June 18, (THEWILL) – Zenith Bank Plc has announced its readiness to fully exit the regulatory forbearance arrangements granted by the Central Bank of Nigeria (CBN) by June 30, 2025, signalling a return to full compliance with all prudential requirements.
The disclosure was made in a corporate statement filed with the Nigerian Exchange Limited (NGX) on Wednesday.
Signed by the bank’s Company Secretary, Michael Otu, Zenith Bank said it has now raised and surpassed the new regulatory capital threshold of N500 billion.
“The Bank’s exposure under the Single Obligor Limit (SOL) forbearance relates solely to a single obligor. We are confident that this exposure will be brought within the applicable regulatory limit on or before 30 June 2025“, it said.
The bank further clarified that the other credit facility-related forbearance applied to only two customers. Substantial provisions have been made against these exposures, and the bank expects to achieve full provisioning by the end of the second quarter of 2025.
“With completion of these actions, the Bank will no longer be under any forbearance arrangements”, it assured.
Zenith Bank was among a small group of Nigerian lenders affected by the CBN’s directive restricting dividend payouts, bonus distributions, and foreign investments due to breaches related to capital adequacy and loan exposure limits.
Reassuring shareholders, the bank said it anticipates meeting the necessary requirements to resume dividend payments this financial year.
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