Zenith Bank, for 16th year, maintains Nigeria’s top Tier-1 spot
Zenith Bank
Zenith Bank, for 16th year, maintains Nigeria’s top Tier-1 spot
Zenith Bank Plc has maintained its position as the number one bank in Nigeria by Tier-1 Capital for the 16th consecutive year.
This is according to the 2025 Top 1000 World Banks’ Rankings, published by The Banker, Financial Times Group, United Kingdom in its July edition.
The latest ranking placed Zenith Bank Plc as the 581st bank globally, with a Tier-1 Capital of $2bn.
The ranking was based on the 2024 year-end Tier-1 capital of banks.
This is the primary basis for most international organisations’ assessments of banks.
Tier-1 Capital describes capital adequacy, the core measure of a bank’s financial strength from a regulator’s perspective.
According to the ranking, Tier-1 Capital, as defined by the Bank for International Settlements guidelines, includes loss-absorbing capital, i.e., common stock, disclosed reserves, retained earnings, and minority interests in the equity of subsidiaries that are less than wholly owned.
A strong Tier-1 capital ratio boosts investor and depositor confidence, indicating a bank is well-capitalised and financially stable.
In a statement on Thursday, the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dr Adaora Umeoji, said, “We are thrilled to have retained our position yet again as the Number One Bank in Nigeria by Tier-1 capital for the 16th consecutive year. This achievement is a reflection of the bank’s robust financial performance, prudent risk management and steadfast dedication to delivering exceptional value to our customers and stakeholders.”
Umeoji thanked the founder and chairman, Jim Ovia, for his visionary and transformative leadership, which has played a pivotal role in cultivating a resilient and thriving institution.
She also expressed her deepest appreciation to the bank’s esteemed customers for their continued loyalty to the Zenith brand, the Board for the sound corporate governance, and the staff for their relentless & tireless efforts in ensuring the bank’s success.
According to the audited financial results for the 2024 financial year filed with the Nigerian Exchange, Zenith Bank recorded a double-digit growth of 86 per cent in gross earnings, increasing from N2.13 trillion in 2023 to N3.97 trillion in 2024.
This growth was driven by a 138 per cent increase in interest income, supported by investment in high-yield government securities, and growth in the Bank’s loan book.
Zenith Bank’s profit before tax rose by 67 per cent, reaching N1.3tn in 2024 from N796bn in 2023.
This performance saw the bank record a total dividend payout of N195.67bn at N5.00 per ordinary share in the 2024 financial year.
