20 January 2010

Gambia: Zenith Bank Starts Operations

Zenith Bank (Gambia) Limited is a subsidiary of Zenith Bank PLC, a Nigerian bank, on Monday, 18 January 2010, opened its doors to the Gambian public. On Wednesday 30 December, 2009, Zenith Bank received a Banking Licence from the Central Bank of the Gambia, bringing the total number of commercial banks in the country to 14.

In a statement issued by the bank to mark its opening the bank boast of being "giant and one of Africa's biggest commercial banks."

"Established in May 1990 and commencing operations in July of the same year, Zenith Bank PLC ranks amongst the leading and most profitable banks in Nigeria, raking in profit after tax of over $100m in the third quarter of 2009," the statement asserted.

According to the statement, Zenith Bank seeks "to develop deeper and broader relationships with all our clients and it also strives to understand their individual and industry peculiarities with a view to developing specific solutions for each sector of our customer base, using our robust technology platform and excellent service delivery.

"We hope to expand our business through the establishment of key subsidiaries for the provision of non-bank financial services to accentuate the service offerings and experience of our customers, whilst continually enhancing our processes and systems platforms to deliver new capabilities and improve operational efficiencies and achieve economies of scale."

The bank also boasts of having "over 300 branches and business offices in Nigeria alone, as well as tentacles spread across Africa and the United Kingdom."

The statement also lists down the following awards and accolades made to the bank: Best Global Bank (2008) from African Bankers Award; Best Bank in Nigeria (2008) from Euromoney; Best Bank in ICT (2008), Best Bank in Export Finance (2008) from Vanguard Bankers' Award; Bank of the Year 2008, Corporate Citizen of the Year 2008, CEO of the Year 2008, Most Corporate Socially Responsible Company in Nigeria 2007, from This Day Award of Excellence; Most Customer-Focused Bank (2008) from KPMG; Africa's Bank of the Year (2007) from Africa Investor; Quoted Company of the Year (2007) from Nigeria Stock Exchange (NSE); Most Corporate Socially Responsible Bank in Africa (2007) from African Banker; Best Collecting Bank (2007) from Federal Inland Revenue Service; AAA Ratings for 10 years from Agusto &Co.

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