NLNG, Zenith Bank, Leadway, STI, Guinea Insurance, NCRIB, IEI, Stanbic IBTC Insurance, Others Drum Support For SUPERNEWS AI Confab'25 - ITREALMS

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Bluechip companies and reputable organisations from various sectors have signed up support for the hosting of SUPERNEWS Artificial Intelligence Confab'25 holding at Oriental Hotel, Victoria Island Lagos on Thursday June 19th 2025 starting at 10 am.

The organisations include the Nigeria Liquefied Natural Gas (NLNG), Zenith Bank Plc., Leadway Assurance company Limited, Sovereign Trust Insurance Plc, Guinea Insurance Plc., Nigerian Council of Registered Insurance Brokers (NCRIB), International Energy Insurance Plc. (IEI), Ugooafunwa Investment Company Ltd, Zonaish Global Resources, Dontex Ventures Nigeria, Big Gate Africa.

Zenith Bank and managing Dr Umeoji's PR by Chido Nwakanma - ITREALMS

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Congratulations to the new MD of Zenith Bank. Congratulations to Zenith Bank on appointing a tried and tested professional from within to head the bank.

The presentation of the new boss has suffered headwinds. 

Orogbu congratulates Adaora over GMD/CEO appointment @Zenith Bank - ITREALMS

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The member representing Awka North and South Federal Constituency at the green chambers, Prof. Oby Lilian Orogbu, aka Ada Dị Ebube, has applauded the appointment of her follow Anambrarian, Dame Dr. Adaora Umeoji as the incoming Group Managing Director/Chief Executive Officer at Zenith Bank plc, reports ITREALMS.

Orogbu in a personally endorsed congratulatory message available to ITREALMS, said she was thrilled to extend her heartfelt congratulations to Adaora on her recent appointment as the Group Managing Director and Chief Executive Officer of Zenith Bank Plc.

Zenith Bank excites shareholders with N87.9bn dividend payout - ITREALMS

ITREALMS: 

The shareholders of Zenith Bank Plc were excited during the 29th Annual General Meeting of the Bank held Monday, at the Shehu Musa Yaradua Centre, Abuja as they unanimously approved the proposed final dividend of N2.50 per share, bringing the total dividend payment for the 2019 financial year to N2.80 per share with a total value of N87.9 billion, reports ITREALMS.

This followed the recent release of the Bank’s audited financial results for the 2019 financial year.

According to the audited financial results for the 2019 financial year, Zenith Bank recorded a profit after tax (PAT) of N208.8 billion, an increase of 8% from the N193 billion recorded in the previous year, thus achieving the feat as the first Nigerian Bank to cross the N200 billion mark.

The Group also recorded a growth in gross earnings of 5% rising to N662.3 billion from N630.3 billion reported in the previous year. This growth was driven by the 29% increase in non-interest income from N179.9 billion in 2018 to N231.1 billion in 2019. Fees on electronic products continue to grow significantly with a 108% Year on Year (Y-o-Y) growth from N20.4 billion in 2018 to N42.5 billion in the current year. This is a validation of the bank’s retail transformation strategy which continues to deliver impressive results.

Profit before tax also increased by 5% growing from N232 billion to N243 billion in the current year, arising from topline growth and continued focus on cost optimisation strategies. Cost-to-income ratio moderated from 49.3% to 48.8%.

The drive for cheaper retail deposits coupled with the low-interest yield environment helped reduce the cost of funding from 3.1% to 3.0%. However, this also affected net interest margin, which reduced from 8.9% to 8.2% in the current year due to re-pricing of interest-bearing assets. Although returns on equity and assets held steady YoY at 23.8% and 3.4% respectively, the Group still delivered an improved Earnings per Share (EPS) which grew 8% from N6.15 to N6.65 in the current year.

The Group increased its share of the market as it secured increased customer deposits across the corporate and retail space as deposits grew by 15% to close at N4.26 trillion. Total assets also increased by 7% from N5.96 trillion to N6.35 trillion. The Group created new viable risk assets as gross loans grew by 22% from N2.016 trillion to N2.462 trillion. This was executed prudently at a low cost of risk of 1.1% and a significant reduction in the non-performing loan ratio from 4.98% to 4.30%. Prudential ratios such as liquidity and capital adequacy ratios also remained above regulatory thresholds at 57.3% and 22.0% respectively.

