Zenith Bank Plc is one of Nigeria’s leading financial institutions, recognised for its strong financial performance, innovative strategies and high standards of corporate governance. Established in 1990, this Tier-1 financial institution ranks among the top 10 largest banks in Africa. Zenith Bank continuously invests in technological advancements to improve the customer experience, positioning itself as a leader in digital banking in Nigeria. Headquartered in Lagos, the bank serves millions of customers through an extensive network of branches, automated teller machines, digital banking platforms and international offices.
The bank provides a wide range of financial products and services designed for individuals, small businesses and corporations. In 2004, it became a public limited company and was listed on the Nigerian Stock Exchange (NSE) (later rebranded Nigerian Exchange Group [NGX]). Zenith Bank has expanded its operations beyond Nigeria to other African countries and key global financial hubs, including Ghana, Sierra Leone, The Gambia, Côte d’Ivoire, Kenya, the United Arab Emirates (UAE), the United Kingdom, France and China. Aiming to be Nigeria’s top financial institution with an international presence and fuelled by a culture of excellence, the bank has integrated vision, expert banking skills and advanced technology to develop products and services that proactively meet customers’ banking needs, support business growth and help investors build wealth.
In recognition of its operational excellence, dedication to innovation, outstanding customer service, prudent risk management and sustainable growth, Zenith Bank has received numerous local and international awards.
Dame Dr. Adaora Umeoji, OON, Group Managing Director and Chief Executive Officer, Zenith Bank
International Banker recently spoke with Dame Dr. Adaora Umeoji, OON, group managing director and chief executive officer, to explore Zenith Bank’s impressive current performance and growth plans.
It’s a pleasure to have you with us today….
According to the group’s 2025 results, Zenith Bank recorded net interest income (NII) of NGN2.64 trillion, representing a massive 53-percent year-on-year growth from NGN1.73 trillion in 2024. To what do you attribute this stellar performance? What factors contributed to the nonperforming loan (NPL) ratio improving to 3.8 percent in December 2025 from 4.7 percent in December 2024?
Our 2025 performance reflects the strength of a business built on disciplined execution, sound risk management and a long-term perspective. Those principles have guided our decisions across the balance sheet and underpinned the strong results we delivered during the year.
The growth in our net interest income was driven by a deliberate strategy to optimise returns from our securities portfolio while maintaining a disciplined approach to funding. We also improved pricing across the business and expanded our portfolio of interest-earning assets. Together, these initiatives increased interest income by 35 percent to NGN3.7 trillion. Equally important, we maintained healthy margins despite a challenging operating environment. That discipline contributed to gross earnings rising to NGN4.19 trillion and demonstrates the resilience of our business model.
The improvement in our nonperforming loan ratio was equally deliberate. It reflects the strength of our credit underwriting, prudent risk management and continuous portfolio monitoring rather than favourable market conditions. Our teams work closely with customers to identify potential stress early and provide appropriate support where viable. Several Stage 3 facilities returned to stronger performance after sustained engagement and were reclassified. Where loans showed clear signs of deterioration and recovery prospects were limited, we took decisive action by writing them off. Because we had built adequate provisions over time, we were able to do this without compromising the quality of the balance sheet.
These outcomes demonstrate our commitment to sustainable growth, prudent risk management and disciplined execution. They position the bank to continue creating long-term value for our shareholders, customers and other stakeholders.
In Zenith Bank’s first-quarter (Q1) 2026 results, return on average equity (ROAE) and return on average assets (ROAA) were recorded at 24.9 percent and 3.96 percent, respectively—15 percent and 1 percent lower than for the same quarter a year earlier. What caused these declines over the year, and do they concern you?
I view our first-quarter performance in the context of the long-term investments we are making to strengthen the bank. While our return on average equity of 24.9 percent and return on average assets of 3.96 percent were modestly lower than in the corresponding period last year, they are not a cause for concern.
We are investing in capabilities that will support sustainable growth over the long term. One of our key priorities is maximising the value of our recently upgraded technology infrastructure to enhance the customer experience, drive business growth and improve operating efficiency. We remain focused on expanding our pool of low-cost deposits to support quality risk assets and protect healthy margins. These are strategic investments that strengthen our competitive position and lay the foundation for stronger future performance.
Our international businesses are making an increasingly significant contribution to group earnings. In 2025, our existing foreign subsidiaries accounted for 27 percent of group profits, up from 14 percent in 2024. Our African subsidiaries outside Nigeria recorded an impressive 426.7-percent increase in profit after tax during the year. The establishment of subsidiaries in Côte d’Ivoire and Kenya, together with the acquisition of Paramount Bank Kenya, which is already profitable, will further strengthen earnings from 2026.
The temporary moderation in ROAE and ROAA reflects deliberate investment rather than weakening performance. We are building capacity, expanding our international footprint and strengthening our operating platform. We remain confident that these investments will translate into stronger returns and sustainable long-term value for our shareholders.
How are self-service Z Kiosks a crucial part of Zenith Bank’s retail-banking network? Other than Z Kiosks, how is the bank expanding its network in underserved communities, especially where formal branch infrastructure is limited?
