Zenith Bank Plc has been named Nigeria’s best bank for the second successive year at the Global Finance Magazine’s Best Banks Awards 2021.
The bank was among other banks from 35 countries in Africa recognised as the prestigious US magazine announced its 28th annual best bank awards winners in Africa.
The editors of Global Finance made all selections after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts worldwide. Global Finance considered factors that ranged from the quantitative objective to the informed subjective in selecting these top banks. Objective criteria considered included growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.
Global Finance’s ‘Best Banks Awards’ are recognised among 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 and Eastern Europe, Latin America, the Middle East, North America and Western Europe.
Founded in 1987, Global Finance regularly selects the top performers among banks and other financial services providers, and the awards have become a trusted standard of excellence for the global financial community.
According to the magazine’s publisher and editorial director Joseph Giarraputo, “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.”
He added, “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, group MD/CEO of Zenith Bank 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 added that the award was made possible by the joint contributions of the bank’s key stakeholders – the group chairman Jim Ovia for his pioneering and foundational role in building the structures and laying the foundation for an enduring and very successful institution, the board for the deep insights and outstanding leadership they provide, the staff for their commitment, doggedness, creativity and very outstanding talents as well as the bank’s teeming customers for their continued support and loyalty.
Zenith Bank recently announced its result for the year ended December 31, 2020, with gross earnings rising by 5 per cent to N696.5 billion and profit before tax (PBT) growing 5 per cent to N255.9 billion.
