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ZENITH BANK REAFFIRMS MARKET LEADERSHIP AS PAT CROSSES N200BILLION MARK

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In a clear show of its resilience and market leadership, Zenith Bank has announced an impressive result for the year ended December 31, 2019, with profit after tax (PAT) of N208.8 billion, achieving the feat as the first Nigerian Bank to cross the N200 billion mark.

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According to the bank’s audited financial results for the 2019 financial year released in Lagos on Friday, profit after tax rose by 8% to N208.8 billion from the N193 billion recorded in the previous year.

The Group also recorded a growth in gross earnings of 5% rising to N662.3 billion from N630.3 billion reported in the previous year. This growth was driven by the 29% increase in non-interest income from N179.9 billion in 2018 to N231.1 billion in 2019. Fees on electronic products continues to grow significantly with a 108% Year on Year (YoY) growth from N20.4 billion in 2018 to N42.5 billion in the current year. This is a validation of the bank’s retail transformation strategy which continues to deliver impressive results.

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Profit before tax also increased by 5% growing from N232 billion to N243 billion in the current year, arising from topline growth and continued focus on cost optimisation strategies. Cost-to-income ratio moderated from 49.3% to 48.8%.

The drive for cheaper retail deposits coupled with the low interest yield environment helped reduce the cost of funding from 3.1% to 3.0%. However this also affected net interest margin which reduced from 8.9% to 8.2% in the current year due to re-pricing of interest bearing assets. Although returns on equity and assets held steady YoY at 23.8% and 3.4% respectively, the Group still delivered an improved Earnings per Share (EPS) which grew 8% from N6.15 to N6.65 in the current year.

The Group increased its share of the market as it secured increased customer deposits across the corporate and retail space as deposits grew by 15% to close at N4.26 trillion. Total assets also increased by 7% from N5.96 trillion to N6.35 trillion. The Group created new viable risk assets as gross loans grew by 22% from N2.016 trillion to N2.462 trillion. This was executed prudently at a low cost of risk of 1.1% and a significant reduction in the non-performing loan ratio from 4.98% to 4.30%. Prudential ratios such as liquidity and capital adequacy ratios also remained above regulatory thresholds at 57.3% and 22.0% respectively.

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In demonstration of its commitment to its shareholders, the bank has announced a proposed final dividend pay-out of N2.50 per share, bringing the total dividend to N2.80 per share.

In 2020, the Group remains strategically positioned to capture the opportunities in the corporate and retail segments, while efficiently managing costs and expanding further its retail franchise employing digital assets and innovation.

Consistent with this superlative performance and in recognition of its track record of excellent performance, Zenith Bank was voted as the Best Commercial Bank in Nigeria 2019 by the World Finance and the Most Valuable Banking Brand in Nigeria 2019 by The Banker. The Bank was also recognized as Bank of the Year and Best Bank in Retail Banking at the 2019 BusinessDay Banks and Other Financial Institutions (BOFI) Awards, and was ranked as the Best Digital Bank in Nigeria 2019 by Agusto & Co. Most recently, the Bank emerged as the Bank of the Decade (People’s Choice) at the Thisday Awards 2020.

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Sahara weekly online is published by First Sahara weekly international. contact saharaweekly@yahoo.com

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Optiva Capital’s Dr. Kimemia Ignites Empowerment Movement at SheCan 5.0

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Optiva Capital’s Dr. Kimemia Ignites Empowerment Movement at SheCan 5.0

The SheCan Conference 5.0 reached new heights over the weekend as thousands of women and young girls gathered for a day of empowerment, mentorship, and networking. Sponsored by Optiva Capital Partners, the event showcased a diverse lineup of speakers from various fields, making it the most memorable SheCan conference yet.

