Zenith Bank Plc has expanded its global footprints with the recent commissioning of Zenith Bank (UK), Paris Branch. The official commissioning, which took place on Wednesday, November 27, 2024 at 21 Rue de la paix, Paris, France was performed by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
The opening of Zenith Bank, Paris, a Third-Country Branch (TCB) of Zenith Bank (UK)
Limited, a subsidiary of Zenith Bank Plc, represents a key milestone in the bank’s global growth
strategy and underscores its commitment to serving clients in the European region.
Dignitaries at the event include Governor, Kwara State and Chairman, Nigeria Governors' Forum
(NGF), His Excellency, AbdulRahman AbdulRazaq; Governor, Lagos State, His Excellency, Mr.
Babajide Sanwo-olu; Governor, Ogun State, His Excellency, Adedapo Abiodun; Governor,
Enugu State, His Excellency, Dr. Peter Mbah; Minister of Finance and Coordinating Minister of
the Economy, Mr. Wale Edun; President, Dangote Group, Alhaji Aliko Dangote; Chairman,
BUA Group, Abdul Samad Rabiu; Honourable Minister of State for Finance, Dr. Doris Uzoka-
Anite; Chief Executive Officer/Executive Secretary, Nigerian Investment Promotion
Commission (NIPC), Aisha Rimi and Executive Director/Chief Executive Officer, Nigerian
Export Promotion Council (NEPC), Nonye Ayeni, who joined Zenith Bank Executives in
celebrating this significant milestone.
The event highlighted the bank’s commitment to
delivering exceptional financial solutions and fostering economic growth across the globe.
In her welcome address, the Group Managing Director/Chief Executive of Zenith Bank, Dame
(Dr.) Adaora Umeoji, thanked the Founder and Chairman of Zenith Bank Plc, Dr. Jim ovia, for
his inspiration and vision in setting up an award-winning and record-breaking brand.
Umeorji who highlighted the rationale for the bank’s strategic move to Paris, said “The opening
of this Paris branch is part of the broad strategy of the Bank to extend its footprints across the
major global financial centres and our efforts at following our customers’ businesses. Paris
branch opening underpins the need to serve our customers and bolster trade and finance
relationship between our customers in France and other countries”.
She added that: “Zenith Bank’s expansion into France is a very strategic move as Nigeria accounts for 20% of France’s
trade with Sub-saharan Africa according to the Franco-Nigeria Chamber of Commerce and
Industry (FNCCI). Having successfully dominated large parts of Anglophone Africa, we will
leverage Zenith Bank Paris operations to lead the Francophone market starting from Ivory Coast
and Cameroun where we will be establishing subsidiaries very soon. This will facilitate business
and trade flows between the African region and France, which is a major business partner to
several African countries.”
Speaking at the event, Honourable Minister of Finance and Coordinating Minister of the
Economy, Mr. Wale Edun, said, “I feel that one of the dividends of building trust for Nigerian
institutions around the world is this event today – the opening of Zenith Bank in Paris. The
presence of Zenith here can only but help to engender trust of the French business community.
They can learn about the opportunities in Africa, and of course, the entry into Nigeria can be
facilitated. We are happy and we are glad that we are all here to participate in this historic
occasion.”
President and Chief Executive of Dangote Group, Alhaji Aliko Dangote, congratulated the bank
for the milestone achievement. Expressing his optimism for this strategic initiative, he said, "I
really want to congratulate Zenith Bank for achieving this feat by opening a branch here in Paris.
I can guarantee you, without the likes of Zenith Bank and other Nigerian banks, we as a group,
wouldn’t have been where we are today because there is no country that can grow without a very
strong banking sector."
Director General of the Treasury, France, Bertrand Dumont, commented: "This is a crucial asset
when it comes to doing business between our two countries, or when it comes to doing business
between our two continents. So, I would like to wish you the best in this endeavour, in this
creation, and I hope that in the coming months or the coming year, you will invite me again for
the integration of larger buildings as a sign of the success that you would have encountered.”
The Chairman, France-Nigeria Business Council (FNBC), Mr. Aigboje Aig-Imoukhuede, in his
remark said, “15 years ago, Dr. Jim Ovia, then as the CEO of Zenith Bank welcomed me as CEO
Access Bank into the UK to join him and other banks that had blazed the trail in opening banking
businesses in the UK. Fifteen years later, to the glory of God, your young brother in banking
welcomes you to Paris with pride on the significance of this occasion. Such intentional
leadership, such partnership and collaboration speaks to the nature of endeavour that we at the
France-Nigeria Business Council are trying to drive. So, on behalf of the French people, I simply
say to Zenith Bonne Arrivee!”
The opening of Zenith Bank, Paris followed the granting of the final approval by France’s
banking regulator, the Autorité de Contrôle Prudentiel et de Résolution (ACPR), in September
2024, allowing the branch to commence operations. Earlier in November 2023, Zenith Bank
strengthened ties with France by signing a Memorandum of Understanding (MoU) with the
French Government to establish a subsidiary in France. The MoU was signed in Lagos by the
Founder and Chairman of Zenith Bank Plc, Dr Jim Ovia, and the French Minister for Trade,
Attractiveness and French Nationals Abroad, Mr. Olivier Becht during the French envoy’s visit
to Nigeria.
Zenith Bank, Paris is positioned as a global financial hub for strengthening trade, accelerating
trade flows and facilitating connectivity between Europe and Africa. The branch will provide a
wide range of services currently being offered by the UK home-office including corporate
banking, trade finance and treasury services to individuals and corporate clients in France and
the wider European market. The branch will also leverage the bank’s strong global network and
expertise to provide tailored solutions to its clients.
