COMFORT EKELEME, Asst Business Editor
Following its significant impact in the nation’s economy in the last thirty years of its existence in the Nigerian financial services sector, Former President, Association of National Accountants of Nigeria (ANAN), Dr. Samuel Nzekwe has described Zenith Bank Plc as one of the best banks Nigerians can rely on for financial transactions.
According to him, Zenith Bank is one of the major banks that have done very well in Nigeria in terms of financial intermediation and customer friendly products that have made banking services easier for its nemerous customers.
Zenith Bank’s customer base comprises mainly corporate entities many of which are subsidiaries of multinational corporations and large indigenous companies, while its lending strategy stresses rational procedures and transparency. As a result of this approach, the Bank’s credit portfolio has about the best asset quality in the Nigerian banking industry.
For instance the bank’s non-performing loans to total loans ratio has always been less than industry average since inception and through the thick of the global financial crises in 2008/2009.
While speaking with Daily Champion, Nzekwe who is also a customer of the bank maintained that Zenith Bank through its Corporate Social Responsibilty (CSR) implemented numerous projects to ensure the growth of the nation’s economy.
He futher urged the bank to initiate more customer friendly policies so that customers can be able to access loans. “I am not saying that they should close their eyes on the informations they need to get from customers before granting loans. I think that if they make it very simple for people to access loans, that would be very wonderful. The inability of our people to get loans is what is affecting our economy.
In terms of relationship and services to customers, Nzekwe maintained that the bank is doing very well, as customers are satisfied with the lender’s ways of reaching its numerous customers across the country.
As Nigeria’s leading financial institution, Zenith Bank recently introduced an automated voice banking service, an Interactive Voice Response (IVR) solution which enables customers to perform basic banking transactions by dialing a dedicated phone line through their registered phone numbers and following the prompts.
By simply dialing +234 (1) 278 7000 from the phone number linked to their accounts and following the prompts, customers can pay DSTV/GOTV bills, restrict their accounts or block their cards, request account statement via email, view the last five transactions, transfer funds, buy airtime, and do lots more.
Speaking on the launch of the product, the Group Managing Director/Chief Executive Officer, Mr. Ebenezer Onyeagwu, said that the “Zenith automated voice banking service is designed to ensure a truly amazing experience that will offer convenience for our teeming customers”.
The GMD added that the self-service product offers quick response to customers in addition to security entrenched by the multilayer authentication mechanism.
He urged the bank’s customers to take advantage of this unique service particularly at this critical time when the physical interface with the Bank has been greatly impacted due to social distancing and the restriction of movement in some states of the federation due to the Coronavirus (COVID-19) pandemic.
Zenith Bank has clearly distinguished itself in the Nigerian financial services industry through superior service quality, unique customer experience and sound financial indices.
The bank remains a clear leader in the digital space with several firsts in the deployment of innovative products, solutions and alternative channels that ensure convenience, speed and safety of transactions.
The bank’s commitment to world-class service standards has led to several product innovations over the last couple of months including the “Zenith Timeless Account”, which allows Nigerians aged 55 years and above Bank for free, the “Zenith Save4me”, a high-interest target savings account and “Dubai Visa Service” on the Zenith Internet Banking Platform, which allows convenient application and payment for visas to Dubai.
As a testament to its excellent performance, commitment to best-in-class service and recognition as one of the most innovative financial institutions in Nigeria, Zenith Bank was ranked as the Best Digital Bank in Nigeria 2019 by Agusto and Co.
The Bank was also voted as the Best Commercial Bank in Nigeria 2019 by the World Finance and emerged as Bank of the Year and Best Bank in Retail Banking at the 2019 BusinessDay Banks and Other Financial Institutions (BOFI) Awards.
Most recently, Zenith Bank was recognized as the Most Valuable Banking Brand in Nigeria, for the third consecutive year, in the Banker Magazine “Top 500 Banking Brands 2020” and the Bank of the Decade (People’s Choice) at the ThisDay Awards 2020.
