairman of Zenith Bank Plc, Jim Ovia, CON, for his guidance and for laying thefoundation and building the structures of an enduring and very successful institution; theBoard for the outstanding leadership they provide; the staff, whose drive and commitmentsustains the exceptional performance; and the Bank’s customers for their unflinching loyaltyto the Zenith brand.Tier 1 Capital describes capital adequacy, which is the core measure of a bank’s financialstrength from a regulator’s point of view. According to the ranking, Tier 1 Capital, as deﬁnedby the latest Bank for International Settlements (BIS) guidelines, includes loss-absorbingcapital, i.e. common stock, disclosed reserves, retained earnings and minority interests inthe equity of subsidiaries that are less than wholly owned.Zenith Bank’s track record of excellent performance has continued to earn the brandnumerous awards, with this latest accolade coming on the heels of several recognitions, including being recognised as the Best Bank in Nigeria for three consecutive years from2020 to 2022, in the Global Finance World’s Best Banks Awards; Best Commercial Bank,Nigeria 2021 and 2022 in the World Finance Banking Awards; Best Corporate GovernanceBank, Nigeria in the World Finance Corporate Governance Awards 2022; Best in CorporateGovernance ‘Financial Services’ Africa, for three consecutive years from 2020 to 2022, bythe Ethical Boardroom; Best Commercial Bank, Nigeria and Best Innovation In Retail banking, Nigeria in the International Banker 2022 Banking Awards; and Bank of the Year(Nigeria) in The Banker’s Bank of the Year Awards 2020.
Also, the Bank emerged as theMost Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands2020 and 2021, and the Retail Bank of the year at the BusinessDay Banks and OtherFinancial Institutions (BOFI) Awards 2020 and 2021.Similarly, Zenith Bank was honoured as Bank of the Decade (People’s Choice) at theThisDay Awards 2020 and emerged winner in four categories at the Sustainability,Enterprise, and Responsibility (SERAS) Awards 2021, carting home the awards for “BestCompany in Reporting and Transparency”, “Best Company in Infrastructure Development”,”Best Company in Gender Equality and Women Empowerment”, and the coveted “MostResponsible Organisation in Africa.