Zenith Bank has been adjudged the country’s 2017 Bank of the Year by the UK based international finance magazine –The Banker.
According to the publication, although Ghana’s economy witnessed a rather low but improved growth over the last one year, Zenith Bank’s profitability remained on the rise.
It said during the 2016/2017 financial year, the bank’s net profits grew by about 76%; total assets - 34% and Tier 1 capital - 32%, respectively.
More so, Zenith Bank’s year-on-year Return on Equity (RoE) rose to 40% from 29% recorded in the previous year alongside, a cost-to-income ratio decrease from 44% to 40% during the period.
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Commenting on the development – Managing Director of Zenith Bank Ghana, Henry Oroh pointed out that the institution, “prides itself with the creation of a reputation for excellent customer service and a respectable corporate governance culture. Consequently, our balance sheet has grown by 45% year on year and we have maintained a customer retention rate of 99.97%â€.
He noted that this culture and best industry practices is what has contributed to its success and attracting the various awards or recognitions across the globe.
Mr Oroh pledged the bank’s commitment to continue its engagement with, “customers and focus on initiatives that will position it as a market leader in the Ghanaian banking industryâ€.