Zenith Bank (Ghana) Limited remains well capitalised, liquid and resilient to continue its support for its customers in the country.

A careful look at its financial soundness indicators show that the bank’s Capital Adequacy Ratio (CAR) remained way ahead of the regulatory limit set by the Bank of Ghana and industry average in 2022. The bank’s assets quality for the period also reflected an improvement in the Non-Performing Loans (NPL) ratio for the year.

The bank posted a surge in its total net non-interest income from a loss position of ¢3.8 million in 2021 to ¢331 million in the year under review, according to its 2022 Audited Financial Statement.

Its summary financial statement attributed operating income, risk assets and deposits as primary growth areas for the bank during the year under review.

Zenith Bank Ghana posted a net loss of ¢555 million in 2022 due to the government’s Domestic Debt Exchange Programme (DDEP), which impacted most banks in the country.

The losses was as a result of the impairment charges relating to the debt restructuring programme.

Zenith Bank well capitalised

Despite the loss encountered for the period, Zenith Bank Ghana will not need an injection of additional capital.

This is because it is well capitalised with a total equity of ¢982 million recorded as of the end of December 2022.

Zenith Bank recovers swiftly from loss position in Q1

In the first quarter of 2023 ending March 31, 2023, Zenith Bank Ghana recovered swiftly from its loss position in 2022.

This is due to the adoption and implementation of growth-related strategies which resulted in the bank returning to the path of profitability.

Its Summary Financial Statement cited profitability, operating income, assets and deposits as key growth areas of the bank as it posted a profit of ¢217 million in the first quarter of 2023.

Fast forward, the bank is expected to continue to remain capitalised and positioned to support its customers.