Zenith Bank Plc has taken a significant step in its global growth strategy by officially opening its Paris branch, Zenith Bank (UK), Paris. The commissioning ceremony, held on Wednesday, November 27, 2024, at 21 Rue de la Paix, Paris, France, was officiated by Nigeria’s Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
This milestone represents Zenith Bank’s commitment to serving its clients in Europe and underscores its strategic ambition to become a global financial powerhouse. The Paris branch, classified as a Third-Country Branch (TCB) of Zenith Bank (UK) Limited, a subsidiary of Zenith Bank Plc, will strengthen the bank’s international footprint and foster economic ties between Africa and Europe.
The event was attended by a distinguished delegation, including Kwara State Governor and Chairman of the Nigeria Governors’ Forum (NGF), AbdulRahman AbdulRazaq; Lagos State Governor, Babajide Sanwo-Olu; Ogun State Governor, Adedapo Abiodun, CON; Enugu State Governor, Dr. Peter Mbah; Chairman of BUA Group, Abdul Samad Rabiu, GCON; Minister of State for Finance, Dr. Doris Uzoka-Anite; Chief Executive Officer of the Nigerian Investment Promotion Commission (NIPC), Aisha Rimi; and Executive Director of the Nigerian Export Promotion Council (NEPC), Nonye Ayeni.
In her welcome address, Zenith Bank Group Managing Director/CEO, Dame (Dr.) Adaora Umeoji, OON, expressed gratitude to the bank’s Founder and Chairman, Dr. Jim Ovia, CFR, for his visionary leadership. She emphasized the strategic importance of the Paris branch, stating, “This opening is part of our broader strategy to extend our footprint across major global financial centers and to serve our customers better. Paris offers immense opportunities to bolster trade and finance relationships between France, Nigeria, and the broader African region.” She further highlighted that Nigeria accounts for 20% of France’s trade with Sub-Saharan Africa, a statistic that reinforces the bank’s expansion strategy into Francophone markets like Ivory Coast and Cameroon.
Finance Minister Wale Edun hailed the development as a testament to growing trust in Nigerian institutions, saying, “Zenith Bank’s presence in Paris will enhance trust within the French business community, highlight Africa’s opportunities, and facilitate entry into Nigeria for French investors.”
Other dignitaries, including Alhaji Aliko Dangote, Bertrand Dumont (Director General of the Treasury, France), and Aigboje Aig-Imoukhuede, CFR (Chairman of the France-Nigeria Business Council), applauded Zenith Bank’s initiative. Dangote noted that a strong banking sector is crucial for economic growth, saying, “Without institutions like Zenith Bank, businesses in Nigeria wouldn’t have achieved the growth we see today.”
The branch’s establishment followed final approval from France’s banking regulator, the Autorité de Contrôle Prudentiel et de Résolution (ACPR), in September 2024. This approval came after the signing of a 2023 Memorandum of Understanding (MoU) between Zenith Bank and the French government to foster financial cooperation.
Zenith Bank Paris will offer a range of services, including corporate banking, trade finance, and treasury solutions for individual and corporate clients. Positioned as a hub for trade and financial connectivity, it aims to accelerate economic exchanges between Europe and Africa while leveraging Zenith Bank’s global expertise to deliver tailored solutions.
With this strategic expansion, Zenith Bank solidifies its position as a bridge between continents, championing trade flows and economic growth.
