Zenith Bank Plc has issued a formal clarification to the Nigerian Exchange Limited (NGX), shareholders, and the investing public, dismissing recent media reports claiming the Bank is in the process of acquiring Paramount Bank in Kenya.
The Bank stated that the information making the rounds did not originate from Zenith Bank and was not authorised by management.
It noted that no definitive decision has been taken on any transaction involving the Kenyan financial institution.
However, the Bank confirmed that, in line with its long-term strategic objectives, it is engaged in regional expansion assessments, including opportunities in East Africa.
The statement added that regulatory consultations have commenced to support this broader growth ambition, which may or may not lead to a future acquisition.
Zenith Bank reiterated that if any transaction arises requiring regulatory or shareholder notification, it will follow all disclosure requirements stipulated by the NGX Rulebook, Securities and Exchange Commission (SEC) regulations, and other governing provisions.
The Bank encouraged stakeholders to rely solely on its official communication channels for accurate and verified information.
The notice was signed by Michael Osilama Otu, Company Secretary, on behalf of the Board of Directors.
