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Zenith Bank 

“Market Cap $4 B As of May 2014

  • Industry: Regional Banks
  • Country: Nigeria
  • CEO: Godwin Emefiele
  • Website: www.zenithbank.com
  • Employees: 7,301
  • Sales: $2.1 B
  • Headquarters: Lagos
Forbes Lists
#1478 Global 2000
  • #1002 in Profit
  • #1059 in Assets
Profile

Zenith Bank Plc provides banking and financial services. The company operates in five segments: Corporate, Retail Banking and Pension Custodial Services, Treasury and Investment Management, Insurance, Outside Nigeria Banking and Other. The Corporate, Retail Banking and Pension Custodial Services segment provides a broad range of banking and pension custodial services to a diverse group of corporations, financial institutions, investment funds, governments and individuals. The Treasury and Investment Management segment provides investment advisory, financial planning services and investment product offerings to a diverse group of institutions and individuals. It also includes brokerage services, financing services and securities lending services to institutional clients, including mutual funds, pension funds and to high-net-worth individuals. The Insurance segment includes all lines of insurance other than title insurance, while its life and health insurance operations offer a broad line of individual and group life, annuity and accident and health policies. The Outside Nigeria Banking segment provides a broad range of banking services to a diverse group of corporations, financial institutions, investment funds, governments and individuals outside Nigeria. The Other segment provides share registration and funds trusteeship services in Nigeria. Zenith Bank was founded by Jim Ovia on May 30, 1990 and is headquartered in Lagos, Nigeria.”

“Zenith Bank History

Zenith Bank was established in May 1990. It became a public limited company in July 2004, and had an initial public offering on theNigerian Stock Exchange (NSE) on October 21 of that year. Also in 2004, credit rating agency Fitch Ratings identified its credit as AA- on their long-term scale.

The Bank has been in a series of controversies lately as regards its labor practices. The bank has developed a penchant for mass terminations of staff employment without regard to due process. A series of court cases instigated against the bank by ex-employees adds credence to this view. In 2010, the Bank was defrauded of about N7.5 Billion by a staff and was made to make provisions for it by Nigeria’s reserve bank.”

*Information from Forbes.com and Wikipedia.org

**Video published on YouTube by “ Derrick Frowne

Industry:

Regional Banks