The Nation Newspaper Wema Bank records 196% rise in PBT to N14.7b
has recorded Profit Before Tax growth of 196 per cent to N14.7 billion in its full year results for the period ended December 31, 2023.
The bank, which has N40 billion first tranche of capital raise awaiting final regulatory approvals, achieved Return on Equity of 39.28 per cent and non-performing loan ratio of 4.31 per cent. “We also completed our N40billion Capital raise exercise . This exercise actively positioned us for the new capital licensing requirements of the Central Bank of Nigeria. Wema Bank will accelerate its capital management plans and ensure we embark on the journey to raise the required capital as quickly as possible.
In the months ahead, we would be developing platforms and supporting initiatives that prioritize the needs of our customers, leveraging technology in solving problems across all sectors.
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