Zenith Bank PLC, a prominent Nigerian tier-one financial services provider, has denied acquiring Paramount Bank, Kenya, as part of its strategic expansion into the East African Market.
The corporate disclosure was communicated to the Bank’s shareholders, investors, and the general public and filed with the Nigerian Exchange Group (NGX).
This measure was taken due to viral information currently trending online and reported by media outlets that the lender has acquired Paramount Bank Kenya.
According to Michael Otu, the group’s secretary, the corporation is currently exploring various regional expansion opportunities, inclusive of the East African Market. This is not limited to the acquisition of any financial institution as a part of its strategic long-term agenda.
The Bank also pledged to fully comply with the NGX Rulebooks, the Securities and Exchange Commission (SEC) regulations, and other statutory requirements by providing accurate and reliable information should any deal occur in the future.
Zenith Bank finally called on the various stakeholders to rely solely on the lender’s official communication channels for verified information.
The Group is listed on the Premium Board of the NGX, and its share closed at N61.55 on Tuesday, November 19, 2025, shedding 1.95% of its share price.
