• Home
  • About Us
  • Contact Us
Saturday, August 23, 2025
Star Lite News
  • Home
  • News
    • All
    • Business
    Natasha Akpoti-Uduaghan

    “My Suspension Was Fraudulent” – Natasha Akpoti-Uduaghan Challenges Akpabio, Denied Access to NASS

    SunTrust Bank

    $12M Money Laundering Trial: SunTrust Bank MD Halima Buba, Executive Face EFCC Witness Testimony in Court

    Buhari

    National Tribute: Public Holiday Declared in Memory of Buhari’s Service to Nigeria

    Okpebholo

    Governor Okpebolo Floors PDP At The Supreme Court

    NYSC

    NYSC Sanctions Corps Member Raye Over Criticism of President Tinubu, Sparks Outrage

    Suspension

    Benue Governor Alia Suspends Chief Press Secretary Indefinitely

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Chief Kanran

    Legendary Actor Segun Remi, Aka Chief Kanran, Passes On

    Tom Njemanze

    Nollywood Loses Another Legend: Tom Njemanze Passes Away

    Mike Ejeagha

    ‘Gwogwogwo’ Music Legend Mike Ejeagha, Dies At 95 After Battling Prostate Cancer For 16 Years

    AMVCA

    AMVCA 2025 Awards: Full List Of Winners As Chioma Chukwuka, Femi Adebayo Win Best Actress, Actor

    Nathaniel Bassey

    Nigeria’s Gospel Music Maestro Nathaniel Bassey To Minister At Trump’s Inaugural Prayer Breakfast

    Doris Ogah

    Doris Ogah Becomes 45th Miss Nigeria

  • Lifestyle
    • All
    • Food
    GTCO Food and Drinks Festival

    Announcing The 2024 GTCO Food And Drink Festival: A Celebration Of Authentic Flavours

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
  • Home
  • News
    • All
    • Business
    Natasha Akpoti-Uduaghan

    “My Suspension Was Fraudulent” – Natasha Akpoti-Uduaghan Challenges Akpabio, Denied Access to NASS

    SunTrust Bank

    $12M Money Laundering Trial: SunTrust Bank MD Halima Buba, Executive Face EFCC Witness Testimony in Court

    Buhari

    National Tribute: Public Holiday Declared in Memory of Buhari’s Service to Nigeria

    Okpebholo

    Governor Okpebolo Floors PDP At The Supreme Court

    NYSC

    NYSC Sanctions Corps Member Raye Over Criticism of President Tinubu, Sparks Outrage

    Suspension

    Benue Governor Alia Suspends Chief Press Secretary Indefinitely

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Chief Kanran

    Legendary Actor Segun Remi, Aka Chief Kanran, Passes On

    Tom Njemanze

    Nollywood Loses Another Legend: Tom Njemanze Passes Away

    Mike Ejeagha

    ‘Gwogwogwo’ Music Legend Mike Ejeagha, Dies At 95 After Battling Prostate Cancer For 16 Years

    AMVCA

    AMVCA 2025 Awards: Full List Of Winners As Chioma Chukwuka, Femi Adebayo Win Best Actress, Actor

    Nathaniel Bassey

    Nigeria’s Gospel Music Maestro Nathaniel Bassey To Minister At Trump’s Inaugural Prayer Breakfast

    Doris Ogah

    Doris Ogah Becomes 45th Miss Nigeria

  • Lifestyle
    • All
    • Food
    GTCO Food and Drinks Festival

    Announcing The 2024 GTCO Food And Drink Festival: A Celebration Of Authentic Flavours

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
Star Lite News
No Result
View All Result
Home Banking News

Why We Are Delivering Value And Growing our Numbers – Adebise

starliteadmin by starliteadmin
August 12, 2022
in Banking News, Business
0
0
SHARES
0
VIEWS
Share on FacebookShare on WhatsAppShare on Twitter

The Managing Director/CEO of Wema Bank Plc, Mr. Ademola Adebise, has explained the facts behind the bank’s growing numbers during the half year ended June 30, 2022.

Wema Bank recently released its second quarter unaudited financial result for the period ended June 30, 2022, showing a 50 percent increase in its Gross Earnings from N39.82 billion recorded in 2021 to N59.59 billion H1 2022. The bank also grew its deposit by 43 percent from N968.17 billion reported in FY 2021 to N1.09 trillion in H1 2022.

Similarly, Wema Bank recorded a 43 percent increase in Profit before tax (PBT) from N4.30 billion over the same period last year to N6.13 billion for the period under review.

Speaking at the analyst’s conference and Investors’ call, Mr Adebise said: “Our digital channels remain a priority in meeting customer needs and closing the financial inclusion gap.

‘With a transaction value of N131.5 billion, USSD recorded over 58.6 million in transaction count (+55%), reaffirming our focus to grow channel usage.

“Mobile banking users completed over 42.8 million transactions within the review period, further driving the financial inclusion initiative.

“With over 50% growth in agent acquisition, our agency banking base increased to 140k accounts, at the end of the six months review period (H1 2021: >102k). This helps to further enhance performance across our financial inclusion initiatives. The value of agency funds transfer closed at N7.59bn in H1 2022, a 34% y-o-y growth. The stellar growth in agency transfer volume by 550k% was driven by signing-on of new partners”, he said.

