Zenith Bank Plc has again emerged as the Most Valuable Banking Brand in Nigeria with a market capitalisation of $1.62 billion and a brand value $287 million, the recently released Banker Magazine Top 500 Banking Brands 2020 revealed. With this development, the lender for the third consecutive year has been ranked as the number one banking brand in Nigeria, however, settled for spot 392 in 2020 global ranking of banks.
According to the February edition of The Banker magazine of the Financial Times Group in conjunction with London-based Brand Finance, brand value is the licensing rate that a third-party would need to pay to use the bank’s brand. “All brand values in the report is for the year ending December 31, 2019. 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, with a knack for setting the pace and raising benchmarks, is a clear leader in the digital space with several firsts in the deployment of innovative products, solutions and an assortment of alternative channels that ensure convenience, speed and safety of transactions”, it stated.
Meanwhile, Zenith Bank, who recently announced an impressive result for the year ended December 31, 2019, declared a Profit After Tax (PAT) of N208.8 billion, achieving the feat as the first Nigerian Bank to cross the N200 billion mark. Consistent with this excellent performance and in recognition of its track record of exceptional performance, Zenith Bank was voted as the Best Commercial Bank in Nigeria 2019 by the World Finance and the Best Digital Bank in Nigeria 2019 by Agusto & Co.
The bank was also recognised as Bank of the Year and Best Bank in Retail Banking at 2019 BusinessDay Banks and Other Financial Institutions (BOFI) Awards. Most recently, the bank emerged as the Bank of the Decade (People’s Choice) at the Thisday Awards 2020.
This news was Culled from Daily Times. Click here to view more.
