For the thirteenth year in a row, Zenith Bank was ranked as Nigeria's finest bank

For the thirteenth year in a row, Zenith Bank was ranked as Nigeria's finest bank
According to Tier-1 Capital's ranking in The Banker Magazine's 2022 Top 1000 World Banks Ranking, Zenith Bank Plc is the best bank in Nigeria.

With a Tier-1 Capital of $2.75 billion, the Bank maintained its position as the top Tier-1 bank in Nigeria for the thirteenth year in a row, moving up to the 460th Bank internationally.

The ranking, which appeared in the July 2022 issue of The Banker Magazine published by the Financial Times Group in the UK, was based on the global Tier-1 capital of banks as of the end of the 2021 fiscal year. Despite a very difficult macroeconomic environment made worse by the COVID-19 epidemic, Zenith Bank's financial performance for the year was supported by double-digit increase of 10% in gross earnings and an improved market share in both the retail and corporate sectors.

The Group Managing Director/CEO of Zenith Bank Plc, Mr. Ebenezer Onyeagwu, commented on the 2022 Top 1000 World Banks Ranking, saying: “This ranking is a testament to our resilience and doggedness as an institution despite economic headwinds and a persistent challenging macroeconomic environment. Indeed, being ranked as the Number One Bank in Nigeria by Tier-1 Capital for the thirteenth year in a row underscores our commitment to sustaining the superior performance we are renowned for and creating value for our highly esteemed customers.”

He expressed his gratitude to Jim Ovia, the founder and chairman of Zenith Bank Plc, for providing leadership, laying the groundwork for the institution, and creating its structures, as well as to the board for their outstanding leadership, the staff, whose passion and dedication support the bank's exceptional performance, and the company's customers for their unwavering devotion to the Zenith brand.

According to regulators, the primary indicator of a bank's financial soundness is capital sufficiency, which is described by Tier 1 Capital. The ranking states that Tier 1 Capital includes loss-absorbing capital, such as common stock, reported reserves, retained earnings, and minority holdings in the equity of subsidiaries that are not entirely owned, as defined by the most recent Bank for International Settlements (BIS) criteria.

This most recent distinction follows a number of others that Zenith Bank has received for its stellar performance, including recognition as the Best Bank in Nigeria for three consecutive years from 2020 to 2022 at the Global Finance Awards. World's Best Banks Awards; Best Commercial Bank, Nigeria in the World Finance Banking Awards for 2021 and 2022; Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards for 2022; Best in Corporate Governance "Financial Services" Africa for three years in a row 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 (Nigeria) in The Banker’s Bank of the Year Awards 2020.

Additionally, the Bank won the Retail Bank of the Year award at the BusinessDay Banks and Other Financial Institutions (BOFI) Awards 2020 and 2021 and was named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021.

The Sustainability, Enterprise, and Responsibility (SERAS) Awards 2021 saw Zenith Bank win in four categories, including "Best Company in Reporting and Transparency," "Best Company in Infrastructure Development," "Best Company in Gender Equality and Women Empowerment," and the coveted title of "Most Responsible Organization in Africa." Zenith Bank was also recognised as Bank of the Decade (People's Choice) at the ThisDay Awards 2020.
Chima Ugo is a patriotic Nigerian, a journalist, blogger and singer who is so much interested in the internet, journalism, and blogging and have been for half a decade.