According to the Wema Bank MD, the bank’s agency banking solutions will continue to provide support to customers mostly in the rural areas and hard-to-reach regions of the country.

“So far, we have over 21,000 agents attending to the financial service needs of these customers,” Mr Adebise added.

The bank’s Chief Finance Officer, Mr. Tunde Mabawonku, said the results point to the resilience and growth trajectory of the bank during the review period.

According to him, the bank has achieved efficiency in its balance sheet by managing growing deposits and rising interest rate. He also disclosed the bank has achieved an efficient mix of its deposit portfolio by bringing down the cost of funds.

Mabawonku hinted the bank’s N40 billion rights issue would open and be concluded during the year, a development he said would deliver more value to shareholders.

Tags: Chief Finance OfficerManaging Director/CEO of Wema Bank PlcMr Ademola AdebiseMr. Tunde MabawonkuStarlitenewsWema Bank Plc
Previous Post

Don Jazzy loses mother to cancer

Next Post

Nigeria Is Facing Existential Threat – World Bank Warns

starliteadmin

starliteadmin

Related Posts

Dangote Cement Plc

Dangote Cement Re-trains Hundreds of Truck Drivers to Boost operational efficiency

by starliteadmin
August 22, 2025
0

Management of Dangote Cement Plc (DCP) has expressed its irrevocable commitment to training and constant retraining of its truck drivers...

Zenith Bank

ZENITH BANK MARKS 35 YEARS ANNIVERSARY, CELEBRATES PIONEER CUSTOMERS AND LONG-SERVING STAFF

by starliteadmin
August 18, 2025
0

Amidst pomp and pageantry layered with a mixture of glitz and glamour, Zenith Bank Plc marked its 35th year anniversary...

EcoBank

Ecobank’s InnovateX Challenge Awards ₦20 Million to Young Nigerian Changemakers

by starliteadmin
August 15, 2025
0

Kola Adeleke, Executive Director of Commercial and Consumer Banking at Ecobank Nigeria, has stated that the InnovateX Challenge was created...

Dangote Refinery

Dangote Refinery Reduces Petrol Price to ₦820, Rolls Out 4,000 CNG Trucks

by starliteadmin
August 12, 2025
0

In a move aimed at easing fuel costs and promoting cleaner energy distribution, Dangote Petroleum Refinery has slashed the ex-depot...

Dangote Cement

Minister Extols Dangote Cement, Seeks Partnership To Bridge Housing Gap

by starliteadmin
July 30, 2025
0

Minister of Housing and Urban Development, Ahmed Musa Dangiwa, has lauded the Dangote Cement Plc for its contributions to the...

Dangote Cement

FOOD PRODUCTION: MINISTER LAUDS DANGOTE CEMENT OVER FARMERS’ EMPOWERMENT

by starliteadmin
July 25, 2025
0

Minister of Solid Mineral Development, Mr. Dele Alake has lauded the management of Dangote Cement, Ibese for its contributions to...

Next Post

Nigeria Is Facing Existential Threat - World Bank Warns

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

  • Tinubu and Timothy

    Prince Chukwudi Timothy Appeals For Dialogue Instead Of Nationwide Protest

    0 shares
    Share 0 Tweet 0
  • Peter Obi says victory of Christ the King College at World Affairs Challenge heartwarming

    0 shares
    Share 0 Tweet 0
  • Family reveals Ifeanyi Ubah’s burial date

    0 shares
    Share 0 Tweet 0
  • ACEACRES24: Akmodel MD Makes Presentations At The 2Days Event (Photos)

    0 shares
    Share 0 Tweet 0
  • Legends of Nollywood Financial Summit Is Here, Meet The Speakers: Apostle Anselm Madubuko, Mrs. Bukola Agbaminoja, Pst. Moji Bakare Asieru-sweet, Others

    0 shares
    Share 0 Tweet 0

Recent Posts

  • Rising Star officialJaceBen Set to Drop New Single “PRESSURE” on August 25
  • Dangote Cement Re-trains Hundreds of Truck Drivers to Boost operational efficiency
  • Fidelity Bank Restores International Transactions on Naira Debit Cards with Added Travel Benefits
  • ZENITH BANK MARKS 35 YEARS ANNIVERSARY, CELEBRATES PIONEER CUSTOMERS AND LONG-SERVING STAFF
  • Rising Star OfficialJaceBen Balances Music, Sports, and Studies Ahead of New Release
Starlite news icon

Browse by Category

Archives

  • Home
  • About Us
  • Contact Us

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.

No Result
View All Result
  • Contact Us
  • About Us
  • Business
  • Politics
  • World
  • Entertainment
  • Lifestyle

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.

  • https://starlitenews.com.ng/2024/01/31/fidelity-bank-supports-temile-development-company-to-boost-nigerias-gas-revenues/
  • https://starlitenews.com.ng/2024/12/20/doris-ogah-becomes-45th-miss-nigeria/
  • https://starlitenews.com.ng/2024/11/17/dangote-cement-ibese-fetes-senior-citizens-in-host-communities/