Zenith Bank named Nigeria’s most valuable banking brand

Zenith Bank Plc has emerged the most valuable banking brand in Nigeria for the fourth consecutive year.

This is according to the ranking published on Monday by The Banker Magazine of the Financial Times Group in conjunction with London-based Brand Finance.

This comes two months after the bank was named Nigeria’s bank of the year at the 2020 Banker’s Bank of the Year Awards.

According to the publication which ranks the top 500 banking brands globally, brand value is the licensing rate that a third-party would need to pay to use the bank’s brand.

With a value of $275 million, Zenith Bank moved up two places from 392 in 2020 to 390 in the February 2021 edition of the global ranking of banks.

Reacting to the development, Ebenezer Onyeagwu, the bank’s group managing director, said the ranking reaffirms the bank’s commitment to superior performance.

“This ranking is a further affirmation of the bank’s resilience given the very challenging macroeconomic environment brought about by the coronavirus (COVID-19) pandemic,” he said.

“Zenith Bank remains committed to sustaining the superior performance which has earned it this recognition as Nigeria’s most valuable banking brand, thus building on the legacy of its visionary founder and chairman, Mr Jim Ovia, CON, whose pioneering and foundational role in building the structures and laying the foundation ensured an enduring and very successful institution.”

In July, The Banker Magazine named Zenith Bank the number one bank in Nigeria by tier-1 capital in the 2020 Top 1000 world banks ranking.