Zenith Bank has been named the number one Bank in Nigeria by Tier-1 Capital in the 2020 Top 1000 World Banks Ranking published by The Banker Magazine.
The Bank was joined by Access Bank, GTB, UBA and First Bank as part of the top 25 banks in Africa.
Zenith Bank is ranked 386 climbing 29 spots from 415 in 2019 and consolidated its leading position with Tier-1 Capital of $2.79 billion, an increase of 16.1% on the $2.40 billion recorded in the 2019 rankings.
The ranking which was published in the July 2020 edition of The Banker Magazine of the Financial Times Group, United Kingdom, was based on the 2019 year-end Tier-1 capital of banks globally.
Zenith Bank’s financial performance for the year was underpinned by a 29% increase in non-interest income, with an improved market share in both retail and corporate sectors.
Speaking on the latest ranking, the Zenith Bank CEO, Mr. Ebenezer Onyeagwu said: “This ranking, which further attests to our market leadership, is the outcome of a well-thought-out strategy of always delighting and creating value for our teeming customers through a broad range of superior product offerings, best-in-class service, and top-of-the-range technology.”
Meanwhile, Access Bank (2nd) with Tier 1 Capital of $1.9 billion, Guaranty Trust Bank (3rd) with $1.76 billion, United Bank For Africa (4th), $1.23 billion, and First Bank (5th) $899 billion also made the list. These banks were ranked 508, 537, 674, and 786 respectively.
