Peter Amangbo is a highly skilled professional with decades of experience in banking, business management, accounting and leadership. He is the Group Managing Director/ CEO of Zenith Bank Plc. He holds a B.Eng. Degree (Electrical and Electronics Engineering) from University of Benin and an MBA from the University of Warwick, Coventry in the United Kingdom. He is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA).
Prior to this appointment as the Group Managing Director of the financial giant in Nigeria, Mr. Amangbo has been an Executive Director of the bank since 2005 and has over twenty four (24) years cognate banking experience all of which has been with Zenith Bank. He worked previously with PriceWaterHouse as a Senior Consultant in the Financial Services Group.
He has attended the Advanced Management Programme at INSEAD, France and Wharton Graduate School of Business, USA.
Under Peter Amangbo’s watch, Zenith’s audited financial report for the period ended December 31, 2018 revealed that the bank grew its Profit after Tax for the year to N193.4billion or 11.30 % from N173.8 billion recorded in 2017.
Also, the bank recorded profit before tax of N231.685 billion during the period under review thereby showing a growth of 16.24 percent againts N199.319 billion recorded in the corresponding period.
Its earnings per share appreciated by 11.30 percent from N5.54kobo in 2017 to N6.16kobo in 2018. At the reference share price of N25.35 its stock closed on the released date of FY’18 result, PE ratio of the group stands at 4.12x; with earnings yield of 24.30%
The Bank proposed a final dividend of N2.50kobo per ordinary share to shareholders bringing dividend yield to be 9.86%
Zenith Bank Plc was established in May 1990, and commenced operations in July of the same year as a commercial bank. The Bank became a public limited company on June 17, 2004 and was listed on the Nigerian Stock Exchange (NSE) on October 21, 2004 following a highly successful Initial Public Offering (IPO). Zenith Bank Plc currently has a shareholder base of about one million and is Nigeria’s biggest bank by tier-1 capital. In 2013, the Bank listed $850 million worth of its shares at $6.80 each on the London Stock Exchange (LSE).
Headquartered in Lagos, Nigeria, Zenith Bank Plc has over 500 branches and business offices in prime commercial centres in all states of the federation and the Federal Capital Territory (FCT). In March 2007, Zenith Bank was licensed by the Financial Services Authority (FSA) of the United Kingdom to establish Zenith Bank (UK) Limited as the United Kingdom subsidiary of Zenith Bank Plc.
Zenith Bank also has subsidiaries in: Ghana, Zenith Bank (Ghana) Limited; Sierra Leone, Zenith Bank (Sierra Leone) Limited; Gambia, Zenith Bank (Gambia) Limited. The bank also has representative offices in South Africa and The People’s Republic of China. The Bank plans to take the Zenith brand to other African countries as well as the European and Asian markets.
Zenith Bank Plc blazed the trail in digital banking in Nigeria; scoring several firsts in the deployment of Information and Communication Technology (ICT) infrastructure to create innovative products that meet the needs of its teeming customers.
The bank is verifiably a leader in the deployment of various channels of banking technology, and the Zenith brand has become synonymous with the deployment of state-of-the-art technologies in banking. Driven by a culture of excellence and strict adherence to global best practices, the Bank has combined vision, skillful banking expertise, and cutting-edge technology to create products and services that anticipate and meet customers’ expectations; enable businesses to thrive and grow wealth for customers.