Zenith Bank retains position as number 1 Tier-1 bank in Nigeria
Zenith Bank Office

Zenith Bank Plc retained its position at the number one bank in Nigeria by Tier-1 capital in the 2021 Top 1,000 World Banks ranking published by the Banker Magazine.

The Group Managing Director/Chief Executive of the bank, Mr Ebenezer Onyeagwu, disclosed in a statement made available to iBrandTV on Wednesday in Lagos.

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Onyeagwu said for 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 dollars.

He said the bank emerged the 454th bank globally and the only Nigerian bank in the top 500.

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He explained that the ranking, which was published in the July edition of the Banker Magazine of Financial Times Group, United Kingdom, was based on the 2020 year-end Tier-1 capital of banks 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.

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“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.

According to Onyeagwu, Zenith Bank’s financial performance for the year was underpinned by an eight per cent growth in non-interest income.

It recorded an improved market share in both retail and corporate sectors, in spite of a very challenging macroeconomic environment, exacerbated by the COVID-19 pandemic.

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