Wema Bank, Nigeria’s leading innovative and digital-led financial institution has reassured its esteemed customers and shareholders that it remains standing on strong financial fundamentals and reliable performance metrics, riding on the back of seasoned and astute leadership.
Officer, Ademola Adebise, while reacting to a recent publication in the media
purportedly alleging a dip in its liquidity status following the unaudited report for
2020 with the MD/CEO saying the report is only a deliberate campaign to create
panic among its stakeholders using false news, and therefore should be
isolated performance of one outlier year. The said report based a lot of its false
allegations on the unaudited 2020 financial year. But that was a year when COVID-
19 induced a lockdown and a disruption of such magnitude that negatively impacted
businesses, industries and economies the world over.
over the years with a 30.95% increase in earnings recorded in just 2019. Then came
2020, and in spite of the difficulties, we succeeded in achieving impressive results in
key areas such as net earnings from fees and commissions, while growing the
Bank’s asset base significantly.
increase in customer deposits over the previous year. This is an audacious show of
confidence from the customers of Wema Bank.
sheet optimization approach which will be affirmed by the time the audited and
official 2020 Financial Report is released in the coming weeks “
The CEO also referenced how well the Bank’s performance in the said 2020 makes it
one of the best performing financial institutions in the land.
recognition of our unrivalled support for small and medium scale businesses
through loans, business advisory, and ease of payments and transactions.
Wema Bank making significant growth in the retail category, climbing up ten (10)
places from the previous year to 2nd position, with an above industry average of
74.6% Customer Experience score. This achievement is a mark of dedication to
excellent customer service and refreshing support for all our customer categories.”
Personalization, Integrity, Expectations, Resolution, Time & Effort and Empathy, and
Wema Bank has showed a mastery of these pillars and have been outstanding at all
solutions for societal impact, it successfully organized the second edition of
Hackaholics, a radical gathering of developers, web designers and creative thinkers
to develop solutions around key themes of Education, Health, Agriculture, Fintech,
Gaming & Betting.
economic evolution and social inclusion.
“We are a responsible corporate citizen with empathy as a core pillar of our
pandemic with significant support for governments at both the federal and state
Hunger, we supported State Governments with food palliatives donation which
alleviated the conditions of over 80,000 households of the most vulnerable
segments of the population.”
With all these financial and non-financial performance metrics, it is not in doubt that
Wema Bank is not only standing strong, it is also among the best performing
financial institutions in Nigeria, in 2020.
A support that has remained a critical pillar of our stability and growth over the
years, especially as we celebrate our 76th anniversary.
corporate purpose of making life easier and better through innovation and digital-
driven lifestyle solutions for Nigerians and their businesses.” Adebise concluded.