BREAKING: ZENITH BANK EXITS CBN’S REGULATORY FORBEARANCE BY 30TH JUNE, ASSURES SHAREHOLDERS OF CONTINUED DIVIDEND PAYOUT
Zenith Bank Plc, Nigeria’s biggest bank by Tier-1 Capital, has assured shareholders and
investors of its readiness to satisfy all relevant conditions to exit the Central Bank of
Nigeria’s (CBN) regulatory forbearance by June 30, 2025.
The bank also expressed
confidence in meeting shareholders’ dividend expectations in the 2025 financial year.
The clarification comes on the back of heightened scrutiny of Nigerian banks’ capital health
following the new CBN directive that suspends dividend payments and tightens oversight for
banks with outstanding forbearance-related loans or breaches of the Single Obligor Limit
(SOL).
In a statement presented to the Nigeria Exchange (NGX) Group on Tuesday, June 17,
2025, the Bank stated that its exposure under the Single Obligor Limit (SOL) forbearance
relates solely to a single obligor, pointing out that this exposure will be brought within the
applicable regulatory limit on or before June 30, 2025. The bank also confirmed that the
forbearance granted on other credit facilities applies to only two (2) of its customers, noting
that it has made substantial provisions in respect of these facilities and taken appropriate
and comprehensive steps to ensure full provisioning by June 30, 2025.
The bank further emphasized its strong financial footing, stating that it has successfully
raised and surpassed the new regulatory capital requirement of N500 Billion, and is
therefore well positioned to continue delivering value to all its key stakeholders.
Zenith Bank has continued to distinguish itself in the Nigerian financial services industry
through superior service offering, unique customer experience and sound financial indices.
The bank has remained a clear leader in the digital space with several firsts in the
deployment of innovative products, solutions and an assortment of alternative channels that
ensure convenience, speed and safety of transactions.
The Bank’s track record of excellent performance has continued to earn the brand
numerous awards including being recognised 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 Bank of the Year (Nigeria)
in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria
from 2020 to 2022, 2024 and 2025, in the Global Finance World’s Best Banks Awards; Best
Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; and was listed in the
World Finance Top 100 Global Companies in 2023.
Further recognitions include Best Commercial Bank, Nigeria for four consecutive years from
2021 to 2024 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in
the International Banker 2023 and 2024 Banking Awards. Additionally, Zenith Bank has
been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance
Corporate Governance Awards for 2022, 2023 and 2024 and ‘Best in Corporate
Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the
Ethical Boardroom.
The Bank’s commitment to excellence saw it being named the Most Valuable Banking
Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021, Bank
of the Year 2023 and 2024 at the BusinessDay Banks and Other Financial Institutions
(BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022
and in 2024 at the BAFI Awards. The Bank also received the accolades of Best Commercial
Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker
2022 Banking Awards.
Zenith Bank was also named Most Responsible Organisation in Africa, Best Company in
Transparency and Reporting and Best Company in Gender Equality and Women
Empowerment at the SERAS CSR Awards Africa 2024; Bank of the Year 2024 by ThisDay
Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME
Trade Finance, 2023 by Nairametrics. The Bank’s Hybrid Offer was also adjudged ‘Rights
Issue/ Public Offer of the Year’ at the Nairametrics Capital Market Choice Awards 2025.
