The Zenith Bank head office adorned with Christmas lights
Zenith Bank has held the 2024 Light-Up and Carols Night ceremony in Accra to usher in the festive season.
The ceremony, a tradition that has been held since 2018, saw staff and management of the bank coming together to celebrate hope and the enduring light that unites people.
Managing Director (MD) and CEO of Zenith Bank Ghana, Henry Onwuzurigbo, speaking at the event said the ceremony reflects the strong bond between the bank and the community it proudly serves.
“As we light up Zenith Heights and the Kotoka International Airport enclave tonight, let these lights serve as a symbol of hope, unity and the promise of a brighter tomorrow and let these remind us of the resilience we have shown and the aspirations we carry into the New Year,” he encouraged.
Gratitude
He also used the ceremony to voice his deepest gratitude to the board for their visionary leadership, valued customers for their loyalty and support, and the dedicated and committed team members for their tireless efforts.
He also expressed his appreciation to the media and all stakeholders for their untiring support, adding that, the achievements which are stepping stones to an even brighter future for the bank would not have been possible without them.
Profit
Mr. Onwuzurigbo indicated that, despite the challenges faced in 2024, the year has been exceptionally successful, marking a notable milestone in their journey.
He reported that there has been a significant 56% growth in total customer deposits, increasing from GH¢10.2 billion as of September 2023 to GH¢15.9 billion as of September 2024.
According to him, this substantial expansion underscores the efficiency of the strategic deposit mobilisation initiatives and reflects heightened customer confidence in the banking operations.
Remarkably, he said the bank has recorded a significant 62% year-on-year growth in net loans and advances, rising from GH¢2 billion in September 2023 to GH¢3.3 billion in September 2024 and this increase was primarily due to new facilities given to customers as part of the bank’s strategic drive to expand into new Small and Medium Enterprise (SME) and retail markets.
Mr. Onwuzurigbo further stated that, the bank’s Profit Before Tax (PBT) also grew from GH¢735 million in September 2023 to GH¢882 million in September 2024 indicating continuous improvement in the bank’s financial performance on a yearly basis.
“However, it is expected that the bank will continue on this trajectory to end 2024 with an incremental Profit Before Tax over that of 2023”, he said.
Awards Received
He further noted that the bank received widespread recognition for its innovative products and services, earning numerous prestigious awards.
Notably, these awards, he said, includes; Bank of the Year Ghana (The Banker Awards), Best Bank in Ghana and Best SME Partner Bank (The European Awards), Best Mobile Banking App and Best Financial Inclusion Service Provider (Digital Banker Africa Awards), and Technology-Driven Bank of the Year (Ghana Information Technology and Telecom Awards).
“These recognitions demonstrate our commitment to excellence and innovation in banking,” he commented.
Stronger Bonds
Mr. Onwuzurigbo highlighted that to support the financial inclusion and development agenda of the country, the bank’s strategic partnerships with the African Guarantee Fund and Development Bank Ghana, has resulted in the disbursement of approximately GH¢202,790,000 in loans.
“The lower interest rates charged on these loans has expanded customer businesses and supported women-owned and women-led businesses with reduced fees and security requirements,” he added.
Moreover, he stressed that in demonstration of the bank’s commitment to expanding its outreach and taking its services closer to communities, three branches where established this year at Madina, Techiman and Ashaiman.
A Business Desk Report