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ZENITH BANK REAFFIRMS MARKET DOMINANCE AND LEADERSHIP WITH Q3 2019 RESULTS

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Zenith Bank Plc has announced its unaudited results for the period ended
30 September, 2019, with numbers that clearly demonstrates its market
dominance and leadership.
From the unaudited account which was presented to the Nigerian Stock
Exchange (NSE), gross earnings increased by 4% percent from N474,607
billion recorded in Q3 2018 to N491,268 billion in Q3 2019. Profit Before
Tax (PBT) grew by 5% from N167,307 billion in Q3 2018 to a record
N176,183 billion in Q3 2019. Also, profit after tax rose by 5% from
N144,179 billion in Q3 2018 to N150,723 billion in Q3 2019.
Despite a challenging macro-economic backdrop, the Group recorded a
significant growth in Non-Interest Income, expanding by 22% from N128.7
billion in Q3 2018 to N156.8 billion for the current period. Our platforms and
channels have been the enablers of this growth, with fees from electronic
products doubling to N35.3 billion from N17.6 billion in Q3 2018.
Our cost optimization strategies and aggressive retail banking drive are
yielding the desired effects as cost-to-income ratio declined from 51.2% in
Q3 2018 to 50.1% in Q3 2019 with Earnings Per Share (EPS) growing by
5% from N4.58 in Q3 2018 to N4.80 in Q3 2019.
Our retail and corporate banking franchises continued its momentum with
customers’ deposits growing by 7% to N3.95 trillion from N3.69 trillion
recorded as at December 2018, a reflection of increasing share of the
industry’s deposits and customers’ confidence in the Zenith brand. These
deposit acquisitions have directly contributed to our cost of funds improving
from 3.3% in Q3 2018 to 2.95% as at Q3 2019.
We have continued to deploy capital to creating viable risk assets with
gross loans and advances growing by 9% from N2.02 trillion as at
December 2018 to N2.2 trillion as at Q3 2019 across both the retail and
corporate segments. Our focus remains the search for bankable lending
opportunities to ensure the attainment of the minimum regulatory loan-to-
deposit ratio (LDR) of 65% by December 31, 2019 without compromising
our prudence.

Our robust risk management framework has ensured that non-performing
loans (NPL) ratio declined from 4.98% in December 2018 to 4.95% in the
current period. Our commitment to maintaining a shock-proof balance
sheet remains with liquidity and capital adequacy ratios at 63.8% and
23.8% respectively, both above regulatory thresholds.
In this final quarter of the year, we will sustain our competitiveness and
share of market in the corporate segment and build upon our digital
foundations to reinforce our retail banking initiatives.
As a testament to this superlative performance and in recognition of its
track record of excellent performance, the bank was recently named as the
Bank of the Year and the Best Bank in Retail Banking at the 2019
BusinessDay Banks’ and Other Financial Institutions Awards (BAFI
Awards).

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PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status 

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PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status 

*PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status 

 

To prevent any misunderstanding regarding our affiliation with the United Nations, we hereby provide a formal clarification on the status and identity of the United International Peace and Governance Council (UNIPGC), formerly known as IPGC.

 

UNIPGC is an independent Civil Society Organization and Non-Governmental Organization with continental chapters registered in the United States, Germany, Canada, and several countries across Africa. The organization is committed to promoting the values and principles of the United Nations, particularly in advancing Sustainable Development Goal 16 (Peace, Justice, and Strong Institutions), as well as advocating for good governance globally.

 

In furtherance of its mandate, UNIPGC has established partnerships with reputable diplomatic civil society organizations, including the United Nations Association of Nigeria and the United Nations Association of Ghana. These collaborations are aimed at strengthening its engagement with initiatives aligned with United Nations ideals.

 

Additionally, UNIPGC has entered into diplomatic relations with the International Organization for Economic Development (IOED), an Intergovernmental Organization (IGO), to enhance its capacity for international cooperation and diplomatic engagement.

PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status 

We wish to clearly state that UNIPGC is **not** an entity, agency, or organ of the United Nations.

 

Members of the public and media practitioners are respectfully advised to refer to the organization by its full and correct name: **United International Peace and Governance Council (UNIPGC)**, and not as the United Nations.

 

Thank you.

