Zenith Bank Denies Acquisition Plans for Kenyan Bank Amidst Impressive Financial Growth

Zenith Bank has refuted claims of planning to acquire Paramount Bank in Kenya, emphasizing that no transaction has been approved or initiated. The bank's Gross Earnings for 2024 reached N3.97 trillion, showing an 86% increase from the previous year.

Zenith Bank attributes its growth to a rise in interest income, investments in high-yield government securities, and the expansion of its loan portfolio. The bank's Profit Before Tax (PBT) also saw a significant increase, climbing to N1.3 trillion in 2024.

Zenith Bank aims to maintain transparency and adherence to statutory reporting standards amidst its pursuit of regional expansion.