Zenith Bank Plc took another bold step in its international growth journey by opening Zenith Bank (UK), Paris Branch, at 21 Rue de la Paix, Paris, France, on November 27, 2024. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, performed the commissioning, marking a new chapter in the bank’s global expansion.
The Paris branch, a Third-Country Branch (TCB) of Zenith Bank (UK) Limited, strengthens the bank’s presence in Europe and reinforces its commitment to serving clients across the region. The event drew several dignitaries, including the Governor of Kwara State and Chairman of the Nigeria Governors’ Forum, AbdulRahman AbdulRazaq, alongside Governors Babajide Sanwo-Olu of Lagos, Dapo Abiodun of Ogun, and Peter Mbah of Enugu. Also present were top figures from the private and public sectors such as Abdul Samad Rabiu of BUA Group, Minister of State for Finance Doris Uzoka-Anite, NIPC CEO Aisha Rimi, and NEPC Executive Director Nonye Ayeni. Their presence reflected the importance of the moment and the pride it brought to the Nigerian banking sector.
Group Managing Director and Chief Executive Officer of Zenith Bank, Adaora Umeoji, expressed gratitude to the bank’s Founder and Chairman, Jim Ovia, for his vision and leadership in building an internationally respected institution. She explained that the Paris branch opening aligns with the bank’s broader strategy to establish its footprint in major financial centers worldwide while supporting customers’ businesses wherever they operate.
Umeoji emphasized that the Paris branch strengthens trade and financial relationships between France and Africa. She noted that Nigeria alone accounts for 20 percent of France’s trade with sub-Saharan Africa, according to the Franco-Nigeria Chamber of Commerce and Industry. She added that Zenith Bank plans to leverage its Paris operations to expand into Francophone countries such as Ivory Coast and Cameroon, deepening trade links between France and Africa.
Wale Edun described the milestone as a testament to the growing global trust in Nigerian institutions. He said Zenith Bank’s presence in Paris will help French businesses understand the opportunities across Africa and facilitate smoother entry into Nigeria’s economy. He celebrated the bank’s accomplishment as a sign of progress for both nations.
Aliko Dangote, President and Chief Executive of Dangote Group, congratulated Zenith Bank and praised the role Nigerian banks have played in supporting the nation’s economic growth. He said no country can grow without a strong financial sector, and institutions like Zenith Bank have been pivotal in that progress.
Bertrand Dumont, Director General of the French Treasury, commended the new branch, describing it as an important step in boosting trade between the two nations and the wider continents of Europe and Africa. He wished the bank success and expressed hope that the branch would soon grow even larger as its influence expanded.
Aigboje Aig-Imoukhuede, Chairman of the France-Nigeria Business Council, reflected on the journey of Nigerian banks in Europe. He recalled how 15 years ago, Jim Ovia, then CEO of Zenith Bank, welcomed him as the head of Access Bank into the UK market. Now, the tables have turned with Zenith Bank’s expansion into France. He described the move as a symbol of partnership, intentional leadership, and collaboration between both countries’ financial sectors.
France’s banking regulator, Autorité de Contrôle Prudentiel et de Résolution (ACPR), granted Zenith Bank final approval to operate the Paris branch in September 2024. This approval followed a Memorandum of Understanding signed in November 2023 between Jim Ovia and French Minister for Trade, Attractiveness and French Nationals Abroad, Olivier Becht, during Becht’s visit to Nigeria.
According to information gathered by TechMarge, Zenith Bank designed its Paris branch to serve as a financial hub that promotes trade, investment, and economic collaboration between Europe and Africa. The branch will provide services such as corporate banking, trade finance, and treasury operations to individual and corporate clients across Europe.
With its Paris branch now open, Zenith Bank continues to position itself as a bridge between Africa and the world. The bank’s expansion demonstrates its confidence, stability, and vision for deeper global engagement, ensuring that African finance continues to thrive on the international stage.
