Yemisi Izuora/Ijeoma Agudosi
Chairman of Zenith Bank, Jim Ovia, has said that 2014 was indeed a challenging year for operators in the banking industry but that Zenith bank was able to exploit the opportunities within the environment.
Ovia who spoke at the banks Annual General Meeting (AGM) said the resilience of the bank in the face of the seeming challenges translated into another excellent performance that further attested to the durability of the brand, adding that the results once again was an eloquent testimony to the sound financial health of the bank and the Group.
For the bank, total deposits was N2.26trillion for in 2014. Profit after tax also increased by 11 per cent from N83.41 billion in 2013 to N92.48 billion in 2014,” he said.
Also speaking, the Managing Director/Chief Executive Officer of Zenith Bank, Peter Amangbo, said the bank was able to endure all challenges and difficulties to become the biggest bank in Nigeria by tier-1 capital, showing strength in asset size, liquidity, profitability, asset quality and capitalisation.
“The very strong earnings, solid capital adequacy, high liquidity and good quality risk assets, have positioned Zenith Bank at the pinnacle of Nigeria’s banking industry and in a commanding influence in the markets that we operate in,” he said.