Wema Bank Reassures Improved Performance

Wema Bank Plc, has restated that it will continued to improved its performance as it aspired to become a tier one bank in the nearest future. 

The managing director/chief executive officer of Wema Bank, Mr. Moruf Oseni gave this assurance at the Bank 78th anniversary held yesterday in Lagos.

Oseni said that “I want to thank our customers for being with us over the years and also the staff especially the past workers of the Bank.”

He said the new management is standing on the collective efforts of the old staff of the organisation.

He stated further that the impressive performance seen in the Bank in recent time is to the relentless spirit and hard work of the employees.

“Our human capital resource remains the single most important factor in our upward trajectory and improved figures in recent times. They have been cracking difficult business puzzles and providing business solutions that solve business problems amazingly and incredibly,” he said.

He stated that the management is committed to reposition the Bank for improved performance.

He said the Bank’s recent financial results have been fantastic, saying the Bank will perform better in the remaining quarter of the year

According to Wema Bank MD, the Bank was comprises of Wema and National Bank and at a time these two banks were top banks in the country

“Our aim is to reposition the Bank to this position. We aspired to become a tier one bank in the instant future and this is what we are working on. 

This is our prospect.”

He also said “six years ago we launched a product called ALAT and over the past years it has brought us back to the front line of the banking in Nigeria.” 

The bank in the first quarter of the year ended March 31, 2023 reported gross earnings growth of 29.25 per cent to N39.596 billion as against N30.635 billion in Q1, 2022. Net interest income was N14.450 billion compared to N10.076 billion a year ago. Profit after tax for the period stood at N5.381 billion from N2.856 billion, an increase of 88.39 per cent, while earnings per share up by 88.29 per cent to N1.67 compared to N0.89 a year ago.