We met our minimum capital requirement – Zenith MD

Mr Henry Orah, the Managing Director of Zenith Bank, has said the Bank had met the Bank of Ghana’ minimum capital requirement ahead of the deadline.

He said the Bank met the requirement from its return earnings and not from any partnership or capital injection from anywhere.

Mr Orah told the GNA, after its annual health walk in Accra that the event was to promote the healthy lifestyle of its employees, partners and customers, since the Bank values the importance of health.

The event was on the theme: “Together we aspire, walk for health.”

He said the management of the Bank believed in organic growth within the Bank, which would enable it to expand over time and needed no consolidation or partnership to meet the minimum capitalisation requirement.

The Managing Director said 2017 was a difficult year for the sector but the Bank was able to perform creditably with a growth of 25 per cent profitability and 30 per cent on its balance sheet.

He said the difficulty was as a result of the political transition and system, which needed to change with the new government settling down among other factors.

“We are able to stand the storm as a Bank and also come out with a performance we are proud of,” he added.

Mr Orah said 2018 would equally be a difficult year in terms of competing for business and resources, but the Bank would rely on its same strategies used in the past to perform creditably.

He said management would empower and motivate its employees to improve on their outputs and increase its operations to serve their customers better.

“We will build a work force that is mentally and physically stable to be able to achieve the desired growth,” he added.

He commended the previous and present board and shareholders for their visionary leadership that had kept propelling the growth of the Bank.

Source: GNA