Zenith Bank is charting an impressive course toward global recognition, achieving remarkable growth across key metrics in 2024—arguably one of the most dynamic periods in its 35-year history. The bank reported an 86% surge in gross earnings to N3.97 trillion (US$2.47 billion) and a 67% increase in profit before tax to N1.3 trillion, marking a standout year in its core banking operations.
A significant catalyst for this success has been the bank’s aggressive digital transformation, a strategy accelerated under the leadership of Dr. Adaora Umeoji, who became Group Managing Director and CEO in June 2024. Since then, Zenith has revamped its digital infrastructure, introducing state-of-the-art solutions such as Oracle FLEXCUBE for core banking, Kastle Universal Lending System for lending, Calypso for treasury management, and Oracle Banking Trade Finance for trade services. The bank also adopted an enterprise service bus (ESB) to improve scalability, resilience, and seamless integration across its systems.
According to Dr. Umeoji, these innovations are designed to deliver exceptional customer experiences, drive product innovation, and enable faster go-to-market capabilities, all while empowering staff with the tools needed to provide world-class service. The upgrades are expected to boost operational efficiency, ensure minimal downtime, and position Zenith as a future-ready, agile institution. The infrastructure also lays the foundation for an open banking ecosystem, allowing for API-driven innovation, efficient expansion, and robust risk and compliance management.
Zenith Bank’s digital investment, exceeding $100 million, is particularly enhancing its corporate and investment banking arm. The bank’s integrated digital payments architecture now offers clients a seamless, real-time transaction experience through online banking, mobile solutions, and API-driven platforms. Its treasury operations have also been modernized, supporting global trade and cross-border transactions.
This blend of cutting-edge technology, global market expansion, and customer-centric solutions reinforces Zenith’s standing as a trusted partner to multinationals, large corporates, and institutional clients. The bank’s customer service ethos—grounded in excellence, transparency, and proactive engagement—aims to build long-term relationships rather than mere transactions.
Zenith’s commitment to SMEs is another pillar of its strategy. Through initiatives like the SME Grow My Business (SME-GMB) platform, Zenith provides small businesses with digital exposure via Google listings, capacity-building training, and tools to enhance efficiency. Its partnership with Google’s Business Profile (GBP) program helps SMEs increase their visibility, track engagement, and develop digital assets. Additionally, the Z-Woman initiative offers tailored loans to empower women-led enterprises, highlighting Zenith’s dedication to gender inclusion and the broader SME ecosystem.
Dr. Umeoji’s appointment as the first female CEO of Zenith Bank underscores the bank’s commitment to diversity and inclusion. She emphasizes the importance of fostering a culture of inclusivity, addressing unconscious biases, and implementing policies such as mentorship programs, flexible work arrangements, and robust maternity leave provisions. Dr. Umeoji also champions ongoing education and sensitization efforts to challenge societal norms and advance gender equality within the banking industry. “By adopting a holistic approach, we can transform gender equality from an aspiration into reality,” she affirms.
Zenith Bank’s forward-looking strategy, driven by technology, inclusivity, and innovation, is setting a benchmark for the banking industry in Nigeria and beyond.
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Source: https://internationalbanker.com/
