Zenith Bank Plc has once again secured its place at the top of Nigeria’s banking industry, emerging as the country’s Number One Bank by Tier-1 Capital for the 16th consecutive year. This was confirmed in the 2025 edition of the Top 1000 World Banks Rankings, published by The Banker, a publication of the Financial Times Group, United Kingdom.
According to the ranking, Zenith Bank is positioned as the 581st bank globally, boasting a Tier-1 Capital base of $2 billion. The rankings, which are based on year-end 2024 figures, serve as a key benchmark for evaluating banks’ financial strength and stability across the globe.
Reacting to the development, Group Managing Director and Chief Executive Officer of Zenith Bank, Dr. Adaora Umeoji, expressed pride in the bank’s consistent performance. “We are thrilled to have retained our 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 said.
Dr. Umeoji acknowledged the instrumental role played by the bank’s Founder and Chairman, Jim Ovia, praising his visionary leadership. She also expressed gratitude to the bank’s customers for their continued loyalty, the Board for upholding strong corporate governance standards, and the entire Zenith staff for their dedication and hard work.
Tier-1 Capital, a key regulatory measure of a bank’s financial health, includes core capital such as common stock, disclosed reserves, retained earnings, and minority interests in subsidiaries. A strong Tier-1 Capital position reflects a bank’s capacity to absorb losses and maintain operational stability, enhancing confidence among investors and depositors.
Zenith Bank’s financials for the 2024 fiscal year further reinforce its top-tier status. According to audited results submitted to the Nigerian Exchange (NGX), the bank reported an 86% surge in gross earnings, moving from ₦2.13 trillion in 2023 to ₦3.97 trillion in 2024. This growth was largely fueled by a 138% jump in interest income, attributed to investments in high-yield government securities and an expanded loan book.
The bank’s profit before tax also climbed significantly, rising by 67% from ₦796 billion in 2023 to ₦1.3 trillion in 2024. In light of this stellar performance, Zenith declared a record-breaking total dividend payout of ₦195.67 billion, translating to ₦5.00 per ordinary share.
Zenith Bank’s consistency in delivering outstanding results has earned it numerous local and international accolades over the years. These include the Bank of the Year (Nigeria) award from The Banker in 2020, 2022, and 2024; Best Bank in Nigeria in the Global Finance World’s Best Banks Awards from 2020 to 2022, 2024, and 2025; and Best Bank for Digital Solutions in Nigeria at the Euromoney Awards 2023.
The bank was also named among the World Finance Top 100 Global Companies in 2023, and earned recognition as Best Commercial Bank, Nigeria for four consecutive years (2021–2024) by World Finance. Other honours include Most Sustainable Bank, Nigeria by International Banker in both 2023 and 2024, and Best Corporate Governance Bank, Nigeria by World Finance from 2022 to 2024.
Zenith has also dominated the Ethical Boardroom awards, being recognised as Best in Corporate Governance (Financial Services) in Africa from 2020 to 2023. Its brand strength was highlighted when it was ranked the Most Valuable Banking Brand in Nigeria by The Banker Magazine in 2020 and 2021.
At the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, the bank secured the Bank of the Year award in both 2023 and 2024, and was named Retail Bank of the Year in 2020, 2021, 2022, and 2024. Zenith also took home Best Innovation in Retail Banking and Best Commercial Bank, Nigeria in the International Banker 2022 Banking Awards.