As a responsible corporate citizen, giving back to the communities where it carry out business is an integral part of Zenith Bank’s overall strategy.
The bank said it’s aim is to ‘give back’ in a structured and sustainable manner that ensures the greatest possible impact on numerous beneficiaries.
To achieve this, “we periodically carry out need-gap analysis in target communities to be able to accurately determine areas where our support is most needed. This enables us to deliver CSR projects that are relevant and impactful. In line with the principles of the United Nations Sustainable Development Goals, Zenith Bank is committed to the improvement of the socioeconomic condition of the communities where we do business.
“Our social initiatives are geared towards eradicating extreme poverty, encouraging skills development and capacity building, employment creation, and supporting government’s efforts at achieving inclusive growth and development,” the bank said.
Zenith Bank Plc was established in May 1990, and commenced operations in July of the same year as a commercial bank. The Bank became a public limited company on June 17, 2004 and was listed on the Nigerian Stock Exchange (NSE) on October 21, 2004 following a highly successful Initial Public Offering (IPO). Zenith Bank Plc currently has a shareholder base of about one million and is Nigeria’s biggest bank by tier-1 capital. In 2013, the Bank listed $850 million worth of its shares at $6.80 each on the London Stock Exchange (LSE).
Headquartered in Lagos, Nigeria, Zenith Bank Plc has over 500 branches and business offices in prime commercial centres in all states of the federation and the Federal Capital Territory (FCT). In March 2007, Zenith Bank was licensed by the Financial Services Authority (FSA) of the United Kingdom to establish Zenith Bank (UK) Limited as the United Kingdom subsidiary of Zenith Bank Plc.
Zenith Bank also has subsidiaries in: Ghana, Zenith Bank (Ghana) Limited; Sierra Leone, Zenith Bank (Sierra Leone) Limited; Gambia, Zenith Bank (Gambia) Limited. The bank also has representative office in The People’s Republic of China. The Bank plans to take the Zenith brand to other African countries as well as the European and Asian markets.
Zenith Bank blazed the trail in digital banking in Nigeria; scoring several firsts in the deployment of Information and Communication Technology (ICT) infrastructure to create innovative products that meet the needs of its teeming customers.
The bank is verifiably a leader in the deployment of various channels of banking technology, and the Zenith brand has become synonymous with the deployment of state-of-the-art technologies in banking. Driven by a culture of excellence and strict adherence to global best practices, the Bank has combined vision, skillful banking expertise, and cutting-edge technology to create products and services that anticipate and meet customers’ expectations; enable businesses to thrive and grow wealth for customers.
Infrastructure development
Zenith Bank actively supports governments’ effort at developing the country’s physical infrastructure, undertaking the reconstruction of roads in bad conditions, renovation of public buildings, beautification and landscaping, among others. Among the bank’s flagship projects in this regard is the Ajose Adeogun road located in Victoria Island, Lagos. The project entailed the total reconstruction and beautification of a 2.6- kilometer road. Considering its highly strategic location in the heart of Lagos Island, the Ajose Adeogun road project was intended to serve as a model of how a road on a metropolitan, highbrow area should be.
In addition to the ‘green ambience’ Zenith Bank has maintained at Ajose Adeogun road since 2007, every December, Zenith Bank decorates the road with spectacular Christmas lightings and animations that add extra glamour to the yuletide season and the celebrations of thousands of Lagos residents and tourists from within and outside the country.
Superior service quality
Zenith Bank has clearly distinguished itself in the banking industry through superior service quality, unique customer experience, and sound financial indices. These have become part of its corporate culture to the extent the bank is easily associated with the following attributes; Best-in-class customer experience, creativity, excellent financial performance, good asset quality, stable management, dedicated and highly skilled work-force, cutting-edge Information and Communication Technology, efficient and effective distribution channels.
The bank’s strategy of assessing and managing its impact on the industry forms an integral part of its strategic objective. Specifically, the bank considers how the present and future capital requirements will be met and managed in view of projected capital requirements based on its assessment and against the regulatory capital requirement.
For a better society
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