Zenith Bank Plc has inked a Memorandum of Understanding (MoU) with the French Government to establish a subsidiary in France. The MoU, signed by Jim Ovia, CFR, Founder and Chairman of Zenith Bank Plc, and Mr. Olivier Becht, the French Minister for Trade, Attractiveness, and French Nationals Abroad, on Friday, November 24, 2023, marks a strategic partnership paving the way for Zenith Bank’s presence in France.
The agreement allows Zenith Bank, through its wholly-owned subsidiary, Zenith Bank (UK) Limited, to pursue and obtain regulatory approval from the Autorité de Contrôle Prudentiel et de Résolution (ACPR) to establish a strategic foothold in France.
Expressing his enthusiasm during the signing ceremony, Jim Ovia stated, “It gives me great pleasure to welcome you to Nigeria and Zenith Bank. I am indeed very delighted about the signing of this MoU with France. For me, it is an honor to do this on behalf of the bank, and we look forward to securing the license and starting operations in early 2024.” He extended his gratitude to the French Ambassador to Nigeria, Emmanuelle Blatmann, and her colleagues at the French Embassy for their efforts in enhancing French-Nigerian business relations.
In his remarks, French Minister Olivier Becht conveyed appreciation for Zenith Bank’s decision to establish a branch in Paris, considering it a positive signal and an illustration of mutual confidence. He emphasized the potential for this move to strengthen economic ties between France and Nigeria, encouraging more French companies to invest in Nigeria and vice versa.
Highlighting Zenith Bank’s distinguished position in the Nigerian financial services industry, the bank has consistently excelled through superior service offerings, exceptional customer experiences, and robust financial performance. Renowned for its leadership in the digital space, Zenith Bank has introduced innovative products, alternative channels, and solutions, ensuring convenient, swift, and secure transactions for its customers.
Zenith Bank already extends its footprint beyond Nigeria, with subsidiaries in Ghana (Zenith Bank (Ghana) Limited), Sierra Leone (Zenith Bank (Sierra Leone) Limited), and The Gambia (Zenith Bank (Gambia) Limited). Additionally, the bank maintains a Representative Office in The People’s Republic of China. This latest venture into France solidifies Zenith Bank’s commitment to expanding its global reach and fostering international business relations.
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Seunmanuel Faleye is a brand and communications strategist. He is a covert writer and an overt creative head. He publishes Apple’s Bite International Magazine.
