Since his foray into the murky waters of the banking profession, Ebenezer Onyeagwu the Managing Director of Zenith Bank PLC is a near perfectionist whose mission statement is excellence and result-oriented. Ever since his appointment to lead the affairs of Zenith bank; he has never failed in his duties, most especially when the tides were rough during the heat of the Covid-19 pandemic when businesses were shutting down and some were struggling to stay afloat. With his Midas touch of Gold, he was able to sustain the bank’s fortune devising means to maintain the lead as one of Nigeria’s top financial powerhouse declaring profits to its numerous shareholders.
To the chagrin of his traducers, the miracle-working banker has done it again; the bank in its audited half-year financial results presented to the Nigerian Exchange (NGX), declared 2% profit after tax in a tune to over 106 billion naira profit to its shareholders. During the heat of Covid-19, the bank recorded 104 billion Naira but the upgrade in the 2021 first-quarter result shows that Onyeagwu is not relenting on his oars to further ensure the bank remains profitable.
A source disclosed that; “The Group recorded a growth in profit before tax of 3% from NGN114 billion reported in H1 2020 to NGN117 billion in H1 2021. The Group also recorded a 9% growth in non-interest income from NGN116 billion in June 2020 to NGN127 billion in June 2021. Overall, the significant reduction in interest expense by 26% and growth in non-interest income by 9% culminated in improved profitability.”
Under his watch, Zenith Bank was voted as Best Commercial Bank in Nigeria in the World Finance Banking Awards 2021, 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 2021, and Best in Corporate Governance ‘Financial Services’ Africa 2020 and 2021 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 2021, and Number One Bank in Nigeria by Tier-1 Capital in the “2021 Top 1000 World Banks” Ranking by The Banker Magazine.
