• Home
  • About Us
  • Contact Us
Tuesday, September 26, 2023
Star Lite News
  • Home
  • News
    • All
    • Business
    Nigeria Passport

    Immigration Cleared 60,000 Passports Backlog In 4 days, Says FG

    Canada

    Canada Announces Visa-free Air tTavel Policy For Nigerians, Others

    Dr. Akintoye Akindele

    Platform Capital Chairman, Dr. Akintoye Akindele Is Innocent Of Allegations By The Late MKO Abiola Family

    NDLEA

    NDLEA Partner Naira Marley To Tackle Drug Abuse

    Dangote Cement

    Lawyer Bags Six Months Imprisonment Over Libelous Publication Against Dangote

    “All Eyes on the Judiciary”

    FG Orders Removal Of ‘All Eyes On The Judiciary’ Billboards Nationwide

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Nuel Asii

    New Release: Rescue by Nuel Asii

    Senator

    Senator To Meet Cycling Davido’s Fan, Pledges To Sponsor His Music Career

    Sinead O’Connor’s

    Irish Singer Sinéad O’Connor Dies Aged 56

    Davido

    U.S City Declares July 7 As Davido Day

    Iyabo Oko

    Veteran Nollywood Actress, Iyabo Oko Is Dead

    Al Pacino

    Al Pacino, 83, Set To Become Father Again After Revealing Girlfriend, 29, Is Pregnant

  • Lifestyle

    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
    Nigeria Passport

    Immigration Cleared 60,000 Passports Backlog In 4 days, Says FG

    Canada

    Canada Announces Visa-free Air tTavel Policy For Nigerians, Others

    Dr. Akintoye Akindele

    Platform Capital Chairman, Dr. Akintoye Akindele Is Innocent Of Allegations By The Late MKO Abiola Family

    NDLEA

    NDLEA Partner Naira Marley To Tackle Drug Abuse

    Dangote Cement

    Lawyer Bags Six Months Imprisonment Over Libelous Publication Against Dangote

    “All Eyes on the Judiciary”

    FG Orders Removal Of ‘All Eyes On The Judiciary’ Billboards Nationwide

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Nuel Asii

    New Release: Rescue by Nuel Asii

    Senator

    Senator To Meet Cycling Davido’s Fan, Pledges To Sponsor His Music Career

    Sinead O’Connor’s

    Irish Singer Sinéad O’Connor Dies Aged 56

    Davido

    U.S City Declares July 7 As Davido Day

    Iyabo Oko

    Veteran Nollywood Actress, Iyabo Oko Is Dead

    Al Pacino

    Al Pacino, 83, Set To Become Father Again After Revealing Girlfriend, 29, Is Pregnant

  • Lifestyle

    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

First Bank

FirstBank Sponsors Africa International Trade Exhibition, New York, Promotes Foreign Direct Investment in the Continent

by starliteadmin
September 25, 2023
0

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, sponsored the Africa International Trade Exhibition (A.I.T.E...

Dangote Cement Prirce

Dangote Debunks News Reducing Cement Price

by starliteadmin
September 25, 2023
0

Dangot Debunks News Reducing Cement Price. Dangote Cement Prirce

Dangote Clean Air Factory

Clean Air: Dangote Cement Reaching For The Blue Skies

by starliteadmin
September 25, 2023
0

By Francis Awowole-Browne Air pollution has been identified as one of the greatest environmental risk to human health with far-reaching impacts owing...

Aliko Dangote

Corporate Performance: Dangote wins Brand of the Year Award

by starliteadmin
September 24, 2023
0

Africa’s foremost Conglomerate, Dangote Industries Limited (DIL) has bagged the Brand of the Year award, in recognition and celebration of...

Wema Bank

Hackaholiks Digital Summit 2023: Wema Bank Launches Africa’s Largest Gathering Of Innovators, Distruptors, Regulators, Policymakers, Investors & Customers In The Digital Space

by starliteadmin
September 20, 2023
0

Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has announced the launch of...

Fidelity Bank

Mayor of Houston Texas endorses Fidelity Bank’s Trade Expo (FITCC)

by starliteadmin
September 20, 2023
0

Fidelity Bank’s upcoming trade expo tagged, the Fidelity International Trade and Creative Connect (FITCC Houston), has received a major boost...

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

  • A Day With Legends of Nollywood

    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
  • RECRA 2023 Host Gov. Babajide Sanwo-Olu, Bldr. (Dr.) Abdulhakeem Odegade, Paul Obazele, Other Eminent Personalities

    0 shares
    Share 0 Tweet 0
  • Akmodel M.D. Bldr.(Dr.) Odegade, Mr. Olajide Lawal, Nancy Isime, Others Receives Award At Eko Heritage Awards (Photos)

    0 shares
    Share 0 Tweet 0
  • M.D Of AKMODEL GROUPS, Bldr. (Dr.) Odegade, Paul Obazele, Favour Benson, Mrs Janet Mordi (M.D Zekod Farms LTD.) Mr. Ralph (Viju Industries), Others Attends RECRA 2023 (Photos)

    0 shares
    Share 0 Tweet 0
  • Akmodel First Physical Allocation At Akmar Flourish Gardens Epe (Photos)

    0 shares
    Share 0 Tweet 0

Recent Posts

  • Erisco Foods Limited Arrests Customer For Complaining Of Excessive Sugar In Their Tomato Products
  • FirstBank Sponsors Africa International Trade Exhibition, New York, Promotes Foreign Direct Investment in the Continent
  • Dangote Debunks News Reducing Cement Price
  • Clean Air: Dangote Cement Reaching For The Blue Skies
  • Mohbad: We Heard But Did Not Listen
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.