Our Z Kiosks are compact self-service banking centres designed to give customers convenient access to essential banking services without the need to visit a full-service branch. They complement our digital channels, reduce pressure on our branches and allow us to extend our physical presence more efficiently and cost-effectively. The kiosks form part of our broader strategy to make banking more accessible, convenient and inclusive.
Beyond the Z Kiosks, we continue to expand our reach through several alternative channels. Our Z-Money agent banking network, digital account opening, mobile banking, internet banking and USSD (Unstructured Supplementary Service Data) services enable customers to access banking services wherever they are, including communities where conventional branch infrastructure may not yet be viable. Our objective is straightforward. We want every customer to enjoy the same quality banking experience regardless of location. By combining physical touchpoints with digital innovation, we are expanding access to financial services while advancing financial inclusion across our markets.
What advanced fraud-monitoring tools has Zenith Bank implemented recently? Does artificial intelligence (AI) help the bank detect and identify fraudulent activity?
Protecting our customers and safeguarding the integrity of our banking platforms remain among our highest priorities. As fraud becomes increasingly sophisticated, we continue to invest in advanced technologies that strengthen our ability to detect, prevent and respond to emerging threats in real-time.
We recently deployed a suite of sophisticated fraud-management solutions across our digital channels. These include the Paygilant fraud solution, which is specifically designed to protect digital banking platforms, e-wallets and related payment ecosystems. We have also implemented the SAS Fraud Management and Detection Solution, an enterprise-wide platform that enables us to monitor transactions across multiple channels from a single integrated system. Alongside these global solutions, we have developed proprietary tools that further strengthen our fraud-prevention capabilities. Our Transaction Monitoring Dashboard identifies unusual transaction patterns in real-time, while our Fraud Check solution enables us to place temporary holds on suspicious inflows pending further review.
Artificial intelligence plays an increasingly important role in this ecosystem. Both the Paygilant and SAS platforms incorporate AI-driven capabilities that help identify suspicious activity, recognise evolving fraud patterns and support faster intervention. When combined with our internally developed solutions, these technologies significantly enhance our ability to stay ahead of emerging threats. Our approach is to combine global best-in-class technology with in-house innovation. That combination enables us to deliver a banking experience that is secure, resilient and seamless for our customers while remaining responsive to an increasingly complex threat environment.
The bank recently introduced the Zenith SME Learning Series, a free monthly training programme for entrepreneurs. Are you satisfied with the uptake of this programme by small and medium-sized enterprises (SMEs)? What is the single most important topic that SMEs should study in 2026?
We have been encouraged by the response to the Zenith SME Learning Series. The level of participation reinforces what we have always believed: Entrepreneurs are looking for more than access to finance. They also value practical knowledge that helps them build stronger, more resilient and more sustainable businesses. Our objective has always been to support SMEs beyond lending by equipping them with the skills needed to thrive in an increasingly competitive business environment. The enthusiasm we have seen confirms that this approach is addressing a genuine need.
If I were to identify one area that deserves particular attention in 2026, it would be financial intelligence, especially cash-flow management. Many businesses do not fail because they lack profitable opportunities. They struggle because they cannot manage cash flow effectively. Strong cash-flow management improves creditworthiness and creates a solid foundation for long-term success.
Through the Zenith SME Learning Series, we want entrepreneurs to acquire practical knowledge that strengthens decision-making and enables them to build businesses that endure.
What is the most important initiative that Zenith Bank is undertaking to empower women-led micro, small and medium-sized enterprises (MSMEs)? Is it achieving the success and results for women entrepreneurs that you initially intended?
Our flagship initiative for women-led businesses is Z-Woman. We introduced Z-Woman because we recognise that access to finance, while essential, is only one part of the equation. Women entrepreneurs also need knowledge, mentorship, networks and ongoing support to build successful and sustainable businesses. That is why the programme combines tailored financial solutions with capacity-building, business development and mentorship opportunities. By bringing these elements together, we are helping women establish stronger enterprises that can grow sustainably, create employment and contribute meaningfully to economic development.
We are pleased with our progress, although we view this as a journey of continuous improvement rather than a destination. As more women-owned businesses grow under the programme, we are seeing the outcomes we originally envisaged. Ultimately, our ambition is to create an environment in which women entrepreneurs have every opportunity to realise their full potential and play an even greater role in driving inclusive economic growth.
You established a climate-related risk-management policy (CRMP) to support lower-carbon outcomes across operations and the credit portfolio, while promoting inclusive green growth and sustainable economic development through the bank’s products and services. Is the CRMP achieving these three goals? How do you measure carbon outcomes across the bank’s operations?
We are encouraged by the progress we have made since we introduced our climate-related risk-management policy. It has strengthened the way climate considerations are incorporated into our governance, enterprise risk management (ERM) framework, lending decisions and overall business strategy.
Climate risk management is an evolving discipline, and we see this as a continuous journey rather than a one-off exercise. It enables us to identify, assess, monitor and manage both physical and transition climate risks across our operations and lending portfolio. It supports greater investment in environmentally sustainable projects, while encouraging deeper engagement with customers on climate-related risks and opportunities.
