Zenith Bank stands out as one of Nigeria’s leading and most robust financial entities. With shareholders’ equity exceeding N355 billion at the close of 2019, it presents a compelling opportunity for investment and purchasing shares that can yield impressive returns. The bank currently has more than 31 billion ordinary shares available. Here are the steps you need to follow to buy shares in Zenith Bank.
How to buy shares in zenith bank
To purchase shares in Zenith Bank, you need to ensure that they are available on the Nigerian Stock Exchange (NSE). The NSE serves as the official trading platform where you can buy and sell stocks, including those of Zenith Bank. Trading occurs on this exchange every business day. Zenith Bank’s shares have been listed on the NSE since 2004. Here are two methods to acquire shares in Zenith Bank.
Buying Zenith Bank shares via a Stockbroker
To start buying shares in Zenith Bank, you first need to engage the services of a registered stockbroker affiliated with a stockbroking firm. Shares cannot be simply purchased from a physical location; they are traded between buyers and sellers.
A stockbroker plays a crucial role in connecting these two parties, facilitating the execution of buy or sell orders on your behalf as well as for the seller. Additionally, stockbrokers offer comprehensive market insights, such as the closing prices of the day.
To purchase shares in Zenith Bank, the first step is to create an account with a stockbroking company. You’ll need to meet a minimum deposit requirement, which varies based on the firm’s policies. This deposit typically covers various fees, such as those for their services and regular updates regarding your investments. Once your account is set up, you can place orders to buy or sell shares, which the brokerage will then execute
To purchase shares in Zenith Bank, you will need to present a form of identification. This includes your Bank Verification Number (BVN), a signature, passport-sized photos, and other necessary documentation. The process may involve exchanging several documents.
Fortunately, with the advancements in technology and the internet, you can complete this procedure online through stockbroker platforms or applications. Simply register on their website and upload all the required information to get started.
To purchase shares in Zenith Bank, your stockbroker will take care of all the necessary steps upon your instruction. To monitor your account activities directly, it’s essential to set up a Central Securities Clearing System (CSCS) account. This account provides you with access to all accounts overseen by stockbrokers, allowing you to view your investment portfolio independently, without relying on your stockbroker.
To buy shares in Zenith Bank, start by funding your stockbroker account. Include clear instructions regarding the quantity of shares you intend to acquire. You can do this through the stockbroker’s mobile application or via their email service.
You will receive a response from your stockbroker once the process is complete. The entire transaction for buying shares in Zenith Bank typically takes around four days to finalize.
Buy Zenith Bank shares via Wealth.ng app
If you’re looking to invest in Zenith Bank shares, the Wealth.ng app is an excellent option. This user-friendly platform allows you to buy shares and manage your investments conveniently from home. To get started, simply visit the Wealth.ng website, create an account, and enter the required information. Once registered, you can easily navigate the intuitive interface to select and purchase shares in Zenith Bank.
How can I Sell my Zenith Bank shares
The process of selling your Zenith Bank shares is quite similar to buying them, with a few minor distinctions. Given their consistent demand, you can expect to complete a sale relatively quickly—often within a single day. If you’re looking to sell your shares in Zenith Bank, follow these straightforward steps.
To purchase shares in Zenith Bank, the first step is to set up a Central Securities Clearing System (CSCS) account. This account is essential for transforming your physical share certificate into tradable market stock.
To sell your Zenith Bank shares, the first step is to dematerialize your share certificate through a stock brokerage firm. Select a reputable brokerage listed on the NSE website. If you don’t already have an account with them, you will need to set one up and provide valid identification. The stockbroker will then handle the sale for you.
You will need to allow some time for the transaction to process. This can take as long as four days, and your stockbroker, who acts as your clearing house representative, will inform you once it is completed.
Once the transaction is completed, the funds from the sale of your Zenith Bank shares will be credited to your stockbroker’s account. You can then withdraw your money from the stockbroker, which may take as long as 24 hours to process.