The lender Nigerian Zenith Bank Plc expects to enter Côte d'Ivoire and expand into eight French-speaking markets additional after the completion of a hybrid capital raise of 614.65 billion NGN ($416.7 million).

line-height: 107%; font-family: "Bookman Old Style”, serif"> Zenith Bank Plc will strengthen its capacity for regional growth, reports Nairametrics. Fundraising — a mix of equities and near debt instruments — has largely been oversubscribed, increasing the bank's capital base by 160% to 614.65 billion naira. Group CEO, adaora Umeoji, said that this new funding position zenith for “accelerated growth” and strengthened its regional balance sheet. She told the Nigerian stock exchange (NGX) during the closing ceremony, quoted by Nairametrics, that the new capital positioned the bank for “accelerated growth,” noting that a branch in Paris has already opened while an Ivorian banking license is during treatment.

The Coast License Ivory Coast would grant passport rights in eight French-speaking countries of the Economic Union and West African currency (UEMOA), aligning the expansion of zenith on the commercial flows of its corporate customers.

The expansion plan follows the solid results of the first half of 2025, including a pre-tax profit of NGN 625.63 billion (USD 424.2 million), a profit After taxes of NGN 532.18 billion (USD 360.8 million) and an increase of 19.96% of year-on-year gross profit to 2.52 trillion NGN (1.71 billion USD). Interest income represented 73 per cent of gross profit, totaling 1.84 billion NGN (1.25 billion USD). The board of directors has approved an interim dividend of NGN 1.25 per share, an increase by 25% compared to the 1.00 NGN declared in the first half of 2024, reflecting confidence as the bank accelerates its regional expansion.