Zenith Bank PLC has completed the acquisition of Paramount Bank Kenya Limited, marking its entry into the Kenyan banking sector and a broader push into East Africa.
In a statement dated April 7, 2026, the Nigerian lender confirmed that it had acquired “the entire issued share capital of Paramount Bank Kenya Limited (PBL or ‘the Target’)” after securing all required regulatory approvals in both Kenya and Nigeria.
The bank described the move as a key milestone in its expansion strategy. “This acquisition marks a significant step towards our long-term strategic growth agenda and a strong inroad into the East African markets,” Zenith Bank said.
The deal signals the lender’s intention to strengthen its footprint beyond West Africa, positioning itself within one of the region’s growing financial markets. The acquisition also reinforces its broader ambition across the continent.
Zenith Bank noted that the transaction supports its standing as a major player in the region. It said the move “further reinforces the Bank’s position as a leading financial institution in Sub-Saharan Africa,” while aligning with its customer-focused approach.
The acquisition of Paramount Bank Kenya provides Zenith Bank with a direct presence in Kenya, offering a platform to expand its services and tap into new opportunities in the East African financial landscape.
