France is set to get a Zenith Bank branch

Zenith Bank recently signed a Memorandum of Understanding (MOU), with the French government, allowing it to institute a subsidiary in the European northwest, as reported by the Nigerian newspaper, The Punch.

Jim Ovia, CFR, the bank’s Founder and Chairman represented the bank in the signing, while, Mr. Olivier Becht, the French Minister for Trade, Attractiveness, and French Nationals Abroad, was present to ink the deal on behalf of the French government. The signing took place at Zenith’s HQ in Nigeria.

The decision to have a French subsidiary, according to a statement, allows the Bank to submit an application for regulatory clearance from the Autorite’ de Controle Prudentiel et de Résolution (ACPR) for the development of an office in France through its fully-owned subsidiary, Zenith Bank (UK) Limited.

Source: BI