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Dr. Kimemia, the CEO of Optiva Capital Partners, delivered an inspiring address on ‘Positioning for More’ in one’s career. She emphasized the importance of self-worth, motivation, and service in achieving career success. “You must have self-worth and believe in yourselves. You must believe in your ability to excel and get to the destination that you have set for yourselves,” she urged the attendees. Reflecting on her personal life story, Dr. Kimemia also highlighted the critical role of girl child education in promoting gender equality and women empowerment, stressing its ripple effect on families, communities, and society.

 

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L-R Shaffy Bello, Actress; Optiva Capital Partners CEO, Dr. Jane Kimemia; SheCan Convener, Ezinne Ezeani; Founder, Lifecard International Limited, Grace Ofure Ibhakhomu; and Audrey Joe-Ezigbo, Deputy Managing Director, Falcon Corporation at the SheCan Conference 5.0 in Lagos.

 

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The event began with a powerful rendition of the national anthem by singer Sandra Osamor, setting a tone of inspiration and patriotism. The anthem’s lyrics, especially those addressing the youth, resonated deeply with the audience, reinforcing the conference’s message of nation-building and the importance of youth involvement.

The SheCan Conference, now in its fifth year, brought together an array of speakers, including wealth management experts, financial advisors, entrepreneurial leaders, energy specialists, motivational speakers, and even a comedian who used humor to impart life-changing lessons on decision-making. This diverse mix ensured a comprehensive and engaging experience for all participants.
Ezinne Ezeani, founder of SheCan Nigeria, expressed her gratitude to Optiva Capital Partners and other sponsors for their continued support and belief in the organization’s vision. “We are thankful to Optiva Capital Partners and other companies for being our headline sponsor and helping us create an impactful platform for women to thrive,” she said.

Other notable SheCan Nigeria partners that graced the conference include, Wema Bank, Nigerian National Petroleum Limited and a host of others. The conference also had Audrey Joe-Ezigbo, Deputy Managing Director, Falcon Corporation, Grace Ofure Ibhakhomu, Founder, Lifecard International Limited and many others as speakers at the event.

Optiva Capital Partners is a premier wealth management company, and Africa’s largest firm in investment immigration. The company also specializes in investment advisory, insurance, and international real estate. Their commitment to empowering women aligns with the goals of SheCan Nigeria, a vibrant social movement dedicated to helping women achieve their full potential through collaboration and empowerment.

#OptivaCapital #Dr.Kimemia #Empowerment #SheCan 5.0 #womenempowerment #WemaBank #NigerianNationalPetroleumLimited #NNPC #AudreyJoe-Ezigbo, #DeputyManagingDirector #FalconCorporation #GraceOfureIbhakhomu #Founder #LifecardInternationalLimited

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FIRSTBANK PARTNERS WITH PROPARCO ON CLIMATE PERFORMANCE

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FIRSTBANK PARTNERS WITH PROPARCO ON CLIMATE PERFORMANCE

 

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First Bank of Nigeria Limited, in partnership with Proparco, a Development Finance Institution is mainstreaming climate initiatives into its business operations and strategy. This is aimed at achieving a holistic integration of climate action on Greenhouse Gas (GHG) emissions reduction through an articulated strategic pathway to position the Bank as an African Climate Bank.

The 130-year-old financial institution is currently implementing a mechanism to calculate its operational emissions across all its branches and offices. This includes calculating data on electricity use, diesel use, water consumption, waste management approach, fuel consumption, business travels, etcetera to determine the Bank’s emission baseline and innovative opportunities for operational emissions reduction. FirstBank is developing the required capabilities and competencies by investing in its employees and the right infrastructure for integrating climate action in the Bank.

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In a two-day partnership strategy workshop sessions with IPC and Valoris, consultants from Austria engaged by Proparco in the climate mainstreaming project, FirstBank’s climate journey across all areas of implementation was reviewed to determine progress and empower strategic departments across the Bank’s operations, including: the Credit Risk teams; Human Capital Management & Development (HCMD); FirstAcademy, the Bank’s  learning institute; Corporate Banking; Personal Banking; SME Banking; Procurement; Branch Operations and General Services teams to deepen the understanding of climate risks in their processes.

