Five top advertisers in the financial sector spent N2.4 billion in print media in 2020
By Dele Ojo
The five biggest advertisers in the financial sector spent a cumulative N2.4 billion or 38.70 percent in 2020 in the print media, despite the lockdown occasioned by the emergence of Covid-19 pandemic. The print media attracted advert spend of N3.3 billion from eleven banks and some firms in the insurance and capital market sectors during the year.
The Nigerian banking and financial industry invested some N6.2 billion on electronic and print media advertising in 2020.
This was revealed recently in a 2020 Media Facts, West and Central Africa, an annual media advertising survey by Media Reach OMD.
In the analysis of the advertising spends, the sector expended N3.3 billion on print or 53.2 percent, while N2.1billion went to Television, or 33.87 percent, and N800.00 million was attracted by the country’s Radio stations, signifying 12.9 percent allocation.
In a holistic review of events of year 2020, an unusual period, the report revealed that global media disruption from COVID-19 was both rapid and severe, although brands were largely able to adapt to the immediate shifts in consumer behaviour and that there was a clear correlation between changes in user activity and advertising spend in the year.
Top Five Banks in Print Media Advertising in 2020
- Fidelity Bank: N800 million
- FirstBank:. N400 million
- Zenith Bank: N400 million
- Access Bank: N400 million
- UBA: N400 million
Fidelity Bank top the chart by expending N800million
Fidelity Bank is a full-fledged commercial bank operating in Nigeria, with over 5 million customers who are serviced across its 250 business offices and various other digital banking channels.
Focused on select niche corporate banking sectors as well as Micro Small and Medium Enterprises (MSMEs), Fidelity Bank is rapidly implementing a digital based retail banking strategy which has resulted in exponential growth in savings deposits over the last Six (6) years, with over 40 percent customer enrolment on the Bank’s flagship mobile/internet banking products.
Quoted on the Nigerian Stock Exchange (NSE), Fidelity Bank Plc began operations in 1988 as a Merchant Bank. In 1999, it converted to Commercial Banking and then became a Universal Bank in February 2001. The current enlarged Fidelity Bank is a result of the merger with the former FSB International Bank Plc and Manny Bank Plc in 2005.
First Bank: N400 million
First Bank of Nigeria Limited established in 1894, is the premier Bank in West Africa, Nigeria’s number one bank brand and the leading financial services solutions provider in Nigeria.
The Bank maintains the leading position in many of the markets in which it operates, market-leading distribution capability and a well-recognised brand with a large customer base.
With over 750 business locations in Nigeria, all on-line and real-time, the Bank has one of the largest domestic sales networks in the country. As a market leader in the financial services sector, FirstBank pioneered initiatives in international money transfer and electronic banking in the country, serving more than 14 million customer accounts.
Leveraging experience spanning over a century of dependable services, FirstBank has continued to build relationships and alliances with key sectors of the economy that have served as strategic building blocks for the well-being, growth and development of the country. With its huge asset base and expansive branch network, as well as continuous reinvention, FirstBank is Nigeria’s strongest banking franchise, maintaining market leadership on all fronts in the nation’s financial services industry.
Zenith Bank: N400 million
Zenith Bank Plc was established in May 1990, and commenced operations in July of the same year as a commercial bank. The Bank became a public limited company on June 17, 2004 and was listed on the Nigerian Stock Exchange (NSE) on October 21, 2004 following a highly successful Initial Public Offering (IPO). Zenith Bank Plc currently has a shareholder base of about one million and is Nigeria’s biggest bank by tier-1 capital. In 2013, the Bank listed $850 million worth of its shares at $6.80 each on the London Stock Exchange (LSE).
Headquartered in Lagos, Nigeria, Zenith Bank Plc has over 500 branches and business offices in prime commercial centres in all states of the federation and the Federal Capital Territory (FCT). In March 2007, Zenith Bank was licensed by the Financial Services Authority (FSA) of the United Kingdom to establish Zenith Bank (UK) Limited as the United Kingdom subsidiary of Zenith Bank Plc.
Zenith Bank also has subsidiaries in: Ghana, Zenith Bank (Ghana) Limited; Sierra Leone, Zenith Bank (Sierra Leone) Limited; Gambia, Zenith Bank (Gambia) Limited. The bank also has representative office in The People’s Republic of China. The Bank plans to take the Zenith brand to other African countries as well as the European and Asian markets.
Zenith Bank Plc blazed the trail in digital banking in Nigeria; scoring several firsts in the deployment of Information and Communication Technology (ICT) infrastructure to create innovative products that meet the needs of its teeming customers.
Zenith Bank Plc, founded by Jim Ovia in 1990, has since grown astronomically to become one of the leading financial institutions in Africa. Zenith Bank Plc currently ranks as the 6th biggest bank in the continent. The Bank grew its shareholder’s fund of ₦20million in 1990 to ₦704.50billion as at year end 2016. Today, the Bank continues to thrive on the strong values, brand equity, corporate culture of professionalism and service excellence which are the foundations upon which the bank was built.
Access Bank: N400 million
Access Bank Plc. is a leading full-service commercial Bank operating through a network of more than 600 branches and service outlets, spanning three continents, 12 countries and 31 million customers. The Bank employs 28,000 people in its operations in Nigeria and has subsidiaries in Sub-Saharan Africa and the United Kingdom (with a branch in Dubai, UAE) and representative offices in China, Lebanon and India.
Listed on the Nigerian Stock Exchange since 1998, Access Bank is a diversified financial institution which combines a strong retail customer franchise and digital platform with deep corporate banking expertise and proven risk management and capital management capabilities. The Bank serves its various markets through four business segments: Retail, Business, Commercial and Corporate. The Bank has over 900,000 shareholders (including several Nigerian and International Institutional Investors) and has enjoyed what is arguably Africa’s most successful banking growth trajectory in the last twelve years. Following its merger with Diamond Bank in March 2019, Access Bank became one of Africa’s largest retail banks by retail customer base.
As part of its continued growth strategy, Access Bank is focused on mainstreaming sustainable business practices into its operations. The Bank strives to deliver sustainable economic growth that is profitable, environmentally responsible and socially relevant, helping customers to access more and achieve their dreams.
UBA: N400 million
For more than seven decades, we have been providing superior financial services to small businesses, corporations, governments, institutions and individuals globally.
UBA has a large footprint across the globe operating in 20 African countries: Republique du Benin, Burkina Faso, Cameroun, Congo Brazzaville, Congo DRC, Cote d’lvoire, Gabon, Ghana, Guinea, Kenya, Liberia, Mali, Mozambique, Nigeria, Senegal, Sierra Leone, Tanzania, Tchad, Uganda and Zambia. The Bank also operates in the United Kingdom, the United States of America and with presence in France.
Today, UBA is one of the largest financial services groups on the African continent. The bank provides corporate, commercial, SME, consumer and personal (retail) banking services to more than 25 million customers, served through diverse channels: over 1,000 business offices and customer touch points (2,669 ATMs, 87,223 PoS, robust online banking and mobile banking, social media etc). Additionally, UBA offers pension custody and related services. The bank have proven expertise and capacity in key sectors of economies across Africa especially in Oil and Gas, Infrastructure Finance, Agric and Commodity/Export. Our Africa footprint positions us as a preferred partner for structured solutions to key governments and corporates operating in/into Africa. We know business across Africa.
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