Nigerian banking giant Zenith Bank has reported remarkable financial results for the first half of 2023, with profits soaring by a staggering 161.85 percent, propelling Jim Ovia, one of Nigeria’s most prominent bankers, who is also the highest shareholder and founder of Zenith bank to receive an interim dividend of N2.54 billion from his stake in the bank.
Ovia, recognized as Nigeria’s richest banker and a top figure in Africa’s financial services industry, stands to benefit significantly from Zenith Bank’s robust performance.
The bank’s interim dividend payout follows an impressive financial showing and reflects the substantial profits earned during H1 2023.
Zenith Bank’s financial report, released recently, reveals that its profits surged from N111.41 billion in the first half of 2022 to N291.73 billion during the same period in 2023.
Ovia, who holds a 16.18-percent stake in Zenith Bank, equivalent to 5,081,255,311 shares, stands to receive N2.54 billion ($3.24 million) in interim dividends. This significant dividend payout adds to his substantial final dividend earlier this year.
Zenith Bank’s exceptional financial performance underscores its status as a leader in Nigeria’s banking sector, while Ovia’s substantial dividend earnings reflect his prominent position in the nation’s banking and business landscape.