Zenith Bank Shareholders have lauded the management for the 46.7 per cent to N745.1 billion rise in gross earnings recorded at the close of 2017.
This happened during the 27th Annual General Meeting (AGM) of the bank in Abuja last Friday following a declaration of N2.70 dividend per share.
The Financial house recorded a profit of N203.4bn before tax and N177.6bn after tax. One of the shareholders, Chief Timothy Adesiyan, who is an Executive Member of the Nigerian Shareholders Solidarity Association (NSSA), lauded the management in its commitment towards offering quality banking services and also donating about N2.5b for different humanitarian acts as part of the bank’s Corporate Social Responsibility (CSR).
Chief Adesiyan appealed to the management to increase the number of female directors as the bank had 48 per cent female workforce; with only one female as director.
The National Coordinator (Emeritus) of the Independent Shareholders Association of Nigeria (ISAN), Mr. Sunny Nwosu, bemoaned the huge amounts paid by the bank to government regulatory agencies.
“For the past seven years, Zenith Bank has paid N101.1bn to the Asset Management Company of Nigeria (AMCON) and also an additional N68bn to the Nigerian Deposit Insurance Corporation (NDIC); which is outrageous.
“Therefore, we call on CBN to intervene and clarify the separate duties of these agencies in bank regulations,” he added.
