Zenith Bank Plc has formally refuted recent media reports and online commentary claiming that the Bank is in the process of acquiring Paramount Bank in Kenya as part of an expansion into the East African market.
The bank stated that the information circulating online and in the press was neither released nor authorised by its management.
In a statement released to the Nigerian Exchange Limited (NGX) signed by Michael Otu, the company secretary, shareholders, and the investing public, Zenith Bank clarified that while it is actively pursuing its long-term regional expansion strategy, which includes potential opportunities in East Africa, no definitive transaction or acquisition agreement has been reached.
The bank confirmed that preliminary regulatory engagements have commenced in line with its broader growth objectives.
However, it emphasised that any transaction requiring regulatory approval, shareholder notification, or public disclosure will be communicated in full compliance with NGX rules, the Securities and Exchange Commission (SEC) regulations, and other statutory requirements governing transparency and timely reporting.
Zenith Bank reassured stakeholders of its commitment to provide accurate communication and urged the public to rely solely on the bank’s official statements.
