Assignment 2 -Analysis Annual Report of Zenith Bank Plc-1.doc

Analysis Annual Report of Zenith Bank Plc -31 December 2016
The annual report of Zenith Bank Plc. was obtained from its website
(https://www.zenithbank.com/Resources/Zb2016FYE-Full-statement.pdf).
An annual report reveals the financial and business transactions during a calendar year as
required by law. It is a statutory requirement and it must be published and declared publicly.
According to SGX (Singapore Exchange) in its write up titled “ An Investor’s Guide to Reading
Annual Report’’ stated that annual report should contain:
Chairman/CEO statement; independent auditors clean bill of health; financial
statements such as net profit, sales and operating cash flow after working capital
adjustment; net debit; dividends, notes to financial accounts.
Also Putra (2010), mentioned important parts of annual report which are:
CEO statement; sales and marketing; summary of financial statement; management
discussion and analysis; letter of Certified Public Accountant (CPA); financial
statement; subsidiaries, brand and addresses; list of directors and officers; stock
price history.
According to Investment Yogi (2014) annual report contains the following:
Vision and mission statement; corporate information, product overview and
financial highlight; director’s report; management discussion and analysis;
corporate governance; information on shares of the company; auditors’ report,;
financial statements, notes to account.
The annual report of Zenith Bank Plc for the year ended 31 December 2016 was obtained
from its website for the purpose of the analysis of the annual report of a company of my
choice. For this purpose analysis of the following important parts of the report will be done:-
1. Directors, Officers and Professional Advisers
2. Directors’ report
3. Corporate governance report
4. Independent auditor’s report
5. Financial statements
6. Notes to financial statements
DIRECTORS, OFFICERS AND PROFESSIONAL ADVISERS
In this section, we have the board of directors, company secretary, and the company
secretary. Board of directors is responsible for driving the company. Directors are the
strategists, decision makers. The survival and otherwise of the company lies on them. They
channel the course of the company. The quality of the directors will determine the
performance and survival of the company. The board of Zenith Bank Plc. consist of ten (10)
directors and one chairman of the company. The company also has company secretary.
Zenith Bank Plc. has 5 executive directors and 5 no executive directors. The board is
responsible for election of chairman and managing director/chief executive officer (MD/CEO)
of the bank. Jim Ovia is the chairman of the bank, he was the former/pioneer MD/CEO and

founder of the bank. He has tremendous wealth of experience as seasoned banker (zenith
website). Peter Amangbo is the MD/CEO. The information about the board can be obtained
from bank website (www.zenithbank.com). The board members have a great wealth of
experience that positions the bank in the fore front of banking in Nigeria and Africa.