Zenith Bank Plc has marked a significant milestone in its global expansion with the launch of its Paris branch, strengthening trade and financial ties between Europe and Africa. The official commissioning ceremony took place on Wednesday, November 27, 2024, at 21 Rue de la paix, Paris, France, and was officiated by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
This new Third-Country Branch (TCB) of Zenith Bank (UK) Limited, a subsidiary of Zenith Bank Plc, underscores the bank’s commitment to serving clients in the European market and enhancing business relations across the Euro-African corridor.
Among the dignitaries in attendance were prominent Nigerian governors, business leaders, and executives, including Kwara State Governor AbdulRahman AbdulRazaq, Lagos State Governor Babajide Sanwo-Olu, and Ogun State Governor Adedapo Abiodun, who joined the Zenith Bank team to celebrate the occasion.
In her speech, the Group Managing Director/CEO of Zenith Bank, Dame (Dr.) Adaora Umeoji, OON, highlighted the strategic importance of the Paris branch. She emphasized that the move aligns with the bank’s broader global growth strategy, positioning it as a key player in facilitating trade and finance between African nations and France. “Nigeria accounts for 20% of France’s trade with Sub-Saharan Africa,” Umeoji said, adding that Zenith Bank’s expansion into France will leverage this strong trade link, particularly focusing on markets such as Ivory Coast and Cameroon.
Honourable Minister Edun expressed his excitement about the opening, noting that the bank’s presence in Paris would foster greater trust and economic collaboration between France and Nigeria. He added that it also opens doors for greater investment opportunities in Africa, particularly Nigeria, for the French business community.
The event also drew congratulatory remarks from influential figures such as Alhaji Aliko Dangote, President of Dangote Group, who applauded Zenith Bank for its role in supporting businesses across Africa. He credited Nigerian banks, including Zenith, with playing a vital role in the success of his own business ventures.
Zenith Bank’s Paris branch will offer an extensive range of services, including corporate banking, trade finance, and treasury services, to cater to both individual and corporate clients in France and the broader European market. The bank aims to utilize its strong global network and expertise to deliver tailored financial solutions that promote growth and sustainability.
The Paris expansion follows Zenith Bank’s approval from France’s banking regulator, the Autorité de Contrôle Prudentiel et de Résolution (ACPR), in September 2024, and a Memorandum of Understanding signed earlier in November 2023 between Zenith Bank and the French Government to establish a subsidiary in France.
Zenith Bank’s Paris branch is set to become a pivotal hub for facilitating Euro-African trade and investment, further solidifying the bank’s position as a global financial leader.
