First Edition of the Tastemakers Wine Series Hosted by Vendease

Banking

The Central Bank approves holdco status of Zenith Bank.

The Central Bank of Nigeria has approved in principle for Zenith Bank to operate as a financial holding company.

In a statement signed by the Company Secretary, Michael Otu, on Friday, the bank revealed plans to change its organisational structure.

With this change, the organisation will have a banking subsidiary along with other subsidiari

Part of the statement read, “The CBN has granted approval-in-principle for Zenith Bank to operate a non-operating financial holding company structure.

“Furthermore, the CBN approved Mr Jim Ovia as the Chairman of Zenith Holdco Plc (in-formation and for Mr Jim Ovia to also continue as the Chairman of Zenith Bank until the commencement of Zenith Holdco.”

This move will increase the number of banks operating as financial holding companies in the country.

 

Related posts
Banking

Bidvest Group Begins Search for Bidvest Bank Buyer, Aiming to Minimize Retrenchments

Banking

"UBA provides assistance to micro, small, and medium enterprises (MSMEs)."

Banking

Zenith Bank leads Nigerian lenders in new global ranking

Banking

Expert tasks CBN on exploitative bank charges

Sign up for our Newsletter and
stay informed

Leave a Reply

Your email address will not be published. Required fields are marked *