Zenith Bank has announced an offer to raise fresh capital, which opened on August 1, 2024, and is set to close on September 9, 2024.

The bank plans to utilize the proceeds to enhance its capital base, pursue strategic objectives, finance business developments, and expand into new geographic markets.

The funds will be allocated towards:

– Enhancing IT infrastructure
– Providing working capital
– Supporting the real sector
– Establishing a branch in Paris, France, to tap into the UEMOA and CEMAC regions

Dr. Adaora Umeoji, Group Managing Director, highlighted Zenith Bank’s:

– Efficient capital utilization track record
– Commitment to solidifying its global presence
– Strong brand loyalty position
– Achievement of Tier-1 capital of N1.9 trillion, the highest in Nigeria
– Consistent dividend payout trend, with a dividend of N4.00 per share, making it the highest dividend-paying bank in Nigeria