Zenith Bank Plc (NGX: ZENITHBANK) has responded to recent media reports claiming the bank is in the process of acquiring Paramount Bank in Kenya. Some of the reports suggested that a deal was already in motion.
In an official statement dated November 18, 2025, and signed by Michael Osilama Otu, Company Secretary, Zenith Bank clarified that the information did not originate from the bank and has not been authorized by its management.
However, the bank confirmed that regional expansion remains a key part of its long-term growth strategy, and it is currently assessing opportunities across various African markets — including East Africa.
According to the bank: “Regulatory engagement has been initiated with respect to achieving the above objective, including but not limited to the acquisition of any financial institution within the East Africa region.”
Zenith Bank emphasized its commitment to transparency and proper regulatory compliance, noting that any transaction requiring disclosure will be communicated promptly in line with NGX rules, SEC regulations, and all statutory requirements.
The bank urged shareholders, investors, and the general public to depend solely on its official communication channels for accurate updates.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
