Zenith Bank has completed its acquisition of Paramount Bank in Kenya, marking a major step in its expansion strategy across Africa.
The Nigerian lender confirmed the deal’s closure in a statement signed by Company Secretary, Michael Osilama Otu, on Tuesday, with the value of the deal left undisclosed.
With this acquisition, Zenith Bank becomes the fourth Nigerian bank to operate in Kenya, joining United Bank for Africa (UBA), Guaranty Trust Bank (GTBank), and Access Bank.
In its statement, Zenith Bank confirmed that it had acquired 100% of the issued share capital of Paramount Bank Kenya Limited, after receiving the necessary regulatory approvals from both Nigeria and Kenya.
“Further to our publication on November 18, 2025, Zenith Bank PLC is pleased to announce the completion of its acquisition of the entire issued share capital of Paramount Bank Kenya Limited following the receipt of all requisite regulatory approvals in Kenya and Nigeria,” the bank said.
“This acquisition marks a significant step toward our long-term strategic growth agenda and a strong inroad into the East African markets,” the statement added.
Zenith Bank reiterated that the acquisition strengthens its position as a leading financial institution in Sub-Saharan Africa, reaffirming its commitment to following its customers’ businesses wherever they operate.
