Zenith Bank ranked Nigeria’s best commercial bank three years running by Tier-1 Capital

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Zenith Bank Plc has been ranked as the number one bank in Nigeria by Tier -1 Capital in the 2021 Top 1000 World Banks Ranking published by The Banker Magazine.

This will be the third consecutive year the bank retained its position as the number one Tier-1 bank in Nigeria with a Tier-1 Capital of $2.64 billion, emerging as the 454th bank globally and the only Nigerian bank in the top 500.

The bank’s Group Managing Director/Chief Executive, Mr Ebenezer Onyeagwu, disclosed this in a statement on Wednesday in Lagos. According to him, “The report was published in the July edition of the Banker Magazine of Financial Times Group, based on the 2020 year-end Tier-1 capital of banks globally.

Onyeagwu added that the bank is winning the award for the 3rd consecutive year as it retained its status of Tier-1 Capital with $2.64 billion, ranking 454th globally.

“This ranking is a demonstration of our resilience and doggedness as an institution given the very challenging macroeconomic environment brought about by the COVID-19 pandemic, which had a significant deleterious impact on businesses globally.

It is also an affirmation of our commitment to delighting and creating value for our customers through a broad range of superior product offerings, best-in-class service, and top-of-the-range technology,” he said.

He also revealed that its financial performance was based on an eight per cent growth in non-interest income, improving its market share in both retail and corporate banking despite challenges posed by the pandemic.

This award is the latest amongst several awards and recognitions that the bank has received in recent times for its track record of excellent performance and commitment to global best practices.

Zenith Bank was voted as Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020, Best Bank in Nigeria in the Global Finance World’s Best Banks Awards 2020 and 2021, and Best Corporate Governance ‘Financial Services’ Africa 2020 and 2021 by the Ethical Boardroom.

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