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Tag: Wema Bank

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 […]

Banking

10 banks raked in N1.57tn interest income in 2021 – Reports

Ten Deposit Money Banks in Nigeria earned a total of N1.57tn in net interest income last year, up from N1.49tn as of December 31, 2020. They are Union Bank Plc, Stanbic IBTC, Fidelity Bank Plc, Sterling Bank, Wema Bank, First City Monument Bank, Access Bank Plc, Guaranty Trust Bank, United Bank of Africa and Zenith […]

Banking News

10 banks lend customers N2.9tn in 12 months

Between December 2020 and December 2021, the combined loan portfolio of 10 Deposit Money Banks in Nigeria rose by N2.9tn, data collated from their audited financial statements show. The banks are Stanbic IBTC, Fidelity Bank Plc, Sterling Bank, Wema Bank, First City Monument Bank, Access Bank Plc, Guaranty Trust Bank Plc, United Bank for Africa […]

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