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ZENITH BANK DELIGHTS SHAREHOLDERS WITH DIVIDEND PAYOUT OF N3 PER SHARE

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Zenith Bank’s shareholders, on Tuesday at the 30th Annual General Meeting of the Bank held at
the Civic Centre, Victoria Island, Lagos, unanimously approved the proposed final dividend of
N2.70 per share, bringing the total dividend payment for the 2020 financial year to N3.00 per share
with a total value of N94.19 billion. This followed the recent release of the Bank’s audited financial
results for the 2020 financial year.
From the audited financial results, the Group recorded a year-on-year growth of 10% in profit after
tax (PAT) from N208.8 billion recorded in 2019 to N230.7 billion. This is despite a challenging
macroeconomic environment exacerbated by the COVID 19 pandemic.
The Group also recorded a growth in gross earnings of 5% from N662.3 billion in the previous year
to N696.5 billion. The Group also recorded 8% growth in non-interest income from NGN232.1
billion in 2019 to NGN251.7 billion in 2020 and a 1% increase in interest income from NGN415.6
billion in 2019 to NGN420.8 billion in 2020.
Profit before tax (PBT) equally increased by 5%, growing from N243.3 billion in 2019 to N255.9
billion in the current year. The increase arose from a combination of growth in the topline and a
significant reduction in interest expense. Interest expense reduced from N148.5 billion in 2019 to
N121.1 billion in 2020, significantly increasing the net interest income from NGN267.0 billion in
2019 to NGN299.7 billion in 2020.
The Group’s increased retail activities translated to a corresponding increase in retail deposits and
loans. Thus, retail deposits grew by NGN612.7 billion from NGN1.11 trillion to NGN1.72 trillion
year-on-year (YoY), while savings balances significantly grew by 88% YoY and closed at NGN1.16
trillion. This retail drive, coupled with the low-interest yield environment, helped reduce the cost of
funding from 3.0% to 2.1% and reduced interest expense. However, the low-interest environment
also affected the net interest margin, which declined from 8.2% to 7.9% in the current year due to
the re-pricing of interest-bearing assets. Operating costs grew by 10% YoY but are still tracking
well below inflation which at the end of the year stood at 15.75%. Although returns on equity and

assets also reduced from 23.8% to 22.4% and from 3.4% to 3.1%, respectively, the Group still
delivered improved Earnings per Share (EPS), which grew 10% from NGN6.65 to NGN7.34 in the
current year.
The Group also increased corporate customer deposits, which alongside the growth in retail
deposits, delivered total deposit growth of 25%, to close at N5.34 trillion, driving growth in market
share. Total assets also increased significantly by 34%, from N6.35 trillion to N8.48 trillion. Despite
the COVID-19 pandemic and its associated challenges, the Group created new viable risk assets
as gross loans grew by 19%, from N2.46 trillion to N2.92 trillion. This was achieved while
maintaining a stable and low overall NPL ratio of 4.29% (2019: 4.3%) across the entire portfolio
and an increase in the cost of risk from 1.1% to 1.5%, reflecting the elevated risk environment in
2020. The Group recorded impressive liquidity and capital adequacy ratios of 66.2% and 23.0%
and remained above regulatory thresholds of 30% and 15%, respectively.
As a testament to this superlative performance and in recognition of its track record of excellent
performance, Zenith Bank was voted as Bank of the Year (Nigeria) in The Banker’s Bank of the
Year Awards 2020, Best Bank in Nigeria in the Global Finance World’s Best Banks Awards 2020
and Best Corporate Governance ‘Financial Services’ Africa 2020 by the Ethical Boardroom. Also,
the bank emerged as the Most Valuable Banking Brand in Nigeria, for the fourth consecutive year,
in the Banker Magazine “Top 500 Banking Brands 2021” and Number One Bank in Nigeria by Tier-
1 Capital in the “2020 Top 1000 World Banks” Ranking published by The Banker Magazine.
Similarly, the bank was recognised as Bank of the Decade (People’s Choice) at the ThisDay
Awards 2020, Retail Bank of the year at the 2020 BusinessDay Banks and Other Financial
Institutions (BOFI) Awards, and Best Company in Promotion of Good Health and Well-Being as
well as Best Company in Promotion of Gender Equality and Women Empowerment at the
Sustainability, Enterprise and Responsibility (SERAS) Awards 2020.
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ZENITHBANKCHAMPIONSTRADEANDINVESTMENTAT6THCANADA-AFRICABUSINESS CONFERENCE

