Zenith Bank Plc has once again been ranked as the number one bank in Nigeria by Tier-1 capital, according to the 2023 Top 1000 World Banks’ Rankings published by The Banker Magazine.
This is the 14th consecutive year that Zenith Bank has held this position.
The rankings are based on the 2022 year-end Tier-1 capital of banks globally. Tier-1 capital is a core measure of a bank’s financial strength, and it includes loss-absorbing capital, such as common stock, disclosed reserves, retained earnings, and minority interests in the equity of subsidiaries that are less than wholly owned.
Zenith Bank’s Tier-1 capital of $2.54 billion puts it at 467th in the world rankings. This is a significant achievement, given the challenging macroeconomic environment and global headwinds that the bank has faced in recent years.
The bank’s CEO, Dr Ebenezer Onyeagwu, said that the ranking is a testament to Zenith Bank’s resilience and commitment to value creation for its customers. He also thanked the bank’s founder, Jim Ovia, for his foundational role in building the institution, as well as the board, staff, and customers for their support.
Zenith Bank has a long history of success. In addition to being ranked as the number one bank in Nigeria by Tier-1 capital, the bank has also won numerous awards, including:
- 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 four consecutive years from 2020 to 2023, by the Ethical Boardroom
- Most Sustainable Bank, Nigeria in the International Banker 2023 Banking Awards
- Best Commercial Bank, Nigeria and Best Innovation In Retail Banking, Nigeria in the International Banker 2022 Banking Awards
- Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021
- Retail Bank of the year, for three consecutive years from 2020 to 2022, at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards
Zenith Bank’s track record of excellence is a testament to its strong financial performance and commitment to providing excellent customer service. The bank is well-positioned for continued success in the years to come.
