Zenith Bank expands with new branch in Paris

Zenith Bank Plc has expanded its global footprints with the opening of Zenith Bank (UK), Paris Branch. 

The commissioning was done on Wednesday, November 27, 2024 at 21 Rue de la paix, Paris, France and performed by the 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, according to the bank represents a key milestone in the bank’s global growth strategy and underscores its commitment to serving clients in the European region.

In a statement, the bank said 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. 

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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.

Dignitaries at the ceremony included Kwara State Governor and Chairman, Nigeria Governors’ Forum (NGF), AbdulRahman AbdulRazaq; Governors of Lagos, Ogun and  Enugu, Babajide Sanwo-olu; Dapo Abiodun and Peter Mbah respectively.

Others were Chairman, BUA Group, Abdul Samad Rabiu; 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.

The Group Managing Director/Chief Executive of Zenith Bank, Dame (Dr.) Adaora Umeoji, explained that the opening of the branch was strategic as Nigeria accounts for 20 per cent France’s trade with the sub-Saharan Africa.

She thanked the Founder & Chairman, Dr. Jim ovia, CFR, for his inspiration and vision in setting up an award-winning and record-breaking brand. 

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.”

President and Chief Executive of Dangote Group,Alhaji Aliko Dangote said, “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, said, “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 endeavor, 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, 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. 15 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 endeavor 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!”