Kenyas Paramount Bank has strengthened its capital to 24 million, as Lagos-based financial services group Zenith Bank Plc, founded by Nigerian banker Jim Ovia, revealed plans to acquire the Nairobi-based lender . The move positions Paramount Bank to meet regulatory requirements and prepare for a potential takeover by one of West Africas top banks.
Paramount Banks core capital hits 24.04 million
Regulatory filings show Paramount Bank raised Ksh332 million 2.55 million through a rights issue, pushing its core capital to Ksh3.118 billion 24.04 million by the end of September. This compares with Ksh2.75 billion 21.2 million at the close of June 2025.