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Shareholders Hail Zenith Bank’s N507.9 Billion Earnings
Shareholders of Zenith Bank Plc yesterday hailed the management and board of the bank for an impressive performance for the year ended December 31, 2016.
The shareholders who spoke at the Annual General Meeting (AGM) in Lagos said the gross earnings of N507.997 billion recorded in 2016, up from N432.535 billion in 2015, was highly commendable considering the challenging operating environment.
They were also highly impressed with the profit before tax of N156.748 billion recorded in 2016, which showed a significant jump above the n125.616 billion in 2015.Similarly, profit after tax rose from N105.531 billion to N129.65 billion.
The elated shareholders approved the final dividend of N55.573 billion for the year, which translates to 177 kobo per share.
Addressing the shareholders, Chairman of the Zenith Bank Plc, Mr. Jim Ovia said despite the challenging operating environment, the bank was able to fully exploit the available opportunities to post the impressive results.
According to him, in line with its commitment to delivering superior returns to its much-valued shareholders, the bank ensured that a good chunk of the profit is set aside for them.
“In this regard, we have declared and paid you an interim dividend of 25 kobo per share in the course of 2016 financial year. We hereby propose a final dividend of 177 kobo per share. This brings the total dividend for the year ended December 31, 2016 to 202 kobo per share as against 180 kobo per share paid the previous year,” Ovia said.
He stated that even in the face of a very challenging operating environment, Zenith Bank has maintained its culture of outstanding performance and industry leadership.
“As a bank, we are monitoring developments both in the local and global economy and applying pragmatism and dynamism as appropriate. Our strategy and approach to the pursuit of financial inclusion and sustainability gives us a lot of competitive advantage to explore even new frontiers in the market,” he said.
Speaking in the same vein, Group Managing Director/Chief Executive Officer of Zenith Bank, Mr. Peter Amangbo said as an institution of well-primed people, the bank relied on a its pool of exceptional staff to make sound and timely decision and addressed issues in a manner that anticipated developments and demonstrated excellent understanding of the dynamics of the market and economy in 2016.
He assured that “We shall continue to demonstrate extraordinary commitment to our customer s while maintaining focus on all the areas fundamental to adding value to our partnership.”
Looking ahead, he said although 2017 will come with its challenges, and opportunities, “but I am confident that our determination, resolve and rare commitment to customer s well as our adaptive ability will ensure resounding results.”
The social scene is already heating up as insiders reveal that popular lifestyle personality,Saidat Aralamo Asabi Balogun popularly known as Omoge Saida, is set to marry her billionaire lover in December — a development that has sent whispers of excitement across London, Lagos and Abuja high society.
According to those close to the stylish socialite, preparations for the much-anticipated ceremony are already underway, with talks suggesting it will be an exclusive, invitation-only affair.
Sources hint that the billionaire, a discreet yet powerful business magnate, has decided to make their relationship formal, in what many tagged a face saving situation from the nude video scandal.
Friends of Saida describe her as glowing, excited as she prepares for what many say is the beginning of a new, lavish chapter in her life.
Details remain tightly guarded, but insiders insist December is locked in — and if the early buzz is anything to go by, Omoge Saida’s wedding may well be one of the biggest society moments of the festive season.
News
All The Shocking Details As PDP Declares Adedamola Osun Flagbearer, Beats Gov Adeleke in Tense Primary
In a dramatic twist that has sent shockwaves through Osun’s political landscape, the Peoples Democratic Party (PDP) has declared Hon. Adebayo Adedamola as its governorship flagbearer after a fiercely contested primary that saw him defeat incumbent Governor Ademola Adeleke.
The keenly watched primary, held amid heavy security and intense party interest, drew party delegates from across the state. What many expected to be a smooth victory for the governor turned into a tightly fought race, with Fryo gaining momentum during delegate consultations and strategic bloc alignments.
According to party officials, Fryo clinched the majority of valid votes after what they described as a transparent, credible, and highly competitive exercise. His supporters erupted in celebration as the final tally was announced, chanting solidarity songs and hailing what they called “a new direction for Osun PDP.”
Adedamola, popularlcy called Fryo is said to be a close ally of APC stalwart, Iyiola Omisore. Fryo was among the people arrested over the killing of late Attorney General, Chief Bola Ige.
Political analysts say the upset signals a significant shift within the party’s power structure, as the result reflects growing agitation for fresh leadership and a repositioning of the party’s influence across local government blocs.
Governor Adeleke, who had sought the party’s ticket to secure a second term, was said to have congratulated Fryo in a closed-door exchange, though members of his camp are still digesting the unexpected outcome.
Fryo, in his acceptance speech, promised to unify the party, consolidate on its achievements, and present a formidable front ahead of the general elections. He described his victory as “a mandate for renewal” and urged party faithful to rally behind him for what he termed the decisive battle ahead.
With this development, all eyes are now on how the PDP navigates the post-primary atmosphere and prepares for a heated governorship election season in Osun State.
Insiders Revealed, Omoge Saida To Marry Billionaire Lover This December
All The Shocking Details As PDP Declares Adedamola Osun Flagbearer, Beats Gov Adeleke in Tense Primary
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