By Nkiruka Nnorom
Zenith Bank Plc has emerged as the Best Bank in Nigeria in the Global Finance Magazine’s Best Banks Awards 2022, retaining the award for a third consecutive year.
The bank was among other banks from 36 countries in Africa recognised as the prestigious Global Finance announced its 29th Annual Best Bank Awards winners.
The editors of Global Finance made the 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 the 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.
Commenting on the award, the Group Managing Director/Chief Executive, Zenith Bank, Mr Ebenezer Onyeagwu, said: “This award is a testament to our tenacity despite a very challenging macroeconomic environment. Indeed, being recognised, for the third consecutive year, is an acknowledgement of the resilience of the Zenith brand as the leading financial institution in Nigeria.”
He lauded the contributions and efforts of the bank’s key stakeholders – the Founder and Chairman, Jim Ovia, for his pioneering role in building the structures and laying the foundation for an enduring and successful institution, the Board for the outstanding leadership they provide, the staff for their commitment and dedication as well as the bank’s customers for their unwavering loyalty and support.
Joseph D. Giarraputo, publisher and editorial director of Global Finance, said: “With the financial world in a state of turmoil from Russia’s invasion of Ukraine, corporate leaders face a new set of challenges concerning the choice of their banking relationships.
“Following on the enormous difficulties wrought by the pandemic, these changes demand increased attention to global commercial relationships. Our awards support decision-makers in selecting the best financial partners.”