GBOLABO AFUWAPE
Nigeria’s leading commercial lender- Zenith bank has continued to wax stronger and turning impressive results since its current Chief executive officer, Peter Amangbo took reins five years back.
It is no gainsaying how tall, Zenith bank has stand out among its contemporaries since he stepped into the big shoes. He has since consolidated on the works of the two previous CEOs of the great institution, Godwin Emefiele, who handed over to him to assume the position of the Governor of Central Bank of Nigeria, CBN; and the founding CEO, Jim Ovia, one of Nigeria’s leading light in banking and finance.
Amangbo In the past five years has not only sustained the impressive trend, he has also stayed the course and improving on it. The figures have spoken volume of his capability so far.
Not only has the bank grown up, the investors are also happy owing to good returns that have come to the traits of the bank under Amangbo. The dividend payout has been upscaled year after year despite the recessionary circumstance under which he assumed leadership of the bank.
The bank paid a dividend of N1.75 per share for both FY2013 and FY2014. One year after he took over, the bank paid N1.80 per share for FY2015 and N2.02 per share for FY2016.
A final dividend of N2.45 per share was paid for FY2017, which in addition to the N0.25 per share earlier paid as interim dividend amounted to N2.70 per share.
An interim dividend of N9.42 billion, being N0.30 per share from the retained earnings account was paid in H1 2018 and final dividend of of N2.50 at the end of 2018 full year.
FINAL DIVIDEND
In 2018, the Zenith Bank Strong earnings’ capacity, growth, solid and liquid capital base which was strengthened by its enterprise risk management practices, good returns on investment and excellent customer service are some of the hallmarks of today’s Zenith Bank under the stewardship of Mr. Amangbo.
Its Gross Earnings between 2014 and 2018 had grown by 56.28 percent from N403.343 billion to N630.344 billion recorded in 2018.
GROSS EARNINGS
Its Profit after Tax (PAT) grew by 94.48 percent between the 5 years period from N99.455 billion recorded in 2014 to N173.791 billion recorded in 2018.
PAT
Zenith Bank under his watch has remained a dominant player in the Nigerian banking industry, a net placer of fund in the industry with most banks running on Zenith Bank’s liquidity and a leader amongst tier-1 category of banks.
Investigations by InsideBusiness revealed that Zenith Bank still controls a significant share of the high end corporate clients in strategic sectors of the economy.
Using its strong Financials and liquidity as well as efficient trade finance processes and services, to continuously grow and support businesses. Amangbo has seen Zenith Bank maintain a strong focus on superior ERM practices.
Consequently, despite the challenging economy which birth a tough operating environment, Zenith bank’s Non-Performing Loan (NPL) ratio came in at 4.9 percent with a coverage ratio of 238.4 percent.
Going by his antecedents, analysts at InsideBusiness are optimistic that the shareholders of Zenith Bank would smile further at end of the 2018 financial audit and dividend season.
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