Nigeria’s richest banker Jim Ovia’s Zenith Bank posts $363-million profit in H1 2024
Zenith Bank's half-year profit surges 98%, bolstered by robust interest income and trading income growth
Zenith Bank's half-year profit surges 98%, bolstered by robust interest income and trading income growth
The uptick comes after a previous decline, during which his stake in Zenith Bank fell by $13.3 million between April 25 and May 2
Ovia maintains his position as Nigeria’s richest banker, highlighting his lasting success as a prominent business leader in the country.
As Africa charts a course toward economic convergence and regional cohesion, initiatives like the SMARTAfCFTA Portal serve as catalysts for progress.
Building on a record-breaking 2023, when profit rose 202.3 percent to N676.91 billion ($522.03 million), Zenith Bank’s Q1 2024 profit jumped 291.35 percent year-over-year.
Despite this short-term setback, Ovia retains his position as Nigeria’s richest banker, underscoring his enduring success as a prominent businessman in the country.
Ovia, who holds a 16.18-percent stake in Zenith Bank, equivalent to 5,072,104,311 shares, stands to receive N17,752,365,089 ($12,771,215).
This strategic shift positions Zenith Bank to adapt and thrive in the ever-evolving financial services ecosystem, solidifying its position as a leader in innovation and value creation.
With Ovia in charge, the fund aims to remove financial barriers hindering students’ educational ambitions.
Despite this setback, Ovia retains his status as Nigeria’s richest banker, underscoring his success as a leading businessman in the nation.
The record dividend payout underscores its unwavering dedication to shareholder value and its position as a top player in Nigeria’s banking sector.