The Banker Magazine, which is known as a credible source of ranking banks globally in its 2023 top 1000 world banks ranking, shows that Zenith Bank Plc still retained its lead as the ‘Number One Bank in Nigeria by Tier-1 Capital.’ This is coming shortly after Zenith Bank Plc recently joined SWOOTs making it the first financial institution in Nigeria to grow to N1tn market capitalization.
Zenith Bank has held this position as the number one Tier-1 bank in Nigeria for the fourteenth year in a row. The bank is currently ranked as the 467th bank globally with a Tier-1 capital of $2.54bn.
According to reports, the ranking by The Banker Magazine of the Financial Times Group, United Kingdom was published in the July 2023 edition and was based on the records of the 2022 year-end Tier-1 market capital of banks worldwide.
Statement: “The rankings continue to be the primary source for global bank financials and are used by most international organizations in their assessments of banks,” it stated.
Zenith Bank's overall financial performance in 2022 was calculated based on the 24% in gross earnings, which improved the bank's market share in both corporate and retail segments in the market. It was also surprising despite the volatility in stocks and the inflation that affected the economy in 2022, the bank was able to attain such a height.
Read more: https://www.investingport.com/global-rankings-zenith-bank-plc-leads-in-nigeria-for-the-14th-time/