Measuring our climate impact is equally important. We use internationally recognised greenhouse-gas accounting methodologies to monitor emissions generated by our own operations, including electricity consumption, fuel usage, business travel and other operational activities. We also measure financed emissions across priority sectors within our lending portfolio using globally recognised methodologies. Financed emissions represent a significant component of our overall climate footprint, making this an important area of focus.
Performance is monitored through clearly defined sustainability and climate-related key performance indicators (KPIs), supported by regular reporting and, where appropriate, independent assurance. This enables us to track progress, identify opportunities for improvement and continue strengthening our climate strategy in line with evolving international standards and regulatory expectations.
Zenith Bank’s client relationship management (CRM) model is shifting from solely transactional interactions toward value-aligned partnerships. Can you explain what “value-aligned partnerships” means in practice? How are technology and digitalisation accelerating this shift?
“Value-aligned partnerships” means we have deliberately moved beyond being a service provider that simply processes payments, issues credit or opens accounts. In practice, we embed ourselves in our clients’ end-to-end operations and in their long-term growth. We measure success not by the number of accounts opened, loans disbursed or channels deployed, but by how effectively we help a customer grow, improve efficiency, manage risk and achieve their financial objectives. With a corporate client, that means our relationship managers use the Dynamics 365 Sales Hub to understand sector-specific challenges in real-time and offer proactive, tailored advice in meetings, rather than simply selling a product. With a retail or SME client, it means drawing on their history and goals to recommend the right savings, investment or cash-management solution at the right moment, so that we support their continuity and aspirations, not just execute a transaction.
Technology and digitalisation are the engines behind this shift. Our omnichannel CRM, built on Microsoft Dynamics 365, has turned a static system of record into an intelligent system of engagement and foresight. With a 360-degree view of each customer across every touchpoint, we can personalise offerings, remove friction and anticipate needs. AI-powered insights, personalised recommendations, chatbots, Power Pages and Microsoft Copilot automate routine processes and give our teams practical, actionable insights, which means faster support and more relevant engagement. That is what allows us to move from reactive service to proactive partnership, and to make every interaction count toward long-term, mutual value.
What is the most significant way in which Zenith Bank has shored up its cyber-defences over the last 12 months? Also, how is the bank’s Information Security Steering Committee working to minimise cybersecurity risks?
Cybersecurity is one of our highest strategic priorities because trust is the foundation of banking. As financial services become increasingly digital, threats continue to evolve in both scale and sophistication: ransomware, sophisticated phishing campaigns, identity-based attacks, deepfake-enabled fraud and other AI-driven threats. We treat cybersecurity as an enterprise-wide responsibility rather than simply an information-technology (IT) issue, and protecting our customers, systems and data requires continuous investment and constant vigilance.
Over the past year, we have significantly strengthened our cyber resilience across people, processes and technology. We expanded our threat detection and response capabilities, enhanced fraud monitoring, strengthened cloud security, improved identity and access management, and reinforced vulnerability management across the organisation. These initiatives are supported by continuous monitoring, regular security assessments and ongoing staff-awareness programmes.
One important milestone was the successful recertification of our Information Security Management System to the ISO/IEC 27001 standard. Beyond maintaining an international certification, it demonstrates the strength of our governance framework, our risk-management processes and our commitment to continuous improvement.
Our Information Security Steering Committee provides strategic oversight for cybersecurity across the group, and I chair it. Cybersecurity is not simply a technology issue; it is a business priority that demands leadership from the highest level. The committee brings together senior executives from across the organisation, ensuring that cyber risk is managed consistently rather than in isolated functions. Its responsibilities include reviewing our cybersecurity strategy, monitoring emerging threats, overseeing key risk indicators and recommending strategic investments that strengthen our resilience. It ensures compliance with regulatory and industry standards. It also oversees incident-response preparedness through regular tabletop exercises, business-continuity planning and disaster-recovery testing.
Cybersecurity is ultimately about protecting confidence. By embedding security into our governance, culture and day-to-day operations, we continue to strengthen the bank’s resilience while safeguarding the trust our customers place in us.
Regarding Zenith Bank’s expansion strategy, what is the single most significant objective that you hope the bank will achieve within the next 12 to 18 months?
Zenith Bank’s key objective is to accelerate its pan-African and international expansion while deepening the integration and performance of its existing subsidiaries. This is driven by our vision to become a truly global African financial institution that connects businesses, facilitates trade and supports growth across key markets by delivering stronger group synergies and locally relevant solutions for multinational corporations (MNCs), SMEs and retail customers.
We will leverage technology, digital transformation, AI and data analytics to enhance customer experience and efficiency, while maintaining strong risk management and governance. Success will be measured by international earnings contribution, market share, customer growth, cross-border volumes, subsidiary integration and digital adoption—ultimately delivering sustainable profitability, long-term shareholder value and a stronger position as one of Africa’s leading banks with global reach.
Zenith Bank is well on its way to achieving that goal. Thank you again for your time today.