Zenith voted as the best bank on Nigeria by Global Finance magazine for the fourth year running

ZENITH Bank has been voted as the Best Bank in Nigeria for the fourth year running by Global Finance magazine having been picked as the top player in the country despite facing challenges due to the harsh economic environment.

Over the weekend, the editors of Global Finance magazine made the selection after extensive consultations with corporate financial executives, bankers, banking consultants and analysts. Factors considered in selecting the top banks ranged from the quantitative objective to the informed subjective.

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.

Dr Ebenezer Onyeagwu, the outgoing Zenith Bank chief executive, said: “This award serves as a powerful affirmation of our resilience and tenacity despite headwinds and a very challenging macroeconomic environment. Indeed, it is a testament to our status as the leading financial institution in Nigeria, dedicated unwaveringly to delivering exceptional value to our stakeholders.”

He expressed profound gratitude to the bank's founder and chairman, Jim Ovia, for his exceptional vision and foundational role in establishing a resilient and enduring financial institution. Dr Onyeagwu also lauded the board of directors for their astute insights and exemplary leadership, the staff for their steadfast commitment and unwavering dedication, as well as the bank's customers for their staunch loyalty to the Zenith brand.

Joseph Giarraputo, the published and editorial director of Global Finance, said: “Banking has reached another watershed moment with the debut of generative artificial intelligence, which promises to rewrite the industry playbook. In this ever-changing environment, the Best Bank Awards recognise the financial institutions that offer the broadest range of services, long-term reliability and technological innovation.”

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, Asia-Pacific, the Caribbean, Central America, Central & 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.