With Over N614 Billion Capital Base
OpenLife Nigeria reports that as the recapitalisation deadline, fixed for March 31, 2026 is just two weeks away, many banks, out of the 35 banks operating in the country, are said to have met the requirement.
The recapitalisation programme was announced in November 2023 and formalized in CBN directives published on March 28, 2024.
The recapitalisation requires each bank category to hold capital proportional to its operational scope.
International commercial banks, according to the directives, must raise their capital from N50 billion to N500 billion while national commercial banks must increase from N25 billion to N200 billion.
Regional commercial banks are expected to reach a minimum capital of N50 billion, up from N10 billion previously. For non-interest banks, the thresholds are set at N20 billion for national licenses and N10 billion for regional licenses.
Of this however, Zenith Bank, with strong capital base of over ₦614.65 billion, has significantly exceeded Central Bank of Nigeria’s ₦500 billion requirement for international license.
Coming at a time the Nigerian government has set a goal to achieve $1 trillion dollar economy by 2030, Zenith Bank, from all index, is set to play a leading role in the actualization of this federal government’s goal.
Already, Zenith Bank Plc, according to remarks by Nonye Ayeni, Chief Executive Officer of Nigerian Export Promotion Council, NEPC, is the highest contributor to Nigeria Export Proceeds, NXP, contributing 32.31% to the total number of NXPs.
Ayeni made this disclosure at the International Agricultural Show in Paris, France some weeks ago.
Notably, the non-oil export sector which is being largely financed by Zenith Bank is a key driver of federal government’s economic transformation in creating jobs, alleviating poverty and strengthening Nigeria’s position in the global trade.
As Zenith Bank leads this historic recapitalization turning point, policymakers and big players in the commercial and industrial sectors are optimistic that stronger banks will anchor financial stability, stimulate economic productivity and growth as well as expand access to credit for businesses including serving as pillars for government’s desire to achieve a $1 trillion economy.
Corporate Governance Records
In any financial systems, credibility is, in itself, a form of capital.
Therefore, given the importance of corporate governance framework as mirror for sustaining investors confidence, the story of Zenith Bank encapsulates a financial institution that is tailor- made to lend supports for economic growth.
The bank, according to records from regulatory agencies, maintains high corporate governance standards.
This is recognized by its listing on the Nigerian Exchange Limited (NGX), Premium Board and consistent “Best Corporate Governance Bank” awards from Proshare World Finance.
The board, led by Chairman Jim Ovia, includes a mix of independent and executive directors, led by Group Managing Director/Chief Executive Officer, Dr. Adaora Umeoji wherein they focus on strategic oversight, sustainability and transparency.
Regulatory Compliance
Listed on the Nigerian Exchange (NGX) and London Stock Exchange, Zenith Bank operates under a robust Board Charter and policy framework. It strictly adheres to Central Bank of Nigeria guidelines with oversight by a Board Risk Management Committee and other specialized committees.
Ethical Standards
The Bank is renowned for its commitment to sustainability, anti-money laundering regulations and strong corporate responsibility whereby regular board appraisals are conducted by external and independent consultants.
This has earned the bank numerous awards and recognitions including acknowledgement as the “Best Corporate Governance Bank, Nigeria” in the World Finance Corporate Governance Awards for four consecutive years from 2022 to 2025 and “Best in Corporate Governance Financial Services’ Africa” for four consecutive years from 2020 to 2023 by the Ethical Boardroom etc.
Assets Growth
The Bank’s total assets grew by 4% from N30 trillion in December 2024 to N31 trillion as at September 2025. This was largely supported by customer deposits, which rose by 8% to N23.7 trillion within the same period. Gross loans declined by 9% to N10 trillion as at September 2025, while Non-Performing Loan (NPL) ratio improved to 3% due to the write-off of non-performing loans.
Key Financial Highlights (9 Months Ended Sept 30, 2025)
• Gross Earnings: N3.37 trillion, an increase of 16.3% year-over-year.
• Profit Before Tax (PBT): N917.4 billion
• Profit After Tax (PAT): N764.2 billion
• Net Interest Income: N1.93 trillion, a significant increase of 50.4% year-over-year.
• Total Assets: N31.18 trillion.
• Customer Deposits: N23.69 trillion.
• Total Equity: N4.73 trillion, an increase of 17.4%.
• Loans & Advances: N9.37 trillion.
Recognitions And Awards
The Bank’s track record of excellent performance has continued to earn the brand numerous awards, including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the sixteenth consecutive year in the 2025 Top 1000 World Banks Ranking, published by The Banker and “Nigeria’s Best Bank” at the Euromoney Awards for Excellence 2025.
The Bank was also awarded Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020 to 2022, 2024 and 2025, in the Global Finance World’s Best Banks Awards; Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; and was listed in the World Finance Top 100 Global Companies in 2023.
Further recognitions include Best Commercial Bank, Nigeria for five consecutive years from 2021 to 2025 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in the International Banker 2023 and 2024 Banking Awards.
Additionally, the Bank’s commitment to excellence led to Zenith being also being named the Most Valuable Banking Brand in Nigeria in The Banker’s Top 500 Banking Brands for 2020 and 2021, Bank of the Year 2023 to 2025 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and 2024 to 2025.
The Bank also received the accolades of Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards, Bank of the Year 2024 by ThisDay Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics.
The Bank’s Hybrid Offer was also adjudged ‘Rights Issue/ Public Offer of the Year at the Nairametrics Capital Market Choice Awards 2025.
Zenith Bank has also bagged several non-financial awards including, Most Responsible Organisation in Africa, Best Company in Transparency and Reporting and Best Company in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024.
Founded in May 1990 by Dr. Jim Ovia, Zenith Bank Plc commenced operations in July of the same year as a commercial bank.
The Bank became a public limited company on June 17, 2004 and got listed on the Nigerian Stock Exchange, NSE, on October 21, 2004.
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