• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Thursday, July 3, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Wema Bank Refutes Distress Report, Says It’s Standing Strong

by Bukola Aro-Lambo
1 year ago
in Business
Wema Bank
Share on WhatsAppShare on FacebookShare on XTelegram

Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, said it was not in distress and its depositors were not in panic, following what it called unsubstantiated reports in some sections of the media.

Advertisement

The bank said rather than bow to pressure from some peddlers of distasteful news, it has been receiving praises and commendation from customers and shareholders nationwide following its unprecedented 2023 financial performance as captured in the bank’s Q3 2023 Financial Results.

 

According to the Q3 results referenced, Wema Bank’s Profit Before Tax [PBT] skyrocketed by a whopping 130% in 2023, with a recorded N21.76billion [Q3] against the previous year’s N9.46billion. This upsurge extended to other financial parameters—one of them being Gross Earnings as the bank achieved a 61% increase in Gross Earnings, going from Q3’s N93.86billion to ₦150.90billion in Q3 2023.

 

RELATED

Federal Gov’t Gives IBEDC 7 Days To Reinstate Sacked 3,000 Workers

AMCON Begins Asset Resales, Sells IBEDC For N100bn

1 hour ago
JUST-IN: NCAA Suspends All 737 Aircraft In Max Air Fleet

NCAA Names Max Air ‘Most Unresponsive Domestic Airline’ To Passenger Complaints

6 hours ago

A statement from the bank on Wednesday said: “Beyond these impressive results, the bank additionally earned the commendation of customers across Nigeria for its evident success in combating fraud and ensuring financial security for customers, as results revealed that bank had reported legal claims in the sum of N8billion and recorded the least reported fraud losses in the sum of N239.92million in 2023, a staggering 73% reduction in comparison to previous figures.

 

“Contrary to the information being circulated, the bank’s depositors are not in panic because this information is not a discovery. These are disclosure items required of banks in their AFS, which Wema bank have made same public on the pages of her financial statements.

 

“In view of Wema Bank’s extraordinary financial growth and progress within just one year, customers and shareholders applaud the pioneering bank in anticipation of the successes to be unravelled as the trajectory of Wema Bank’s journey soars on an upward incline.

“Wema Bank, as usual, continues to exceed all expectations and hit seemingly impossible targets, earning the loyalty of Nigerians across Nigeria. The solid range of initiatives and diverse solutions offered by Wema Bank both online and offline gives substance to the bank’s rising numbers. It is no surprise that financial results are significantly improving by the day.”


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Wema Bank
SendShareTweetShare
Previous Post

Court Rules NBC Cannot Fine Broadcast Stations

Next Post

Handball: Nigeria Loses 26-24 To Angola In African Championship Opener

Bukola Aro-Lambo

Bukola Aro-Lambo

You May Like

Federal Gov’t Gives IBEDC 7 Days To Reinstate Sacked 3,000 Workers
Business

AMCON Begins Asset Resales, Sells IBEDC For N100bn

2025/07/03
JUST-IN: NCAA Suspends All 737 Aircraft In Max Air Fleet
Business

NCAA Names Max Air ‘Most Unresponsive Domestic Airline’ To Passenger Complaints

2025/07/03
Savannah Energy Empowers 100 Students
Business

Savannah Energy Empowers 100 Students

2025/07/03
BIC Reaffirms Commitment To Youth Empowerment Through Creative Initiatives
Business

BIC Reaffirms Commitment To Youth Empowerment Through Creative Initiatives

2025/07/03
Ecobank Nigeria To Reward  500 Customers
Business

Ecobank Group, Google Cloud Partner To Accelerate Financial Inclusion, Innovation Across Africa

2025/07/03
Don’t Rush Into Businesses You Know Nothing About, Stakeholders Warn Retirees
Business

Businesses Sustain Positive Growth Momentum Despite High Prices

2025/07/03
Leadership Conference advertisement

LATEST

INEC Releases Supplementary Guidelines On Election Result Review

JUST-IN: Ex-Eagles Goalkeeper Peter Rufai Dies At 61

PICTORIAL: VP Shettima Visits Kano To Condole With Dantata’s Family

South Africa’s Thembi Shilenge Features At Crypto Content Creator Campus In Dubai

Court Dismisses Gani Adams’ N5bn Defamation Suit Against Sunday Igboho

AMCON Begins Asset Resales, Sells IBEDC For N100bn

FCT Primary School Teachers To Call Off Strike After Wike’s Intervention

WHO Launches Global Push For 50% Tax Hike On Tobacco, Alcohol, Sugary Drinks 

Court Sentences Kano TikToker ‘Tsulange’ To Jail Over Indecent Conduct

Federal Gov’t Approves 37 New Evacuation Routes To Curb Oil Theft

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.