Latest news with #ZenithBank
Zawya
08-05-2025
- Business
- Zawya
Nigeria: Bulls persist at NGX as investors gain $250mln
The local bourse sustained its winning streak, bringing the benchmark index up 0.45 per cent to settle at 108,849.83 basis points. Basically, at the Nigerian Exchange on Wednesday, gains in Guaranty Trust Holding Company, Zenith Bank, and Honeywell Flour Mills kept the market in the green, having appreciated in values by 3.85 per cent, 2.08 percent, and 9.81 per cent, respectively. Consequently, the year-to-date (YTD) return of the All Share Index (ASI) rose to 5.76 per cent. Market capitalization followed suit, also rising by 0.59 percent to N68.51 trillion, translating to a gain of approximately N403 billion in investors' breadth remained positive, as 48 stocks advanced while 17 declined. On the performance board, top gainers included Meyer, UPDC Real Estate Investment Trust, Beta Glass, The Initiates, and Vitafoam after their respective share prices appreciated by 10.00 percent, 10.00 percent, 9.98 percent, 9.95 percent, and 9.94 per cent. Conversely, the top decliners were Deep Capital Management and Trust, Veritas Kapital Assurance, Linkage Assurance, African Prudential, and UACN Property Development Company. They recorded depreciation in share values by 10.00 percent, 9.09 percent, 6.61 percent, 5.60 percent, and 4.46 per cent. Sectoral performance was mixed. The Banking, Consumer Goods, and Industrial Goods indices recorded gains of 2.12 percent, 2.11 percent, and 0.15 percent, respectively. In contrast, the Insurance, Oil & Gas, and Commodities sectors declined by 0.15 per cent, 0.18 per cent, and 0.25 per cent. Analysis of today's market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 32.25 per cent.A total of 587.47 million shares valued at N18.66 billion were exchanged in 17,496 deals. Guaranty Trust Holding Company led both the volume and value charts with 98.64 million units traded in deals worth N6.57 billion. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Zawya
30-04-2025
- Business
- Zawya
Nigeria: Zenith Bank assures shareholders of quantum leap in future dividends
Shareholders of Zenith Bank Plc, at the 34th Annual General Meeting (AGM) held at the Civic Centre, Victoria Island, Lagos, on Tuesday, April 29, 2025, approved the proposed final dividend payment of NGN4.00 per share, bringing the total dividend for the 2024 financial year to NGN5.00 per share, with a total value of NGN195.67 billion. The Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, thanked the shareholders for their unflinching support and commitment, which have been responsible for the bank's stellar performance over the years. He noted that despite challenges globally in 2024, Zenith Bank was able to leverage the opportunities within the environment of each subsidiary to record a performance that solidly attests to the bank's resilience as a brand. The Group Managing Director/Chief Executive Officer, Dame Dr. Adaora Umeoji, OON, expressed her appreciation to the shareholders for their commitment and support, promising quantum leap in dividends going forward. According to her, 'This is the first time that I am addressing the Annual General Meeting (AGM) in my capacity as the first female GMD/CEO of Zenith Bank. I would like to thank you for your confidence and support that has placed me in this position today'. She further said that 'Zenith Bank is committed to, not only meeting your expectations, but exceeding them. We are focused on running a very efficient and sustainable institution that is resilient and will ensure that our institution outlives many generations to come'. Talking specifically about dividend, she emphasized that 'If you look at our dividends trajectory, payments over the period have always increased and we will continue to maintain this record. We have successfully completed our recapitalization exercise, achieving 160% subscription. Therefore, we are not under any pressure to go back for the second time to raise funds. Zenith Bank has sufficient capital buffer to do business and we will continue to delight our shareholders. We are committed to growing our topline organically while adhering to our strict corporate governance culture.' Dr. Faruk Umar, President of the Association of the Rights of Nigerian Shareholders (AARNS), applauded the Group Managing Director for her efforts in ensuring the growth of the bank's financial indices. He said, 'We are very happy that the bank is paying us N5. Most importantly the GMD/CEO, Dame Dr. Adaora Umeoji, has done so well. In the past year, she won the award for the Banker of the Year which is very commendable, and all the bank's indices have gone up; we are now experiencing trillions in profit against N676 billion the previous year, and the shareholder's funds, the gross earnings – everything now is in trillions. I think this is very commendable. The bank has won so many awards – no bank in Nigeria has won such qualitative awards like they have. They also surpassed the capitalization threshold of CBN by 160% – this is unprecedented. We are very happy with their performance.' Speaking on the dividend payout, Alhaji Otunba Mukhtar Mukhtar, Chairman, Trusted Shareholders Association of Nigeria, said 'The consistency of Zenith Bank dividend payout has never been matched in Nigeria. Since the inception of this bank, they have kept giving shareholders a consistent dividend payout, and this has made shareholders to be richer, happier, and more excited