By Ayomide Otitoju
Zenith Bank Plc has marked a significant milestone in its global expansion with the opening of Zenith Bank (UK), Paris Branch. The official commissioning ceremony took place on Wednesday, November 27, 2024, at 21 Rue de la Paix, Paris, France, and was attended by dignitaries including Nigeria’s 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), represents a key step in the bank’s strategy to expand its global footprint and serve clients in the European market. This new branch underscores Zenith Bank’s commitment to strengthening trade and finance relationships between France, Nigeria, and other African nations.
Among the dignitaries at the event were Governors AbdulRahman AbdulRazaq of Kwara State, Babajide Sanwo-Olu of Lagos State, Adedapo Abiodun of Ogun State, and Dr. Peter Mbah of Enugu State, as well as business leaders including Abdul Samad Rabiu, Chairman of BUA Group, and Aisha Rimi, CEO of the Nigerian Investment Promotion Commission (NIPC). These individuals joined Zenith Bank executives to celebrate the achievement.
In her welcome address, Zenith Bank’s Group Managing Director/CEO, Dame (Dr.) Adaora Umeoji, OON, highlighted the strategic importance of the Paris branch. “This move is part of our broader strategy to extend our presence across key global financial centers and to follow our customers’ businesses,” Umeoji said. “Paris will be a hub for business between France and the African continent, starting with countries like Ivory Coast and Cameroon, where we plan to establish subsidiaries soon.”
Mr. Wale Edun, the Honourable Minister of Finance, praised the opening as a key step in fostering trust between Nigerian institutions and the international business community. “Zenith’s presence in Paris will facilitate business opportunities and encourage French companies to explore the potential in Africa, especially in Nigeria,” Edun remarked.
Alhaji Aliko Dangote, President and CEO of Dangote Group, also congratulated Zenith Bank on the milestone, emphasizing the importance of strong banking institutions in driving national and continental economic growth. “Without the likes of Zenith Bank, Nigerian businesses, including ours, wouldn’t have achieved the success we have today,” Dangote stated.
The opening ceremony also featured remarks from Bertrand Dumont, Director General of the Treasury, France, who called the new branch a vital asset for enhancing trade between France and Africa. “I look forward to seeing this initiative grow and to celebrating its future successes,” Dumont said.
The new Paris branch follows the approval by France’s banking regulator, the Autorité de Contrôle Prudentiel et de Résolution (ACPR), in September 2024. Zenith Bank had previously signed a Memorandum of Understanding (MoU) with the French government in November 2023 to establish the branch.
Zenith Bank, Paris, will offer a wide range of services including corporate banking, trade finance, and treasury services, and aims to accelerate trade flows between Europe and Africa. With operations already established in 20 African countries and other international markets, Zenith Bank is positioning Paris as a global financial hub to further facilitate cross-continental business.