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  • ZenithBankPlcreaffirmeditscommitmenttoadvancingtrade,investmentandeconomiccooperation
    betweenCanadaandAfricaastheHeadlineConferenceSponsorofthe6thCanada-AfricaBusiness
    Conference, held on Wednesday, 24 June 2026 at Eko Hotel & Suites, Victoria Island, Lagos.
    OrganisedbytheCanada-AfricaChamberofBusiness,theconferencebroughttogetherahigh-level
    Canadian business delegation representing 31 companies, alongside senior government officials, business
    leaders, investors, policymakers, diplomats and development partners. The gathering set out to strengthen
    commercial relations between Canada and Africa and to position Nigeria as a strategic gateway for Canadian
    businesses seeking opportunities across the continent.
    The Canadian delegation comprised companies and institutions operating across financial services, security,
    mining andcritical minerals,legal andprofessional services, infrastructure, technology, healthcare, education
    and clean energy. Among those present were GardaWorld, Dentons, Baywood Group, Element, Trilliant and
    other leading Canadian enterprises exploring commercial opportunities and strategic partnerships in Nigeria.
    The Executive Director of Zenith Bank Plc, Mr. Akin Ogunranti, who delivered the keynote address on behalf
    of the Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, described the conference as a timely
    platform for deepening commercial partnerships between Canada and Africa amid shifting global economic
    realities. He underscored Africa’s readiness to lead the next phase of global economic growth, stressing that
    thecontinent now possessestheinstitutions,policy frameworks andpartnershipsrequiredtoturn its immense
    potential into shared prosperity.
    “The question is not whether Africa is rich in potential. It is whether we can turn that potential into prosperity
    our people can feel. For the first time, the answer is yes, because of the machinery we are now building,” he
    said.
    RepresentingtheGovernorofLagosState,HisExcellencyMr.BabajideSanwo-Olu,thePermanent
    Secretary, Ministryof Commerce, Cooperatives, Trade andInvestment, Mr. Babatunde Onigbanjo,reaffirmed
    the State Government’s commitment to fostering an enabling environment for investment and international
    partnerships, and highlighted Lagos’ position as Nigeria’s commercial hub and gateway to African markets.
    “Canada bringstothe tableconsiderable expertise,capital, innovation,and astrong traditionof institution
    building.Africa,andindeedLagos,offerscale.Weoffertalent,creativity,marketopportunitiesandan
    increasingly sophisticated business environment. Together, these strengths create a compelling foundation
    for transformative partnership,” he said.
    Speaking at the event, the Deputy High Commissioner of Canada to Nigeria, Mr. Carlos Rojas-Arbulú, noted
    thattheconferencereflectsthegrowingmomentuminbilateralcommercialcollaborationbetweenboth
    countries. He said: “The relationship between Canada and Nigeria is not new. It is rooted in diplomacy, trade,
    education,culture,migration,andshareddemocraticvalues.Buttoday,Ibelieveweareenteringanew
    chapter: one that is more ambitious, more practical, and more human.”
  • TheChairoftheBoardoftheCanada-AfricaChamberofBusiness,PaulaCaldwellSt-Onge,highlighted
    Nigeria’sgrowing economic significance,saying: “Nigeria’s growth isnot theoretical.It is alreadybeing built by
    Nigerian entrepreneurs, investors, financial institutions, innovators and companies whose ambition reaches
    across Africa and around the world.”
    She also acknowledged Zenith Bank’s role in advancing the conference’s objectives, stating: “Zenith Bank is
    not only oneof Africa’s leadingfinancial institutions, it isthe capital behindwhat you seehere today, and it
    represents the skill, ambition, discipline, innovation and excellence that this conference seeks to showcase.”
    Theconferencefeaturedhigh-levelpaneldiscussionsonCanada-Africacommercialrelations,investment
    opportunitiesacrossprioritysectors,andtheimplementationoftheAfricanContinentalFreeTrade Area
    (AfCFTA). The sessions brought together policymakers, business executives and industry experts to identify
    practicalpathwaysforstrengtheningcommercialpartnershipsandacceleratingsustainableeconomic
    development.
    The conference is expected to strengthen Nigeria’s attractiveness as a destination for Canadian investment,
    while opening new opportunities for technology transfer, private sector collaboration, job creation and long-
    termeconomicgrowth.ItalsoreinforcesNigeria’spositionasastrategichubforbusinessesseekingto
    access opportunities across Africa under the AfCFTA, supporting the country’s ambition to expand its role in
    regional and global trade.
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HabariPay Launches Maiden “HabariPay Impact Report 2025”, Showcasing Its Journey, Business Evolution, and Contributions to Digital Payments

