Zenith Bank Plc has announced plans to extend its operations into Côte d’Ivoire and eight other Francophone African countries following the successful completion of its N614.65 billion hybrid capital raise.
Group Managing Director and CEO, Adaora Umeoji, disclosed this during the closing gong ceremony at the Nigerian Exchange in Lagos. She said the capital raise positioned the bank for accelerated growth and regional expansion.
“Since the capital raise exercise, we’ve been able to use part of the money to expand our footprints. We started by opening our Paris branch, and we are going to move from there to Côte d’Ivoire, which we are already processing the license,” Umeoji said.
She added that the Côte d’Ivoire license would give Zenith Bank passporting rights into eight additional Francophone markets, allowing the bank to follow its customers into high-growth economies.
“This expansion strategy is a result of us following our customers’ business and ensuring that we go to countries and economies where we can scale and provide more returns for our shareholders,” she stated.
The N614.65 billion recapitalization, which was significantly oversubscribed, increased the bank’s capital base by 160 percent. Umeoji said the exercise strengthened the balance sheet and expanded the shareholder base to over 700,000.
Zenith Bank recorded a pre-tax profit of N625.63 billion and a post-tax profit of N532.18 billion for the first half of 2025. Gross earnings rose by 19.96 percent year-on-year to N2.52 trillion, driven mainly by interest income, which accounted for 73 percent of total earnings.
The Board approved an interim dividend of N1.25 per share, representing a 25 percent increase from N1.00 paid in 2024, reaffirming the bank’s commitment to shareholder value as it deepens its regional presence.
