Zenith Bank Plc has taken a significant step towards global expansion by signing a Memorandum of Understanding (MoU) with the French Government to establish a subsidiary in France. The MoU, inked by Jim Ovia, Founder and Chairman of Zenith Bank, and Mr. Olivier Becht, the French Minister for Trade, Attractiveness, and French Nationals Abroad, on November 24, 2023, paves the way for regulatory approval from the Autorite’ de Controle Prudentiel et de Resolution (ACPR).
Jim Ovia expressed his delight during the signing ceremony, anticipating the establishment of operations in early 2024. He acknowledged the efforts of the French Ambassador to Nigeria, Emmanuelle Blatmann, and the French Embassy in Nigeria for enhancing French-Nigerian business relations.
French Minister Olivier Becht hailed the decision to open a Zenith Bank branch in Paris as a positive signal of mutual confidence and a milestone in French-Nigerian economic relations. He highlighted the French government’s pro-business agenda and reforms aimed at making France more attractive, expressing hope that this move would encourage more bilateral investments.
Zenith Bank’s expansion aligns with its reputation for superior service, customer experience, and financial strength in the Nigerian financial services industry. The bank has been a leader in digital innovation and currently operates subsidiaries in Ghana, Sierra Leone, and The Gambia, along with a Representative Office in The People’s Republic of China.
