Zenith Bank boss assures shareholder of improve performance

L-R: Mr. Oscar Onyema, Chief Executive Officer, The Nigerian Stock Exchange (NSE) presenting the replica of the closing gong to Mr. Ebenezer Onyeagwu, Group Managing Director/CEO, Zenith Bank Plc during the Closing Gong Ceremony in commemoration of his appointment as the new GMD of the bank at the Exchange.

The new management of Zenith Bank Plc has reassured the capital market community of improve financial performance and shareholders’ value.
The new Group Managing Director/Chief Executive Officer of the bank, Mr. Ebenezer Onyeagwu made this assurance during the courtesy visit to the Nigerian Stock Exchange (NSE) to introduce the new management to stockbrokers in Lagos.
Onyeagwu said that the bank has a sustainable structure and the responsibility of the new leadership is to uphold the strong legacy and outstanding pedigree that has been laid before us.
He assured the market that “We will do everything within us to elevate the strong value and the excellent performance that the bank has been known with.
“Under the new leadership, we will delivered outstanding performance, reward our shareholders, provide strong timely disclose to the market.”
He stated that the bank will come for its fact behind the figure in order for the bank to connect effectively with the capital market community, stating that “Not withstanding the headwind in the market, we may not be able to predict market outcomes, the volatility but we can predict to deliver impressive results.”
On the Loan to deposit ratio policy of the Central Bank of Nigeria (CBN), Onyeagwu commended the apex bank for the initiative, which will boost the economy activities.
According to him, it is a laudable initiatives for CBN to see how we can developed the SMEs sector and lending to retail sector as this will bring positive impact to the economy.
He noted that the banks cannot be reckless in lending but the concern has been the attitude of borrowers towards lending. The issue of the retail and the small scale having tangible or valuable collateral has been resolved.
“With the BVN, this has help in solving the problem of identity and the Banker’s Committee is working on building stronger capability into that. The capability that will enable us enforce very effective and tight credit control such that if a customer take a loan from Bank A and abandoned and go to Bank B to open account, with the BVN, such customer can be traced. If the customer is owning Bank A, N1 million and go to Bank B to open an account and deposit N2 million, electronically the system will recover the money from the debtor.
“We believe this will help drive descent behaviour and promote good credit behind.”
He stated that the bank will continue to boost its digital technology, which remain a priority.