In recognition of its track record of excellent performance, Zenith Bank was voted as the Best Commercial Bank in Nigeria 2019 by the World Finance and the Best Digital Bank in Nigeria 2019 by Agusto & Co. The Bank was also recognised as Bank of the Year and Best Bank in Retail Banking at the 2019 BusinessDay Banks and Other Financial Institutions (BOFI) Awards. Most recently, the Bank emerged as the Most Valuable Banking Brand in Nigeria, for the third consecutive year, in the recently released Banker Magazine “Top 500 Banking Brands 2020”, the Best Bank in Nigeria 2020 in the Global Finance World’s Best Banks Awards 2020, and the Bank of the Decade (People’s Choice) at the Thisday Awards 2020.

Nenye Dom/Editor

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Zenith Bank commences N50.00 stamp duty charge - ITREALMS

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Zenith Bank Plc has commenced the implementation of N50.00 only stamp duty charge on eligible transactions, reports ITREALMS.

According to a public statement sent to Zenith customers and available to ITREALMS, the bank now charges N50.00 per transaction.

This, ITREALMS gathered, applies to all transfers and deposits of N1,000 and above received into eligible accounts.

The management of Zenith also says that “savings account and intra-account transfers are excluded.”

In addition, the bank said, that the aggregated amount of stamp duty charges deducted from eligible transactions weekly will be debited every Friday into the customers’ accounts and notifications sent accordingly.

Chuks Egbune/DoP

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Zenith Bank shareholders approve total payout of N63.4b dividend

ITRealms:

The shareholders of Zenith Bank Plc have approved final dividend worth N55.573 billion for the year ended December 31, 2016, which brings the total payout to N63.422 billion, reports ITRealms.

The dividend, ITRealms gathered, translates to N1.77 per share, was paid out of N129.65 billion recorded for the year under review.

Giving the approval at the Annual General Meeting held in Lagos on Wednesday, shareholders noted that in all, the bank paid a total dividend of N63.422 billion, having paid an interim dividend of N7.849 billion before now.

Also, the shareholders applauded the board, management and staff for growing its profit after tax by 23 per cent from N105.531 billion in 2015 to N129.65 billion in 2016. Just as the bank ended the year with gross total assets N4.739 trillion, up from N4 trillion in 2015.

The Chairman of the Zenith Bank Plc, Chief Jim Ovia, said despite the challenging operating environment, the bank was able to fully exploit the available opportunities to post the impressive results.

He pointed out that in line with the bank’s commitment to delivering superior returns to its much-valued shareholders, the bank made certain that a good chunk of the profit is set aside for them.

“In this regard, we have declared and paid you an interim dividend of 25 kobo per share in the course of 2016 financial year. We hereby propose a final dividend of 177 kobo per share. This brings the total dividend for the year ended December 31, 2016 to 202 kobo per share as against 180 kobo per share paid he previous year,” he said.

Ovia also said, that even in the face of a very challenging operating environment, Zenith Bank has maintained its culture of outstanding performance and industry leadership.

As a bank, Ovia emphasized, Zenith is monitoring developments both in the local and global economy and applying pragmatism and dynamism as appropriate.

“Our strategy and approach to the pursuit of financial inclusion and sustainability gives us a lot of competitive advantage to explore even new frontiers in the market,” he said.

Equally speaking, the Group Managing Director and Chief Executive Officer of Zenith Bank, Mr. Peter Amangbo, said as an institution of well-primed people, the bank relied on a its pool of exceptional staff to make sound and timely decision and addressed issues in a manner that anticipated developments and demonstrated excellent understanding of the dynamics of the market and economy in 2016.

“We shall continue to demonstrate extraordinary commitment to our customer s while maintaining focus on all the areas fundamental to adding value to our partnership,” he said, even as he looks ahead with optimism, though noting that 2017 will come with its challenges and opportunities.

“… But I am confident that our determination, resolve and rare commitment to customer as well as our adaptive ability will ensure resounding results” Amangbo said.

