Shareholders’ Funds Of Zenith Bank, 4 Others Hit N20.22trn On CBN Recapitalisation

The shareholders’ funds of Zenith Bank Plc and four others crossed the N20 trillion mark in 2025, driven largely by the Central Bank’s recapitalisation exercise.

Access Holdings, United Bank of Africa (UBA), Zenith Bank, First HoldCo, and Guaranty Trust Holding Company (GTCO) all exceeded the new N500 billion minimum capital requirements for international banks through capital raises on the Nigerian Exchange (NGX).

From the audited results and accounts for the full year ended December 31, 2025, the five banks reported shareholders’ funds of N20.22 trillion, an increase of 21 per cent from N16.72 trillion reported in the 2024 financial year.

The five banks’ total assets stood at N161.2 trillion in 2025, a 12.6 per cent increase over N143.1 trillion in 2024. On this, shareholders’ funds contributed about 12.5 per cent of the total five assets in 2025, up from 11.68 per cent in 2024.

In March 2024, the Central Bank of Nigeria (CBN) announced an increase in the minimum capital requirements for banks, aiming to strengthen the financial sector and position it to support the real economy. In line with the requirements, international commercial banks are required to maintain a minimum capital of N500 billion, consisting solely of share capital and premium. National banks were required to raise N200 billion, and regional banks were required to raise N50 billion. Non-interest banks are required to hold N20 billion (national) and N10 billion (regional).

Using the Nigerian capital market, the five banks were able to raise the N500 billion minimum capital required by the apex banking regulator.

The breakdown showed that Zenith Bank’s shareholders’ fund closed 2025 at N4.9 trillion, about a 22.2 per cent increase over N4.03 trillion in 2024. Access Holdings reported N4.33 trillion shareholders’ fund in 2025, while UBA declared N4.25 trillion shareholders’ fund in 2025.

Analysts attributed the stock market’s role in the CBN’s successful capital-raising exercise, noting that Nigerian banks are resilient amid local and foreign challenges.

The vice president of Highcap Securities Limited, Mr David Adonri,  stated that the capital market was poised to make pivotal contributions to the achievement of the banks raising fresh capital and the FG’s determination to achieve a $1 trillion economic target.

He called for supportive policies to encourage more companies to utilise the capital market for their financing programmes.

Speaking on the Bank’s performance in 2025, the Group managing director/CEO, Dr Adaora Umeoji, stated, “Our 2025 results are a reflection of the discipline and focus with which we executed our strategy. We successfully strengthened our asset quality, optimised our balance sheet, and invested in the capabilities that will propel our next phase of growth.”

For First Holdco, its Group managing director, Wale Oyedeji, stated that, “2025 was a defining year for FirstHoldCo, characterised by disciplined execution, resilient core earnings and a comprehensive reset of our balance sheet for sustainable performance and high-quality growth.

“We also strengthened our capital position through focused capital-raising initiatives to ensure FirstBank meets the minimum regulatory capital requirements of N500 billion. Additionally, and under our N350 billion capital raise programme, we have successfully secured N128.7 billion to date. We remain firmly on track and continue to engage proactively with regulators and the market to deliver a further enhanced, well-capitalised platform that can enhance growth and increase value creation.”