Zenith Bank Retains Nigeria’s No. 1 Spot as it Eyes Kenyan Expansion

• Zenith Bank has emerged as the number one bank in Nigeria by tier-1 capital for the 16th consecutive year
• This is according to a new ranking released by The Banker, a Financial Times company, which publishes the top 1000 banks in the world
• The global rankings were published in The Banker’s July edition, and show Zenith Bank occupying the 581st position globally

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

Zenith Bank remains Nigeria’s number one bank by tier-1 capital for the sixteenth year in a row in the 2025 Top 1000 World Bank’s ranking, produced by The Banker, Financial Times Group, a London-based company.

The ranking places the Nigerian bank as the 581st bank in the world, with a tier-1 capital of $2 billion.

How did Zenith Bank become Nigeria’s No.1 bank?

The global rankings, which were published in the July edition of the magazine, were based on the 2024 year-end tier-1 capital of banks.

The tier-1 capital of the banks is the basis for most of the international organisations' assessment of banks.

Adaora Umeoji, Zenith Bank’s managing director and CEO, expressed excitement that the bank retained its position again as the number one bank in Nigeria by tier-1 capital for the 16th year.

According to her, the achievement shows the bank’s robust financial performance, judicious risk management, and steady dedication to delivering exceptional value to its customers.

The CEO also thanked Zenith Bank Chairman, Jim Ovia and the bank’s staff for their loyalty and support.

What is tier-1 capital?

According to reports, tier-1 capital adequacy is the core measure of a bank’s financial strength from a regulator’s perspective.

Market Forces Africa reported that Zenith Bank’s audited report for the 2024 financial year saw the bank recording a double-digit growth of 86% in gross earnings, up from N2.13 trillion in 2023 to N3.97 trillion in 2024.

The growth was due to a 138% increase in interest income, supported by investment in high-yield government securities, and growth in the bank’s loan book.

Reports say Zenith Bank’s pre-tax profit increased 67%, hitting N1.3 trillion in 2024, from N796 billion in the year before.

Zenith meets CBN’s N500bn capital requirement

The performance saw Zenith Bank record an impressive total dividend payout of N195.67 billion at N5.00 per ordinary share in the 2024 financial year.

A prior report by Legit.ng disclosed that Zenith Bank and Access Bank are the only two Nigerian banks that have met the N500 billion capital requirement set by the Central Bank of Nigeria (CBN).

The latest award by Zenith Bank indicates a stronger investor confidence in the Nigerian lender as the recapitalisation deadline set by the CBN approaches.

Zenith Bank to acquire Kenyan bank

Legit.ng reported that Nigeria’s Zenith Bank is about to enter the Kenyan market, with talks reportedly underway to acquire a tier-2 bank.

The move, if consummated, will mark Zenith Bank’s first foray into the growing Kenyan market and outside West Africa, and will deepen Nigerian banks’ presence in Kenya.

According to reports, top officials from Zenith Bank are expected in the Kenyan capital, Nairobi, in three months to ramp up negotiations.

Source: Legit.ng