Zenith Bank Plc was recognised as the Best Nigerian Bank by the Global Finance Magazine’s Best Banks Awards 2021. This would be the second consecutive year the Jim Ovia owned financial institution is achieving the feat. The bank was among other banks from 35 countries in Africa recognised by the prestigious US magazine in their 28th Annual Best Bank Awards. The editors of Global Finance made their selections after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts worldwide.
According to the magazine, many factors informed their selection, and they include:
- Objective criteria which considered growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products.
- Subjective criteria which considered opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.
Global Finance’s “Best Banks Awards” are recognised amongst the world’s most influential banking/finance and corporate professionals as the most coveted and credible awards in the banking industry, with winners chosen in 150 countries and territories across Africa, AsiaPacific, the Caribbean, Central America, Central & Eastern Europe, Latin America, the Middle East, North America and Western Europe.
Joseph D. Giarraputo, publisher and editorial director of Global Finance Magazine reported that “this year’s evaluations are more important and valuable than at any point in their 28-year history, given the unprecedented economic conditions wrought by the global pandemic.” In his words, “Banks are playing a key role in economic recovery around the world, and as such, our Best Bank awards highlight the leaders in restoring growth and mapping a way forward.”
Commenting on the recognition, the Group Managing Director/Chief Executive of Zenith Bank, Mr, Ebenezer Onyeagwu said: “This award is a strong indication of our resilience despite a very excruciating macroeconomic environment exacerbated by the COVID 19 pandemic”. He also extoled the contribution of the Bank’s Stakeholders and Group Chairman- Jim Ovia for their part in landing the award.
To add to a host of many other awards, Zenith Bank recently announced an impressive result for the year ended December 31, 2020, with gross earnings rising by 5% to N696.5 billion and profit before tax (PBT) growing 5% to N255.9 billion.