Umeoji: Zenith Bank under no pressure to raise additional capital

Zenith Bank's Group Managing Director and CEO, Adaora Umeoji, reiterated the bank's commitment to maintaining a solid financial position during the bank's Annual General Meeting. Umeoji made it clear that the bank is currently not under any pressure to raise additional capital, emphasizing that Zenith Bank boasts a remarkable 160 percent capital adequacy ratio and has a substantial 560 billion naira subscription on its books. The CEO assured stakeholders of enhanced dividend payouts in the future, citing the bank's track record of consistently increasing dividend payments over the years. Umeoji stated, 'If you look at our focus, for us in Zenith Bank, we are focusing on running a very sustainable institution, very efficient and sustainable institution that's very resilient. Our focus is to make sure that we are very resilient and run an institution that will leave all of us generations to come.' She further elaborated on the bank's strong financial position, mentioning that the completion of the recapitalization exercise has fortified Zenith Bank with a robust capital buffer. Umeoji expressed optimism about satisfying shareholders' expectations by ramping up dividend payouts, assuring them of Zenith Bank's commitment to delivering value. The CEO's remarks underscore the bank's strategic approach to financial management and commitment to safeguarding shareholder interests.