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HabariPay Limited, the fintech subsidiary of Guaranty Trust Holding Company Plc (“GTCO” or the “Group”), has unveiled its maiden HabariPay Impact Report 2025, providing stakeholders with a comprehensive account of the company’s evolution, innovation journey, business performance, and impact on the digital payments landscape.The report captures HabariPay’s transformation from a newly established fintech venture into one of Nigeria’s leading payment infrastructure providers, highlighting the milestones, strategic decisions, and investments that have shaped its growth. It showcases the company’s contributions to enabling digital commerce, supporting businesses, strengthening payment infrastructure, and expanding financial access through technology-driven solutions.The HabariPay Impact Report 2025 also highlights the company’s strong financial and operational performance, the growth of the Squad platform, and the development of infrastructure that powers payment acceptance, switching, transfers, merchant services, and value-added solutions. The publication further explores the role of innovation, talent development, and ecosystem partnerships in driving the company’s success.Speaking on the launch of the report, the Managing Director of HabariPay, Eduofon Japhet, said: “As a technology-driven company, we believe that impact extends beyond financial performance. It is reflected in the businesses we enable, the merchants we support, the infrastructure we build, and the opportunities we create for the next generation of innovators. The HabariPay Impact Report 2025 captures this journey and demonstrates our commitment to creating sustainable value for customers, partners, and the broader economy.”She further added: “The HabariPay Impact Report 2025 represents more than a reflection on our achievements; it is a testament to the deliberate investments we have made in building sustainable payment infrastructure, empowering businesses, fostering innovation, and creating long-term value for our stakeholders. As we look ahead, we remain committed to expanding our capabilities, deepening our impact, and shaping the future of digital payments through technology-driven solutions that are secure, scalable, and inclusive.”The report also showcases HabariPay’s investments in innovation through initiatives such as the Take on Squad Hackathon and the Squad Hackademy, both of which are helping to develop future technology talent and accelerate the creation of practical solutions to real-world challenges.Looking ahead, the publication outlines HabariPay’s vision for the future, including continued investment in payment infrastructure, merchant solutions, digital innovation, and intelligent technologies that will shape the future of financial services.
To access the HabariPay Impact Report 2025, please click the below: https://squadco.com/impact-report/About HabariPayHabariPay Ltd is the fintech subsidiary of Guaranty Trust Holding Company Plc (GTCO), one of the largest financial services institutions in Africa with direct and indirect investments in a network of operating entities located in 10 countries across Africa and the United Kingdom.Licensed by the Central Bank of Nigeria (CBN), our goal is to support SMEs, micro merchants, large corporations, and other fintechs (Tech Stars) with the tools they need to thrive in an evolving digital economy and expand beyond their current market reach. HabariPay’s solutions include Squad, a full-scale digital payments toolkit to make in-person and online payments simpler, HabariPay Storefront, an e-commerce website to facilitate online purchases, Value-Added Services to help merchants access cost-effective and flexible airtime and data bundles to run their businesses, as well as a switching infrastructure that enables tech-focused businesses to optimise cost and make transactions more efficient.HabariPay’s contributions to Accelerating Digital Acceptance in Africa have not gone unnoticed–it received Mastercard’s Innovative Mobile Payment Solution Award at TIA 2022 for its innovative payment solution, SquadPOS.

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ZENITHBANKPARTNERSLAWMA,LASWATOCOMMEMORATEWORLDENVIRONMENT DAY 2026 WITH TWO-PHASE LAGOS CLEAN-UP

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Inlinewithitscommitmenttoenvironmentalsustainabilityandresponsiblebusinesspractices,
ZenithBankPlchascommemoratedthe2026WorldEnvironmentDaywithatwo-phase
environmental clean-up initiative in LagosState, held under theglobal theme “Inspired by Nature.
For Climate. For Our Future.”
The first phase was a morning clean-upconducted by staff of the Bank on Wednesday,3 June
2026, along Ajose Adeogun Street, Victoria Island, Lagos. The exercise mobilised employees to
clear waste, sensitise residents on proper disposal practices, and reinforce the Bank’s culture of
community service and environmental stewardship.
Thesecondphase,onThursday,4June2026,featuredawaterwaysclean-upattheFalomo
Waterways, Ikoyi, Lagos, executed in collaboration with the Lagos Waste Management Authority
(LAWMA)andtheLagosStateWaterwaysAuthority(LASWA).Thejointeffortfocusedon
removingmarinedebris,promotingcleanerwaterways,andsupportingtheState’sbroader
climate-resilience agenda.
Speakingontheinitiative,DameDr.AdaoraUmeoji,OON,GroupManagingDirector/CEOof
Zenith Bank Plc, said: “At Zenith Bank, sustainability is integral to how we operate. Clearing our
streetsandourwaterwaysisapracticalreminderthatprotectingtheenvironmentisashared
responsibility – and one we are proud to take up alongside LAWMA and LASWA. Through these
exercises, we aretaking deliberate action topreserve our communities,support climate action,
andinspireotherstoact.Ouroperationswillcontinuetoalignwithglobalenvironmental
standards as we build a more sustainable future for Nigeria and Africa.”
ZenithBankremainscommittedtoembeddingEnvironmental,SocialandGovernance(ESG)
principles across its operations, investing in green initiatives, energy efficiency, and community-
focused programmes. These efforts advance the United Nations Sustainable Development Goals
–particularlySDG7(AffordableandCleanEnergy),SDG11(SustainableCitiesand
Communities)andSDG13(ClimateAction).Sustainabilityremainsanoperationalimperative
across the Bank’s Nigerian base and its broader African, UK and European footprints
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