Zenith Bank Plc has extended its global reach with the official inauguration of its Paris branch, Zenith Bank (UK), Paris Branch, marking a significant step in its international expansion.
The event, held on Wednesday, November 27, 2024, at 21 Rue de la Paix, Paris, was presided over by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
The Paris branch, a Third-Country Branch (TCB) of Zenith Bank (UK) Limited, a subsidiary of Zenith Bank Plc, highlights the bank’s strategic efforts to enhance its footprint across key global financial hubs, particularly in Europe.
Dignitaries at the event included His Excellency, AbdulRahman AbdulRazaq, Governor of Kwara State and Chairman of the Nigeria Governors’ Forum (NGF); His Excellency, Babajide Sanwo-Olu, Governor of Lagos State; His Excellency, Adedapo Abiodun, Governor of Ogun State; His Excellency, Dr. Peter Mbah, Governor of Enugu State; Abdul Samad Rabiu, Chairman of BUA Group; Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite; Aisha Rimi, CEO of the Nigerian Investment Promotion Commission (NIPC); and Nonye Ayeni, Executive Director/CEO of the Nigerian Export Promotion Council (NEPC), among others.
These distinguished guests joined Zenith Bank executives in celebrating this momentous occasion.
In her address, Dame (Dr.) Adaora Umeoji, OON, Group Managing Director/CEO of Zenith Bank, expressed gratitude to the bank’s founder, Dr. Jim Ovia, CFR, for his visionary leadership.
She emphasized that the opening of the Paris branch aligns with Zenith Bank’s broader strategy to extend its operations in major global financial centers, supporting its customers’ businesses worldwide.
She also highlighted the significance of the bank’s entry into France, noting that Nigeria accounts for 20% of France’s trade with Sub-Saharan Africa.
The bank’s expansion into France is seen as a crucial move to strengthen trade relations between Africa and France, with plans to establish subsidiaries in countries like Ivory Coast and Cameroon.
The Honourable Minister of Finance, Mr. Wale Edun, commended Zenith Bank’s global expansion, emphasizing that the opening of the Paris branch will foster trust and promote business opportunities between France and Africa.
He expressed confidence that this venture would further enhance Nigeria’s global economic standing.
Congratulating Zenith Bank on this achievement, Alhaji Aliko Dangote, President and CEO of Dangote Group, acknowledged the role of strong banking institutions like Zenith Bank in driving economic growth and business success.
Bertrand Dumont, Director General of the Treasury in France, expressed his optimism for the success of the new branch, calling it a crucial asset for facilitating business between the two countries and continents.
Mr. Aigboje Aig-Imoukhuede, Chairman of the France-Nigeria Business Council, also praised Zenith Bank’s commitment to fostering international partnerships, reflecting on the bank’s leadership in expanding into key financial markets.
The opening of Zenith Bank Paris follows the approval from France’s banking regulator, the Autorité de Contrôle Prudentiel et de Résolution (ACPR) in September 2024. Earlier in November 2023, the bank formalized its expansion plans by signing a Memorandum of Understanding (MoU) with the French government to establish a subsidiary in France.
Zenith Bank Paris is positioned as a hub for facilitating trade, business, and financial services between Europe and Africa. The branch will offer a range of services, including corporate banking, trade finance, and treasury services, to both individual and corporate clients across France and the broader European market. By leveraging its extensive global network, Zenith Bank aims to provide tailored financial solutions to meet the diverse needs of its clients.
