At the 32nd Annual General Meeting (AGM) of Zenith Bank Plc, held virtually from the Civic Centre, Victoria Island, Lagos, on Tuesday, 2 May 2023, shareholders of the bank unanimously approved the proposed final dividend payment of NGN2.90 per share. This brings the total dividend for the 2022 financial year to NGN3.20 per share, with a total value of NGN100.47 billion.
In his opening statement at the AGM, Jim Ovia, CFR, Founder and Chairman of Zenith Bank Plc, expressed his gratitude to the shareholders for their unwavering loyalty, commitment, and support, which have been instrumental in the bank’s outstanding performance since its inception.
Group Managing Director/Chief Executive, Dr. Ebenezer Onyeagwu, extolled Zenith Bank Founder and Chairman, Jim Ovia, CFR, for establishing the legacy and providing the template for the bank’s continued superior performance. He also highlighted the Board and Management’s determination to maintain the bank’s growth trajectory in the coming years, with an emphasis on digital and retail banking.
Speaking at the AGM, Dr. Faruk Umar, President of the Association of the Rights of Nigerian Shareholders (AARNS), commended the Board and Management of Zenith Bank for consistently delivering value to shareholders, despite the challenging economic environment. He also praised the bank’s staff for their loyalty and dedication.
Chief Timothy Adesiyan, President, Shareholders Solidarity Association of Nigeria, expressed delight at the dividend payout and thanked the Board and Management for the outstanding performance that led to approving both an interim and final dividend during the year.
Also speaking, Mrs. Adenike David, National Coordinator of the Esteemed Shareholders Association of Nigeria, congratulated Zenith bank and Chairman on their exceptional performance, as evidenced by the numerous awards received during the 2022 financial year. She also praised the bank for paying an interim dividend of 30 kobo and a final dividend of 2.90 kobo.
Despite challenging macroeconomic conditions, Zenith Bank Group achieved a 24% growth in gross earnings, from NGN765.6 billion in the previous year to NGN945.5 billion in 2022. This was driven by a 26% YoY growth in interest income and a 23% YoY growth in non-interest income. Customer deposits grew by 39%, reflecting the bank’s market leadership and customers’ trust. Net-Interest-Margin (NIM) increased from 6.7% to 7.2%, positively impacted by the elevated yield environment. Operating expenses grew by 17% YoY, though still below the inflation rate. Total assets rose by 30%, primarily due to growth in customer deposits.
In 2023, Zenith Bank Group plans to expand its reach and reorganise into a holding company structure, adding new verticals to its businesses and pursuing growth in all chosen markets, locally and internationally.
Zenith Bank’s track record of excellent performances has continued to earn the brand numerous awards including being recognised as the Number One Bank in Nigeria by Tier-1 Capital, for the 13th consecutive year, in the 2022 Top 1000 World Banks Ranking published by The Banker Magazine; Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020 and 2022; Best Bank in Nigeria, for three consecutive years from 2020 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 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.
Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021, and Retail Bank of the year, for three consecutive years from 2020 to 2022, at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards.
Similarly, Zenith Bank was named as Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Most Innovative Bank of the Year 2019 by Tribune Newspaper, Bank of the Year 2020 by Independent Newspaper, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards.
31 comments
I happen to be commenting to make you know what a extraordinary experience my wife’s child found going through yuor web blog. She came to understand a lot of things, not to mention how it is like to have a marvelous coaching nature to make most people with ease thoroughly grasp specific advanced matters. You undoubtedly surpassed my expectations. I appreciate you for distributing such powerful, safe, edifying and as well as unique tips about the topic to Kate.
I’m really impressed with your writing skills as well as with the layout on your weblog. Is this a paid theme or did you customize it yourself? Either way keep up the nice quality writing, it’s rare to see a great blog like this one these days..
I appreciate, cause I found exactly what I was looking for. You’ve ended my 4 day long hunt! God Bless you man. Have a nice day. Bye
What Is FitSpresso? It is a nutritional formula that is produced by the Natures Formulas.
At this time it sounds like WordPress is the best blogging platform available right now. (from what I’ve read) Is that what you are using on your blog?