Chuks Egbune/GEE

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PhotoNews @Zenith Bank sponsored Delta State Principals Cup’17

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Zenith Bank reiterates commitment to sport development

ITRealms:

The Zenith Bank Plc has reiterated pledge to the development of sport in Nigeria, promising to invest more in unearthing young talents in the country, reports ITRealms.

Deputy Managing Director, Zenith Bank, Mr. Ebenezer Onyeagwu, gave this commitment as the Delta State Principals Cup sponsored by the bank got underway in Asaba, said that as the headline sponsor of the national Women Basketball League, having bankrolled it for 12 years.

He noted that the bank recently launched an under-13 football tournament in partnership with the Nigerian Football Federation (NFF) aimed at catching young talents.

Onyeagwu, who was in Asaba at the weekend for the formal opening ceremony of the maiden Delta State Principals, also said the gesture was to fulfill the bank's corporate social responsibility, adding that the bank has a bias for youth development.

As sais by him, Zenith Bank’s passion for youth empowerment programmes has seen it intervene in areas like ICT, and sports development, adding that in the last twelve years the bank has “singlehandedly sponsored and supported female basketball league nationally”.

Further, he said the bank sponsorship of Delta Principal Cup was a move to recapture the competition’s lost glory, adding that the Principal’s Cup in the 70’s and 80’s was the epitome of sports development.

“For Zenith Bank Principals’ Cup sponsorship, we looked at it and felt that it is time for us to take bring back its lost glory. In those glorious days of the 70’s and 80’s Principal Cup was the epitome of sports development. We felt that by us developing and partnering with Delta State to refresh, rejuvenate and revitalize sports development we will provide the opportunity for talents to be developed, nurtured, and it is an opportunity for us to make it a lot more expansive, make it all inclusive, complement the State’s efforts in terms social development and also create a basis for standardization in the school’s curriculum,” Onyeagwu said.

He stressed that the competition would unearth sporting talents “that can be nurtured and encouraged to reach its fullest potentials of sporting excellence”, saying “the Sunday Olisehs, Stephen Keshis and so many other talents abound in the State.”

The sole essence for the bank, he said, is to help Delta State and individual proprietors of private schools to see how to bring back sports development to where it was in the golden era of yester years.

He said the bank’s sponsorship was for the long term, stressing that Zenith Bank’s values of fairness, professionalism will guarantee future involvement.

His words: "Everything we do we do with all our hearts, with a whole lot of commitment. Asking that if we are in the long haul is akin to asking are we doing touch-and-go? It is not a case of touch-and-go.

"We are going to be in the long haul. What we crave for is for fairness, professionalism, we will not encourage hooliganism, mercenaries for as long as it is developed, nurtured professionally be sure that this partnership will be for the long haul," he stated.

Delta Commissioner for Secondary and Basic Education, Chiedu Ebie stressed the importance of academic prowess in the development of a child, but noted that sports and extra-curricular activities also play important roles in the development of a child.

He said one of the aims of the Principal’s Cup was to help improve schools sports in Delta State, especially in public schools.

"We all know the importance of sports in education and in the development of the child and so as much as we will like to ensure that academic prowess is given its rightful position, sports and extracurricular activities play very important role in the development of a child. One of the things we set out to achieve was to see how we can improve school sports in Delta State, especially in public schools” he said.

Managing Director, Hideapluxx , Tony  Oritse-Pemu , said he was motivated to provide a platform to showcase their talents , in a bid to  help youths channel their talents from social vices into productive ends.

He said the Zenith Bank Principal’s Cup is a junior tier football championship for all public/private schools, adding that it is a project to revive football at secondary school level.

Pemu said the competition was created to “create a long career presence for youths in their football life ,squeeze down societal vices and homeland crimes which is often inspired by high idle time and very importantly it is designed as a means of encouraging academic excellence”.

In an exciting football match heralding the competition, Okwe Basic Secondary School, Okwe pipped Zappa Mixed Secondary School, Asabal 1-0.

The goal was scored in the 52nd minute by captain of the side Chibuike Obiora, following a swift counter attacking move.

Despite the best efforts of the Zappa team they could not turn the tide.

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