Shareholders have nothing to worry about in terms of dividend payouts for the 2025 financial year, Zenith Bank Plc has assured.
In a statement, the tier-1 lender said it should satisfy all relevant conditions to exit the regulatory forbearance of the Central Bank of Nigeria (CBN) by June 30, 2025.
Recall that the central bank asked banks to suspend payment of dividends to shareholders until they quit the forbearance.
This directive triggered panic in the stock market, resulting in investors trimming their exposure to banking equities, though things improved yesterday.
In a notice to the Nigerian Exchange (NGX) Limited, Zenith Bank clarified that its exposure under the Single Obligor Limit (SOL) forbearance relates solely to a single obligor, pointing out that this exposure will be brought within the applicable regulatory limit on or before June 30, 2025.
The bank also confirmed that the forbearance granted on other credit facilities applies to only two of its customers, noting that it has made substantial provisions in respect of these facilities and taken appropriate and comprehensive steps to ensure full provisioning by June 30, 2025.
The financial institution further emphasized its strong financial footing, stating that it has successfully raised and surpassed the new regulatory capital requirement of N500 billion, and is therefore well positioned to continue delivering value to all its key stakeholders.
Zenith Bank has continued to distinguish itself in the Nigerian financial services industry through superior service offering, unique customer experience and sound financial indices.
The bank has remained a clear leader in the digital space with several firsts in the deployment of innovative products, solutions and an assortment of alternative channels that ensure convenience, speed and safety of transactions.