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Tag: Wema Bank

Wema Bank, NYSC collaborate on youth empowerment
Banking

Wema Bank profit rises by 105%

Wema Bank’s profit increased by more than 105 percent to N23.36 billion in 2023, from N11.35 billion the previous year. The PUNCH reported that according to the lender’s unaudited financial statement submitted with the Nigerian Exchange Limited on Tuesday, revenue increased by 61.36 per cent to N181.87 billion. Net interest income climbed to N83.11 billion […]

Wema Bank, NYSC collaborate on youth empowerment
Business

Wema Bank, Assembly Hub partner to train business owners

Sara by Wema and Assembly Hub have partnered together on their business accelerator program, “The Creative Class,” which aims to empower and upskill aspiring business owners in Africa’s thriving fashion sector. According to The Punch, a statement from Wema Bank revealed that the intensive 4-week accelerator program was created to give budding and established entrepreneurs, aged 21 […]

Wema Bank, NYSC collaborate on youth empowerment
Banking

Wema partners Wakanow to revolutionize digital banking, travel booking

Wema Bank and the first digital bank, ALAT, have teamed with Africa’s leading travel technology business, Wakanow, to integrate digital banking and smooth airline bookings through the ALAT platform, The Punch reported that part of the statement read, “This ground-breaking partnership aims to revolutionize banking and financial services in Nigeria by providing Nigerians with a simple […]

Wema Bank launches Hackaholics digital summit
Banking

Wema Bank launches Hackaholics digital summit

Wema Bank has announced the establishment of the Hackaholics Digital Summit, which will bring together Africa’s digital innovators, disruptors, regulators, policymakers, investors, and customers. The Punch reported that the summit will act as a hub for exchanging knowledge, ideas, and best practices in the tech sector in order to positively transform technology and innovation not only […]

Flutterwave secures international transfers license in Malawi
Business

Wema Bank, Flutterwave introduce digital FX product

Flutterwave in partnership with Wema Bank and Kadavra, has introduced Swap, a product aimed at digitizing Nigerians’ access to foreign exchange. The Punch reported that corporations stated that this solution provided consumers with a cohesive digital platform while also streamlining and improving the FX experience. Flutterwave said in a statement that users of Swap would receive specialized cards, […]

WEMA, Mastercard partner on SME training for 10,000 women
Business

WEMA, Mastercard partner on SME training for 10,000 women

WEMA Bank claims that by providing them with support and training in a variety of enterprises and professions, it will empower 10,000 young women. According to The Punch, it stated that action would be taken in cooperation with Mastercard and the Pan-Atlantic University Entrepreneurial Development Centre. The alliance, according to the executive director for retail and digital business […]

Wema Bank, NYSC collaborate on youth empowerment
Banking

Wema Bank records 109.57% profit increase in Q2 2023

Wema Bank announced its 2023 second-quarter results, revealing that pre-tax profits increased by 109.57% year on year, reaching N5.87 billion. According to The Times, pre-tax profits for the first half of the year increased from N6.103 billion to N12.059 billion as a result. The huge expansion in net interest income as well as net fees […]

Wema Bank, NYSC collaborate on youth empowerment
Banking

Wema reports half year increase

Wema Bank said that its unaudited results for the six-month period ending June 30th, 2023, showed increased performance, including gross earnings of 89.09 billion, a 49% rise from the prior year (H1 2022: 59.59 billion). While non-interest income increased 32% year over year to $12.98 billion (H1 2022: $9.85 billion), recorded interest income increased 53% […]

Banking

Wema reports half year increase

Wema Bank said that its unaudited results for the six-month period ending June 30th, 2023, showed increased performance, including gross earnings of 89.09 billion, a 49% rise from the prior year (H1 2022: 59.59 billion). While non-interest income increased 32% year over year to $12.98 billion (H1 2022: $9.85 billion), recorded interest income increased 53% […]

Wema Bank, NYSC collaborate on youth empowerment
Banking

Wema Bank increases staff salaries to cushion rising cost

Wema Bank has increased the salaries of staff in order to compensate them for the removal of fuel subsidies. The bank claimed that because employee welfare was a top priority, this was necessary. The bank also stated that in light of the current economic conditions, which have seen recent increases in the cost of fuel, electricity, and other commodities, firms […]

Wema Bank, NYSC collaborate on youth empowerment
Banking

Wema Bank lifts foreign transactions ban on naira cards

The ban on foreign transactions using naira cards by Nigerian lender, Wema Bank has been lifted. The bank announced the lifting of the ban on overseas transactions made with naira cards in a letter to its customers. This implies that clients who use the bank’s Mastercard can now make purchases with their Naira debit cards. […]

Investors make N182bn in one week
Business

NGX 30 index drops Wema Bank, Custodian Investment

Wema Bank Plc and Custodian Investment Plc were dropped from the NGX 30 as a result of the 2022 market index review. The NGX released a statement on the findings of its half-year market index review for the NGX 30, NGX Lotus Islamic, NGX Pension, Corporate Governance Index, Afrinvest Bank Value Index, Afrinvest Dividend Yield Index, […]