Caption: Dame Adaora Umeoji
For the 16th consecutive year, The Banker, Financial Times Group, United Kingdom publication, has ranked Nigeria’s Zenith Bank Plc as number one in the country by Tier-1 Capital.
According to The Banker’s 2025 Top 1000 World Banks’ Rankings published in the July 2025 edition, Zenith Bank Plc occupied the 581st position globally, with a Tier-1 Capital of $2bn, based on its 2024 year-end financials.
Tier-1 Capital is the primary basis for assessing banks by most international organizations, and describes capital adequacy, the core measure of a bank’s financial strength from a regulator’s perspective.
According to The Banker, Tier-1 Capital, as defined by the Bank for International Settlements (BIS) guidelines, includes loss-absorbing capital, that is, common stock, disclosed reserves, retained earnings, and minority interests in the equity of subsidiaries that are less than wholly owned. A strong Tier-1 capital ratio is a boost to investor and depositor confidence, indicating that a bank is well-capitalised and financially stable.
Reacting to the report, Group Managing Director/CEO of Zenith Bank Plc, Dr. Adaora Umeoji, expressed excitement at retaining the “position yet again as the Number One Bank in Nigeria by Tier-1 capital for the 16th consecutive year. This achievement is a reflection of the bank’s robust financial performance, prudent risk management and steadfast dedication to delivering exceptional value to our customers and stakeholders”.
She appreciated the bank’s founder and Chairman, Jim Ovia, for his visionary and transformative leadership which has played a pivotal role in cultivating a resilient and thriving institution. She also expressed her deepest appreciation to the bank’s esteemed customers for their continued loyalty to the Zenith brand, the Board for the sound corporate governance, and the staff for their relentless & tireless efforts in ensuring the bank’s success.
According to its audited results for the 2024 financial year presented to the Nigerian Exchange (NGX), Zenith Bank grew gross earnings by 86% from N2.13tr in 2023 to N3.97tr in 2024, driven by a 138% rise in interest income, supported by investment in high-yield government securities, and growth in its loan book. Profit before tax (PBT) was up by 67%, reaching N1.3tr in 2024 from N796bn in 2023. This performance saw the bank record an unprecedented total dividend payout of N195.67bn at N5.00 per ordinary share in the 2024 financial year.
