Zenith Bank says it will meet all CBN conditions and pay dividends to shareholders after exiting regulatory forbearance by the end of June.
Zenith Bank Plc has assured shareholders of its readiness to resume dividend payments by end of June 2025, stating that it expects to meet all regulatory conditions set by the Central Bank of Nigeria (CBN) by the end of the first half of the year.
In a statement issued on Tuesday, June 17, and signed by its Company Secretary, Michael Otu, the bank affirmed its full compliance with the CBN’s temporary suspension of dividend payments, bonuses, and investments in foreign subsidiaries.
Zenith Bank also announced that it has raised and surpassed the apex bank’s new minimum capital requirement of ₦500 billion. The lender explained that its exposure under the Single Obligor Limit forbearance relates to only one obligor and will be brought within the regulatory threshold by June 30, 2025.
In addition, the bank clarified that the forbearance granted on other credit facilities applies to just two customers. It expressed confidence that it would exit all CBN forbearance arrangements by mid-2025.
Chioma Kalu
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