Zenith Bank ranked number one bank in Nigeria for the 13th consecutive year

Zenith Bank ranked number one bank in Nigeria for the 13th consecutive year: The 2022 Top 1000 World Banks Ranking was published by The Banker Magazine, and Zenith Bank Plc was ranked as the top bank in Nigeria by Tier-1 Capital. This ranking was used to determine which banks were the best in the world.

With a Tier-1 Capital of $2.75 billion and ranking as the 460th Bank worldwide, the Bank has maintained its position as the top Tier-1 bank in Nigeria for the 13th year in a row, making it the 460th Bank overall.

The rating, which was based on the Tier-1 capital of banks throughout the world as of the end of the 2021 fiscal year, was published in the July 2022 issue of The Banker Magazine, which is part of the Financial Times Group in the United Kingdom.

Despite a very challenging macroeconomic environment that was made worse by the COVID-19 pandemic, Zenith Bank was still able to post a positive financial performance for the year thanks to double-digit growth of 10% in gross earnings. The bank also saw an improvement in its market share in both the retail and corporate sectors.

Ebenezer Onyeagwu, Group Managing Director and Chief Executive Officer of Zenith Bank Plc, made the following statement in response to the announcement of the 2022 Top 1000 World Banks Ranking: “This ranking is a testament to our resilience and doggedness as an institution despite economic headwinds and a persistent challenging macroeconomic environment.”

Indeed, being named as the Number One Bank in Nigeria by Tier-1 Capital for the thirteenth year in a row demonstrates our commitment to maintaining the exceptional performance for which we are well-known and to producing value for our highly respected customers.

Onyeagwu expressed his gratitude to Zenith Bank Plc Founder and Chairman Jim Ovia for his direction and for laying the foundation and building the structures of an enduring and very successful institution; the Board for the exceptional leadership they provide; the staff, whose drive and commitment sustains the exceptional performance; and the Bank’s customers for their unwavering loyalty to the Zenith brand. Onyeagwu also thanked the Bank’s customers for their unflinching loyalty to the

The term “Tier 1 Capital” refers to a bank’s capital adequacy, which is the primary indicator used by regulators to evaluate the institution’s ability to meet its financial obligations.

According to the ranking, Tier 1 Capital, as defined by the most recent guidelines issued by the Bank for International Settlements, consists of loss-absorbing capital, which is defined as common stock, disclosed reserves, retained earnings, and minority interests in the equity of subsidiaries that are less than wholly owned. Other forms of Tier 1 Capital include disclosed reserves, retained earnings, and minority interests in the equity of wholly owned subsidiaries.

This newest distinction follows on the heels of multiple recognitions, including being recognized as the Best Bank in Nigeria for three consecutive years from 2020 to 2022, at the Global Finance Prizes. Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards.

World’s Best Banks Awards; Best Commercial Bank, Nigeria 2021 and 2022 in the World Finance Banking Awards; Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022; Best in Corporate Governance ‘Financial Services’ Africa, for three consecutive years from 2020 to 2022, by the 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. World’s Best Banks Awards; Best Commercial Bank

In addition to this, the Bank was awarded the title of Most Valuable Banking Brand in Nigeria by Banker Magazine’s Top 500 Banking Brands 2020 and 2021, as well as the title of Retail Bank of the Year by BusinessDay’s Banks and Other Financial Institutions (BOFI) Awards 2020 and 2021. Both of these accolades were bestowed upon the Bank.