Zenith Bank shareholders task new MD on retaining top-tier status

Shareholders of Zenith Bank Plc have called on the incoming Managing Director of the bank, Mr. Peter Amangbo, to ensure that the bank remains a top financial institution in the country and abroad.

The shareholders stated this in Lagos on Wednesday at the company’s 23rd Annual General Meeting. They also advised the incoming managing director to develop policies and strategies that would boost the activities of the bank.

One of the shareholders of the bank, Mr. Nonah Awoh, said they expected a better performance from Amangbo, adding that the bank must remain an institution to be reckoned with within and outside the country.

“Our incoming managing director must work tirelessly to increase our profitability and ensure that the bank returns increased performance in the coming years. This will translate to more dividends for the shareholders,” he stated.

The National Coordinator, Independent Shareholders’ Association of Nigeria, Sir Sunny Nwosu, said that the bank had been operating on a high level in the past years, and it was important to maintain the standard.

He also commended the outgoing Managing Director, Mr. Godwin Emefiele, who was recently appointed as the governor of the Central Bank of Nigeria.

He said, “We are very happy at the achievements of Emefiele, as he had worked hard to ensure that this institution achieved a lot in the last few months, and we only hope that Amangbo will follow suit.

“It is our belief that the new managing director will come out with some policies that will make our bank to maintain one of the top positions in the country as it has been in the last few years.”

Nwosu, who was happy with the N1.75 declared as dividend in the just ended financial year, called on the management to do more for shareholders at the end of the next financial year.

In his remarks, Emefiele said that the bank would focus on strategic and key areas to improve upon its activities in the coming years.

He said, “The management and board of Zenith Bank will not rest on its oars and we will work hard to ensure that the confidence that the shareholders have in us is not misplaced, we will do all we can to surpass the expectations of our stakeholders.

“For the few months that I have to be there and beyond, I can assure you that we will continue to do more to position the bank and move it from its current number six in terms of shareholders’ funds to number one. It is our hope that we will compete among the some of the best banks in the world in the shortest period.”

 

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