Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Mr. Peter Amangbo, has promised that despite the tight economic situation in the country that his bank will achieve a good financial result in the current year.
The CEO who made this commitment while answering questions from shareholders during its recent Annual General Meeting in Lagos said as an institution the bank relies on its pool of exceptional staffers,saying that its good performance in the previous year owes to the fact that it took timely decisions that anticipated developments in the economy in 2016.
According to him Zenith will also record credible financial results in the on-going year of 2017 which is full of challenges and opportunities, “but I am confident that our determination, resolve and rare commitment to our customers… will ensure resounding results.”
Shareholders of the Zenith Bank approved a final dividend of N55.573 billion for the year ended December 31, 2016, bringing the total payout to N63.422 billion -having paid an interim dividend of N7.849 billion earlier.The shareholders praised the board, management and staff for growing its profit after tax by 23 per cent from N105.531 billion in 2015 to N129.65 billion in 2016. It ended the year with gross total assets N4.739 trillion, up from N4 trillion in 2015.
Addressing the shareholders, Chairman of the bank, Jim Ovia, said in spite of the challenging operating environment, Zenith was able to exploit the available opportunities to post an impressive result.According to him, Zenith Bank has maintained its culture of outstanding performance and industry leadership,saying“Our strategy and approach in pursuit of financial inclusion and sustainability gives us a lot of competitive advantage to explore even new frontiers in the market.”
As he posited, “In line with its commitment to delivering superior returns to its much-valued shareholders, the bank ensured that a good chunk of the profit is set aside for them. In this regard, we have declared and paid you an interim dividend of 25 kobo per share in the course of 2016 financial year. We hereby propose a final dividend of 177 kobo per share. This brings the total dividend for the year ended December 31, 2016 to 202 kobo per share as against 180 kobo per share paid the previous yea