The six workstreams for the implementation include: Identification of financed and avoided emissions to support reporting; supporting the measurement and analysis of operating emissions; integration of physical climate risk assessment; opportunity analysis; climate strategy and policy development; capacity building amongst staff to support strategy implementation.

Dr Martin Steindl, Managing Director, Valoris, Austria, said, “Amongst our various engagements with financial institutions on climate mainstreaming, FirstBank is the only organization that has been able to provide data both on the assets’ location of their portfolio and head offices of their clients. I am impressed with the progress we have collectively achieved.”

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Reinforcing the Bank’s commitment to mainstreaming climate initiatives, the Ag. Chief Risk Officer, FirstBank, Patrick Akhidenor said ‘’FirstBank is intentional about redefining its climate footprint. We are identifying opportunities in climate finance to improve our portfolio and reduce the carbon emissions associated with our processes and operations. The Bank is executing a financed emissions calculation mechanism as well as creating climate finance opportunities, such as renewable energy and energy efficiency products for our customers.”

Nigeria has committed to reducing its GHG emissions to 20 percent by 2030 and net zero emissions by 2060. While this is ambitious, it sets the tone for businesses in Nigeria to at least support their GHG emissions reduction strategy with national plans and target. FirstBank is committed to achieving this goal and this is evident as the bank is a signatory to the Africa Business Leaders’ Climate Statement released in 2022 at COP 27 in Sharm El Sheikh, Egypt by the Africa Business Leaders Coalition (ABLC).

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Realtormax Announces Sallah Promo, Other Developments

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Realtormax Announces Sallah Promo, Other Developments

 

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Dr. Michael Adeyemi, CEO of Realtormax International Nigeria Limited, said the company will offer various incentives to customers who buy land from any of its two top real estate property – Urbanmax Estate, Obafemi Owode, Ogun State and Aje – The Wealthy Residence, Ibeju Lekki, Lagos, ahead of the Id el kabir Sallah celebrations in June.

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He noted that the exciting offers began on Monday.

Dr Adeyemi explained that while a limited-time 50% discount applies for every purchase at Aje – The Wealthy Residence, household items such as ram, rice, groundnut oil, noodles, and semovita would be available on Urbanmax Estate purchase.

According to him, the gesture was designed to reward Muslim clients and others ahead of the Sallah celebrations.

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The CEO also listed other developments in the company to include installment payments options, partners appraisals event, official launch of Urbanmax Estate in October and Lagos office relocation.

He further restated the real estate firm’s commitment to building sustainable, eco-friendly cities across Africa, adding that it was poised to deliver on its promises and exceed expectations.

Urbanmax Promo
As the Ileya festival approaches, Realtormax introduces the Urbanmax Promo, a gesture of appreciation to Muslim clients. Special offers include household items such as rice, groundnut oil, noodles, semovita, and rams, alongside a 15% commission for realtors and exciting prizes.

The official launch of Urbanmax, the Dream City, is scheduled for October 26th, offering a luxurious blend of lifestyle and serenity at an unbeatable price. Urbanmax currently sells at 1.3 million Naira, which includes survey and deed of assignment. However, post-launch, the price will rise to 2.5 million Naira or more.

Aje – The Wealthy Residence
Realtors are invited to an exclusive inspection of Aje – The Wealthy Residence, followed by the allocation of plots to clients on June 29. With a limited-time offer of 50% discount for the Ileya festival, clients can secure a piece of Aje for just N16 million Naira, inclusive of documentation.

Installment Payments
Realtormax offers opportunities for 3-month, 6-month, and 1-year payment plans and urges clients to prioritise monthly installment payments to avoid penalties and ensure smooth project execution.

Office Relocation
Following a recent fire incident at the Allen office, Realtormax is relocating its head office. Details of the new address will be announced soon, reflecting the company’s resilience and commitment to its vision.

Realtors Appraisal
An upcoming Realtors (partners) Appraisal promises to recognise and reward hard work, coinciding with the grand opening of the new office.

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