Reliable sources close to Nairametrics indicate tier one lender Zenith Bank could earn close to N100 billion or more as gains from derivatives and treasury bills trading in the 2018 financial year.

The bank has consistently made hefty trading income in the last few years rising from N20 billion in 2016 to over N60 billion in the 2017 financial year.  

Who heads the trading desk? 

The trading desk of the bank is headed by Michael Anyimah. He is a 1997 graduate of Actuarial Science from the University of Lagos. He also obtained an MBA from the same institution in 2003. In addition, he is a CFA charter holder. 

From July 2005 to March 2008, he was an FX trader with Citigroup Nigeria. While there, he was responsible for developing foreign exchange risk hedges for clients. He was also responsible for the active foreign currency balance sheet management. 

He joined Zenith Bank in March 2008, as the Head of Foreign Exchange trading and Derivatives Sales and Trading. At Zenith, he manages the FX Trading Unit which trades the G7 currencies and the Naira against the G7 currencies. G7 currencies comprise currencies of the 7 industrialized countries namely the United States, Germany, France, Canada, Italy, Japan, and the United Kingdom. 

He also heads the unit in charge of Derivative sales and trading, taking proprietary positions and providing hedging solutions to clients foreign exchange and interest rate risks 

Zenith Bank is currently trading at N24.20 in today’s trading session on the Nigerian Stock Exchange, up  1.25%.

 Note

This story was published before the bank’s release of its full-year 2018 results today. Zenith made N80 billion as net trading income. Income was largely from treasury bills trading. 

Deal book 300 x 250
Deal book 300 x 250
Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

5 COMMENTS

  1. Good to know. though the post seems to be promoting one person. do you have to use a person’s picture to qualify the work of a company’s team? interesting

  2. Hi Onome Ohwovoriole,
    I am surprised with Michael Anyimah’s feat. Is it possible to connect us. I need a mentor to tutor me on trading T-bills. Thanks. Eric.

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