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Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour

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Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour

 

 

 

Laffmattazz, one of Nigeria’s foremost comedy and live entertainment brands, is pleased to announce its official partnership with First Bank of Nigeria Limited for the highly anticipated Laffmattazz 2026 International Tour, themed “Next Chapter: A New Season of Laughter.”

 

Now in its 15th year, Laffmattazz—the brainchild of renowned Nigerian comedian Gbenga Adeyinka (Gbenga Adeyinka 1st)—has evolved into a cultural phenomenon, celebrated for its seamless fusion of comedy, music, and live stage performances.

 

The 2026 tour, which kicked off on Easter Sunday, April 5th, 2026 at the Jogor Centre, Ibadan, marks a significant milestone in the brand’s journey. Building on over a decade of success across Nigeria, this year’s edition signals a bold expansion into the international market, with a multi-city run in Canada, alongside major stops in Akure, Abeokuta, and Lagos.

 

This strategic partnership with First Bank of Nigeria Limited underscores a shared commitment to excellence and innovation. It is also aligned with FirstBank’s First@Arts initiative—a significant and ongoing program dedicated to supporting the creative arts, entertainment, and cultural sectors. Through this initiative, FirstBank provides financing, advisory services, and actively fosters a sustainable value chain for artists and creative entrepreneurs, while supporting key industry platforms such as the Nigerian Entertainment Conference.

 

Speaking on the collaboration, the Laffmattazz team stated:

 

“We are delighted to welcome First Bank of Nigeria Limited as a strategic partner for the Laffmattazz 2026 International Tour. As we mark 15 remarkable years of Laffmattazz, this partnership reinforces our vision to take premium Nigerian entertainment beyond borders, while delivering even bigger, better, and more memorable experiences for our audiences.”

 

As a key partner, First Bank will enrich the tour through innovative customer engagement initiatives, experiential activations, and exclusive fan experiences across all tour locations.

 

With its distinctive blend of humor, culture, and live entertainment, the Laffmattazz 2026 Tour is poised to connect audiences across cities and continents, bringing laughter to thousands of fans worldwide.

 

 

About Laffmattazz

 

Laffmattazz is a premier Nigerian comedy and entertainment brand, now in its 15th year, renowned for its vibrant live shows and nationwide tours. Founded by Gbenga Adeyinka 1st, the brand continues to deliver high-quality experiences that celebrate creativity, culture, and laughter.

 

About First Bank of Nigeria Limited

 

First Bank of Nigeria Limited is Nigeria’s oldest financial institution, widely respected for its legacy of trust, innovation, and customer-centric financial solutions that support economic growth and development. Through its First@Arts initiative, the Bank continues to play a pivotal role in empowering the creative industry and driving sustainable growth across the sector.

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MREIF is Better: FirstBank’s Mortgage Loan Is the Game-Changer for Home Ownership in Nigeria

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FirstBank Set to Launch Tailored Financial Services for Blind and Physically Challenged Customers  

MREIF is Better: FirstBank’s Mortgage Loan Is the Game-Changer for Home Ownership in Nigeria

 

 

 

Anyone who has tried to get a loan to buy a house in Nigeria knows the drill: endless forms, property valuation, and eventual down payment of a minimum 25% or more on the property. Sometimes, interest rates could go as high as 30% per annum, while the typical loan limit is N50 million.

 

 

 

Now, FirstBank is making homeownership more attractive.

 

 

 

FirstBank, in partnership with the Ministry of Finance Incorporated (MOFI), has introduced the MREIF Home Loan. MREIF loan is a game-changer, offering a single-digit interest rate of 9.75% per annum, with a loan amount of up to ₦100 million and a repayment period of up to 20 years. This is perfect for salaried individuals, including Nigerians in the diaspora, looking to purchase homes in approved locations.

 

The MREIF loan stands out with its lower interest rate, higher loan amount, and flexible equity contribution as low as 10%. This makes it an attractive option for those seeking affordable homeownership.

 

 

 

You are one quick decision away from being a landlord.

 

 

 

If you’ve been waiting for the right time to buy a home, FirstBank’s MREIF Home Loan is the smartest route to owning property in Nigeria today. Visit the FirstBank website https://www.firstbanknigeria.com/personal/loans/mreif-home-loan/ to get started.

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