at the hardwork, performance and commitment of the bank. We are very happy. If you look at the Profit Before Tax (PBT) and the Profit After Tax (PAT), they have been able to cross the N1 trillion threshold. They have given us a Profit Before Tax of N1.3 trillion, which is very commendable. The shareholders, as you have seen at the meeting, have expressed their happiness and joy about this performance. I am grateful to the Chairman, Dr. Jim Ovia, CFR, the Management and the Board for such an outstanding performance.' Ambassador Dr. Olatunde Okelana, the Balogun Olugbon of Orile- Igbon, Oyo State, also commented on the bank's dividend payout. In his words, 'Zenith Bank investment has been the best for me. I want to believe that whoever has not invested in Zenith Bank has lost. Their dividend policy is very palatable, very beautiful in the banking industry and the lady at the helm of affairs is performing wonderfully well. She is one of the best female CEOs in the banking Industry in Nigeria. I am a capitalist, so I invest where my money can give me beautiful returns. I want to tell you that Zenith Bank has been the best in the capital market and it is the best investment. Dr. Jim Ovia, CFR, the Founder & Chairman, is a benefit to mankind, he has done the best by giving us Zenith Bank. 99.9% of my savings is in Zenith Bank, because I have confidence in them and in the Management led by Dame Dr. Adaora. I want to encourage many Nigerians to invest in Zenith Bank so that they too can reap the fruit of their labor as soon as possible. I am very happy to be a shareholder of this bank. Chief Timothy Adesiyan, President of the Shareholders Solidarity Association of Nigeria, praised the Chairman and Management of Zenith Bank for their consistent delivery of value to shareholders. He noted, 'The dividend we received this year of N5 has been a promise which they have given to us at several forums which they have called at different times, and we thank them for not failing us in their promise. I am very proud to be a shareholder of Zenith Bank, and also their customer. The bank is a very reliable bank – if you keep your investments in Zenith Bank, you can go to sleep because there is always somebody there watching your investment for you.' The bank's robust financial performance in 2024 alluded to its commitment to continually delivering value to its investors in spite of challenging macroeconomic conditions. Zenith Bank Group achieved a remarkable double-digit growth of 86 per cent in gross earnings, from NGN2.13 trillion in the previous year to NGN3.97 trillion in 2024. This was driven by a 138 per cent increase in interest income, supported by investment in high-yield government securities, and growth in the Bank's loan book. Customer deposits grew by 45 per cent, reflecting the bank's market leadership and customers' trust. Total assets rose by 47 per cent, underpinned by a strong liquidity position and effective balance sheet management. Zenith Bank's track record of excellent performance has continued to earn the brand numerous awards including being recognized as the Number One Bank in Nigeria by Tier-1 Capital for the fifteenth consecutive year in the 2024 Top 1000 World Banks Ranking, published by The Banker Magazine. The Bank was also awarded the Bank of the Year (Nigeria) in The Banker's Bank of the Year Awards for 2020, 2022 and 2024; and Best Bank in Nigeria for four times in five years, from 2020 to 2022 and in 2024, in the Global Finance World's Best Banks Awards Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Zawya
21-03-2025
- Business
- Zawya
Nigeria: NGX ASI dips by 0.1% as lull persits for five days
At the close of trading at the Nigerian Exchange (NGX) on Thursday, the local bourse extended its negative trajectory, as the All-Share Index declined by 0.05 per cent to 104,858.77 basis points. The Nigerian equities market declined for the fifth consecutive session, extending its bearish run as sell-offs in Zenith Bank and Access Holdings drove the All-Share Index lower by 0.1 per cent. Market capitalisation also fell by 0.05 per cent to N65.75 trillion, reflecting a N35.3 billion loss in equities by session close. Consequently, the Month-to-Date and Year-to-Date returns moderated to -2.8 per cent and +1.9 per cent, respectively. Investor sentiment remained weak, as indicated by negative market breadth, with 14 stocks advancing against 28 decliners. On the performance board, leading the gainers were Computer Warehouse Group, Veritas Capital, Deap Capital Management and Trust, Wapic Insurance and Wema Bank, while Livestock Feeds, Royal Exchange, Custodian Insurance, UACN Property Development Company and Chams topped the losers' chart. Sectoral performance was mostly muted. The Insurance and Consumer Goods sectors gained 0.13 per cent and 0.39 per cent, respectively, while the banking sector declined by 0.43 per cent. The Oil/Gas, Industrial Goods, and Commodity sectors remained flat at 0 per cent. Trading activity was subdued, with the number of deals, total transaction volume, and transaction value declining by 15.23 per cent, 77.28 per cent and 49.51 per cent, respectively. A total of 10,182 transactions were recorded, amounting to N6.25 billion in value and 310.53 million units traded. Fidelity Bank was the most traded stock by volume, at 40.03 million units, while Zenith Bank was the most traded stock by value, at N1.07 billion. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. ( by Kehinde Akinseinde-Jayeoba
