Zenith Bank sets strategies for higher profitability



Zenith International Bank has set strategies that will enable it make more profit and  surpass the expectations of the bank’s stakeholders.

Managing Director Zenith International Bank Mr Godwin Emefiele, who disclosed this while addressing shareholders in Lagos  said that the  board and management of Bank would  work hard to ensure that the confidence  the shareholders have placed on them  is not misplaced,

Speaking further, he said, “For the few months that I have to be there and beyond, I can assure you that we would continue to do more to position the bank higher  and move it from its current number six position  in terms of shareholders’ funds to number one  in Africa. We are already number one in West Africa and soon, we would begin to compete with some of the best banks in the world.”

He said that the strategic objective of the bank remains the continuous improvement of its capacity to meet the customers changing and increasing banking needs as well as sustain high quality growth in a volatile business environment through constant investment in training and retraining of workers.    The bank also planned to maintain strong risk management and corporate governance practices as well as sustain its  profitability and ensure adequate return on equity (ROE).
He said that the main thrust of the bank’s strategy in the last couple of years was the expansion of its business beyond the shores of Nigeria, starting with expanding into the West Africa sub-region while consolidating its position as a leading financial services providers in Nigeria with branch network expansion from about 100 in 2004 to over 330 in 2012.

The bank also said that the planned integration of African states under the proposed African Union provides a unique opportunity for the bank to build a strong banking franchise based on its experienced and loccal expertise.

Emefiele said that  his appointment as the next Governor, Central Bank of nigeria (CBN) is  a national assignment, adding that  he would work very hard with others  to ensure that they  take this country to greater heights.

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