Zenith Bank Plc was established in May 1990, and commenced operations in July of the same year as a commercial bank. The Bank became a public limited liability company on June 17, 2004 and was listed on the Nigerian Stock Exchange (NSE) on October 21, 2004 following a highly successful Initial Public Offering (IPO). Zenith Bank Plc currently has a shareholder base of more than half a million and is Nigeria’s biggest bank by tier-1 capital. In 2013, the Bank listed $850 million worth of its shares at $6.80 each on the London Stock Exchange (LSE).
Headquartered in Lagos, Nigeria, Zenith Bank Plc has over 500 branches and business offices in prime commercial centres in all states of the federation and the Federal Capital Territory (FCT). In March 2007, Zenith Bank was licensed by the Financial Services Authority (FSA) of the United Kingdom to establish Zenith Bank (UK) Limited as the United Kingdom subsidiary of Zenith Bank Plc.
Zenith Bank also has Diaspora subsidiaries: Zenith Bank (Ghana) Limited, Zenith Bank (Sierra Leone) Limited, Zenith Bank (Gambia) Limited. The bank also has representative office in The People’s Republic of China. The Bank plans to take the Zenith brand to other African countries as well as the European and Asian markets.
Zenith Bank Plc blazed the trail in digital banking in Nigeria; scoring several firsts in the deployment of Information and Communication Technology (ICT) infrastructure to create innovative products that meet the needs of its teeming customers.
The bank is verifiably a leader in the deployment of various channels of banking technology, and the Zenith brand has become synonymous with the deployment of state-of-the-art technologies in banking. Driven by a culture of excellence and strict adherence to global best practices, the Bank has combined vision, skillful banking expertise, and cutting-edge technology to create products and services that anticipate and meet customers’ expectations; enable businesses to thrive and grow wealth for customers.
Zenith Bank Plc, founded by Jim Ovia in 1990, has since grown astronomically to become one of the leading financial institutions in Africa. Zenith Bank Plc currently ranks as the 6th biggest bank in the continent. The Bank grew its shareholder’s fund of ₦20million in 1990 to ₦704.50billion as at year end 2016. Today, the Bank continues to thrive on the strong values, brand equity, corporate culture of professionalism and service excellence which are the foundations upon which the bank was built.
Zenith Diaspora Banking is designed to enable Nigerians in diaspora take advantage of investment opportunities back home and perform financial transactions safely and conveniently from anywhere in the world.
It has introduced financial products and services tailor-made to meet specific needs of customers and non-customers in the Diaspora. These include the CBN Naira for Dollar Scheme, Home Remittance, Mortgage Banking Services, Advisory Services, and Medical Vouchers (Z-med).
The CBN Naira 4 Dollar Scheme enables a receiver of foreign currency transfers from abroad, through Central Bank of Nigeria (CBN) licensed International Money Transfer Operators (IMTOs) earn ₦5.00 on every US Dollar each time her receives. The CBN Naira 4 Dollar Scheme applies to all remittance inflows.
Zenith’s Mortgage Banking Services takes the stress off the users by availing them access to the bank’s diaspora mortgage loan and connecting them with estate agents and developers directly.
At Zenith Bank, exceptional advice is an enduring process. That is why over many years, the bank has enhanced and structured its offerings to reflect the bank’s clients’ needs.
The outcome is a unique advisory process that enables clients: view access to stock trading on the NSE/Capital Market; invest in money market instruments; invest in mutual funds; amongst other services.
Zenith Bank’s Medical Vouchers (Z-Med), gives vouchers (priced-to-service vouchers) which provide family members with access to Hospitals in Nigeria especially in cases of emergencies.
It is in recognition of Zenith Bank’s strong presence and the world standard services it provides through its diaspora subsidiaries and offices that the Top10 magazine has considered it worthy of being awarded the Diaspora Banking leader of the Year.