I cherished as much as you’ll receive performed right here. The caricature is attractive, your authored subject matter stylish. nevertheless, you command get bought an shakiness over that you wish be delivering the following. unwell without a doubt come more formerly once more since exactly the same just about very ceaselessly inside case you shield this hike.
Wohh exactly what I was searching for, regards for posting.
I’ve been browsing online greater than 3 hours these days, yet I by no means found any interesting article like yours. It is pretty value enough for me. In my view, if all webmasters and bloggers made just right content as you did, the net can be a lot more useful than ever before.
Great post. I was checking constantly this blog and I’m impressed! Very useful information specially the last part 🙂 I care for such info much. I was seeking this particular info for a very long time. Thank you and good luck.
Hello there, I found your web site via Google while looking for a related topic, your web site came up, it looks good. I’ve bookmarked it in my google bookmarks.
I was wondering if you ever thought of changing the structure of your website? Its very well written; I love what youve got to say. But maybe you could a little more in the way of content so people could connect with it better. Youve got an awful lot of text for only having 1 or 2 pictures. Maybe you could space it out better?
Hey very nice site!! Guy .. Excellent .. Wonderful .. I’ll bookmark your blog and take the feeds also…I am glad to seek out so many useful info right here within the publish, we’d like develop more techniques on this regard, thanks for sharing.
I like your writing style genuinely enjoying this site.
Thanks for a marvelous posting! I definitely enjoyed reading it, you can be a great author.I will make certain to bookmark your blog and will come back from now on. I want to encourage you to continue your great work, have a nice holiday weekend!
My brother suggested I might like this website. He was totally right. This post truly made my day. You can not believe simply how a lot time I had spent for this information! Thanks!
I like this web site so much, saved to my bookmarks.
Nice weblog here! Also your website lots up fast! What host are you the use of? Can I am getting your associate hyperlink for your host? I desire my web site loaded up as quickly as yours lol
What is ProNerve 6? ProNerve 6 is your complete arrangement made to address the multifaceted necessities of nerve wellbeing
What i do not realize is if truth be told how you’re no longer really much more smartly-preferred than you may be right now. You are so intelligent. You know thus significantly relating to this subject, produced me for my part believe it from a lot of various angles. Its like men and women are not involved until it is something to accomplish with Woman gaga! Your personal stuffs great. At all times care for it up!
Spot on with this write-up, I actually assume this web site wants far more consideration. I’ll in all probability be again to learn rather more, thanks for that info.
Hello! I could have sworn I’ve been to this blog before but after browsing through some of the post I realized it’s new to me. Anyways, I’m definitely happy I found it and I’ll be book-marking and checking back frequently!
Amazing! This blog looks exactly like my old one! It’s on a entirely different topic but it has pretty much the same page layout and design. Excellent choice of colors!
Needed to put you a little bit of word in order to give many thanks once again for these unique views you’ve shared in this article. It’s so open-handed with you giving unreservedly just what a few people could have made available for an electronic book to earn some dough for their own end, primarily since you might have tried it if you ever desired. The techniques as well worked to be a easy way to fully grasp that other people have similar desire just like my personal own to see a little more related to this issue. I believe there are numerous more fun occasions up front for folks who browse through your blog post.
Thank you for every other excellent post. Where else may just anyone get that kind of information in such an ideal approach of writing? I’ve a presentation next week, and I’m on the search for such information.
Simply a smiling visitant here to share the love (:, btw outstanding layout. “The price one pays for pursuing a profession, or calling, is an intimate knowledge of its ugly side.” by James Arthur Baldwin.
What is Gluco6? Gluco6 is a revolutionary dietary supplement designed to help individuals manage their blood sugar levels naturally.
Outstanding post however , I was wanting to know if you could write a litte more on this subject? I’d be very thankful if you could elaborate a little bit more. Cheers!
Hello there! Do you know if they make any plugins to protect against hackers? I’m kinda paranoid about losing everything I’ve worked hard on. Any suggestions?
Valuable information. Lucky me I discovered your website by chance, and I am shocked why this twist of fate didn’t took place earlier! I bookmarked it.
Good info. Lucky me I reach on your website by accident, I bookmarked it.
I’ve been absent for some time, but now I remember why I used to love this website. Thank you, I?¦ll try and check back more often. How frequently you update your web site?