• Home
  • About Us
  • Contact Us
Saturday, August 9, 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
    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

    Netflix

    Netflix Investments Give Life To Nollywood Projects

  • 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
    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

    Netflix

    Netflix Investments Give Life To Nollywood Projects

  • 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

Wema Bank Plc. Reports Gross Earnings of ₦131.1 billion, up 42.3% y-o-y, declares dividend of 30kobo per share

starliteadmin by starliteadmin
April 21, 2023
in Banking News, Business
0
Wema Bank
0
SHARES
0
VIEWS
Share on FacebookShare on WhatsAppShare on Twitter

Wema Bank Plc, Nigeria’s most innovative bank, has delivered a stellar fourth quarter 2022 performance and continues its evolution into an unrivalled market leader and efficient bank.

According to a press statement issued by the bank in respect of its audited financial results for the period ended December 31, 2022, the bank recorded gross earnings of N131.08 billion year on year, representing an increase of 42.3 percent over the N92.14 percent posted in 2021.

The results which showed positive fundamentals across board, revealed a growth of 44.7 percent year on year in interest income to N106.07 billion from N73.30 billion. Non interest income shot up to N25.01 billion to N18.83 percent, an increase of 32.8 percent.

Similarly, the bank’s profit before tax grew to an all time high of N14.74 billion year on year as against N12.38 billion the previous year, an increase of 19 percent.

According to the bank, shareholders will receive a dividend of 30 Kobo per  ordinary share in what is the biggest dividend payout till date.

The bank grew its deposit year by year by 26 percent as at full year 2022 to N1,165.93 billion from N927.47 billion in 2021. Its stock of loans and advances also grew from N418.86 billion in 2021 to N521.43 billion, showing a rise of 24 percent.

The impressive results showed that total assets hit N1,433.79 billion as against N1,164.52 trillion, a growth of 23 percent. Shareholders funds also moved up to N82.62 billion from N70.36 billion in 2021, an increase of 17 percent.

Commenting on the result, the Managing Director/Chief Executive Officer of the Bank, Mr. Moruf Oseni said, “Our 2022 results show the result of the careful execution if our medium term strategy as we have deliberately focused on deepening on offerings to the corporate, commercial and retail segments of the market using our digital channels while ensuring best in-class customer experience platforms to deliver improvements across all customer touch points. We expect the bottom line to improve even further in 2023.”

Also speaking on the result, the Bank’s Chief Finance Officer, Mr. Tunde Mabawonku, explained that the bank’s continuous investment in the digital space has positioned it as one of the leaders in providing digital banking services to individuals and corporates across the country.

“It has been a good full year performance for Wema Bank with gross earnings growing by 42.3 percent year on year and earnings by share at 87 kobo”, Mabawonku said.

“We have also succeeded in making Wema Bank an integral part of the fintech ecosystem in the country with our ubiquitous fintech infrastructure support play”, he further said.

Tags: Chief Finance OfficerManaging Director/Chief Executive Officer of the BankMr. Moruf OseniMr. Tunde MabawonkuNigeria's Most Innovative BankStarlitenewsWema Bank Plc
Previous Post

Onyeali-Ikpe, Olusanya Make Top 10 On 2023 Definitive List Of Women CEOs

Next Post

Access Holdings Announces N1.4trn Gross Earnings

starliteadmin

starliteadmin

Related Posts

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...

TAJBank

System Error: TAJ Bank Drops Court Case to Recover Funds Transferred to 26 Banks

by starliteadmin
July 25, 2025
0

TAJ Bank Ltd experienced a major system glitch in March, resulting in unauthorized transfers totaling N957.4 million to accounts across...

Zenith Bank

ZENITH BANK NAMED NIGERIA’S BEST BANK AT EUROMONEY AWARDS FOR EXCELLENCE 2025

by starliteadmin
July 21, 2025
0

Zenith Bank Plc has been named “Nigeria’s Best Bank” at the Euromoney Awards for Excellence 2025, emerging as Nigeria’s standout...

Dangote Foundation

Dangote Foundation distributes rice to 10,000 families in Bayelsa

by starliteadmin
July 9, 2025
0

The Aliko Dangote Foundation has flagged off the distribution of 10,000 bags of rice, each weighing ten kilograms, to vulnerable...

Ecobank

Ecobank Unveils Customer Value Proposition to Drive a Sustainable Education Ecosystem

by starliteadmin
July 7, 2025
0

Ecobank Nigeria, an affiliate of the leading pan-African banking group, Ecobank Group, has announced a comprehensive suite of innovative financial...

Next Post
Access Bank

Access Holdings Announces N1.4trn Gross Earnings

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

  • NCAA Suspends KWAM1 from Air Travel for Six Months Following Airport Incident (Vide)
  • Joy in Akwa Ibom as ADF distributes rice to vulnerable citizens
  • President Tinubu gives D’Tigress $100,000 each, flats, national honour
  • Ekiti State Residents Benefit from Fidelity Food Bank Programme
  • Air Peace Holds Strategic Retreat to Boost Leadership and Customer Experience After Heathrow Slot Win
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/2024/05/24/acheter-metformine-sans-ordonnance-en-pharmacie/
  • https://starlitenews.com.ng/2024/11/23/fidelity-bank-to-give-out-n159million-in-gaim-6-promo/
  • https://starlitenews.com.ng/2024/04/24/dr-bldr-abdulhakeem-odegade-akmodel-m-d-commends-redan-election-congratulates-new-executives-photos/
  • https://starlitenews.com.ng/2024/10/27/dangote-backs-tinubus-cng-drive-invests-over-280m-in-trucks-infrastructure/