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Tag: Wema Bank

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, […]

Wema Bank issues N25b bond to investors
Banking

Wema Bank’s best yet to come at 78 – MD

By Wilson Adekumola   One of the thriving commercial banks in Nigeria, Wema Bank, marked 78 years in the banking industry, saying that their best is yet to come.   According to Vanguard, the event took place in Lagos in Tuesday.   While speaking at the event, Managing Director/Chief Executive Director, Wema Bank, Mr. Moruf […]

Wema Bank raises N21bn capital, reaffirms commitment to rights issue
Banking featured

Wema Bank appoints Moruf Oseni new MD

Wema Bank Plc’s Board of Directors has appointed Moruf Oseni as its substantive Managing Director and Chief Executive Officer. Oseni will succeed Ademola Adebise after serving in an acting role beginning January 1, 2023, according to a news release released by the Bank on Saturday. Oseni started working at Wema Bank in 2012 as an […]

Wema Bank issues N25b bond to investors
Banking

Wema Bank issues N25b bond to investors

Wema Bank has issued a N25 billion bond to selected investors in order to strengthen its capital base. The bond will not be placed on any security exchange, according to a corporate notice dated Thursday and signed by the Corporate Secretary, Johnson Lebile. The notice read, in part:“Wema Bank Plc decided on the issuance of […]

Wema Bank hits record N12.6bn profit
Business

Wema Bank hits record N12.6bn profit

Wema Bank has reported a 41.7 per cent growth in profit after tax of N12.64 billion in 2022, having made N8.92 billion in 2021.   According to the bank, its gross earnings stood at N129.3 billion in the full year of 2022, up 38.1 percent from N93.63 billion in the full year of 2021.   […]

BUA, Wema enters NGX-30 index
Business featured

BUA, Wema enters NGX-30 index

BUA Foods Plc and Wema Bank Plc are now included in the NGX-30 index as they have reached the list of the most liquid equities on the Nigerian Exchange Limited. The top 30 firms in terms of market capitalization and liquidity are tracked by the NGX-30 index. Union Bank of Nigeria and Oando Plc had […]

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