Zenith Bank Retains Nigeria’s Most Valuable Banking Brand Position
By Nume Ekeghe
Zenith Bank Plc. has again emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2021.
For the fourth consecutive year, Zenith Bank has been ranked as the number one banking brand in Nigeria with a brand value of $275 million, moving up two places from 392 in 2020 to 390 in the 2021 global ranking of banks.
Notably, Zenith Bank is the only Nigerian bank among the first 400 banks in the global ranking.
The ranking was published in the February 2021 edition of The Banker Magazine of the Financial Times Group in conjunction with London-based Brand Finance.
According to the publication, brand value is the licensing rate that a third-party would need to pay to use the bank’s brand.
Commenting on the latest ranking, the Group Managing Director/Chief Executive of Zenith Bank Plc, Mr. Ebenezer Onyeagwu, said: “This ranking is a further affirmation of the bank’s resilience given the very challenging macroeconomic environment brought about by the Coronavirus (COVID-19) pandemic”.
He added: “Zenith Bank remains committed to sustaining the superior performance which has earned it this recognition as Nigeria’s Most Valuable Banking Brand, thus building on the legacy of its visionary Founder and Chairman, Mr. Jim Ovia, CON, whose pioneering and foundational role in building the structures and laying the foundation ensured an enduring and very successful institution.
“Zenith Bank places a premium on its core business strategy anchored on People, Technology and Service, to create value for its numerous clientele. With a team of dedicated professionals, the bank leverages its robust Information and Communication Technology (ICT) infrastructure to provide cutting-edge solutions and products through its network of branches and electronic/digital channels.”
Zenith Bank’s emergence as the Most Valuable Banking Brand in Nigeria is coming on the heels of several awards and recognitions in 2020 for its track record of excellent performance.
The bank was voted as Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020, Best Bank in Nigeria in the Global Finance World’s Best Banks Awards 2020 and Best Corporate Governance ‘Financial Services’ Africa 2020 by the Ethical Boardroom.
Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine “Top 500 Banking Brands 2020” and Number One Bank in Nigeria by Tier-1 Capital in the “2020 Top 1000 World Banks” ranking by The Banker Magazine. Similarly, the bank was recognised as Bank of the Decade (People’s Choice) at the THISDAY Awards 2020, Retail Bank of the year at the 2020 BusinessDay Banks and Other Financial Institutions (BOFI) Awards, and Best Company in Promotion of Good Health and Well-Being as well as Best Company in Promotion of Gender Equality and Women Empowerment at the Sustainability, Enterprise and Responsibility (SERAS) Awards 2020.