Nigerian banks: Zenith – carefully does it

By:
Dominic O’Neill
Published on:

Zenith CEO Godwin Emefiele
Zenith is the biggest of the generation of Nigerian banks set up after 1990. By assets and market capitalization, it has risen to the second-biggest listed bank in the country – if largely thanks to the demise of Oceanic Bank and the recent sluggishness of UBA.

Others attribute Zenith’s position partly to building branches in business districts, then deploying funds in liquid assets and loans to the safer local corporations. Indeed, in...