Wema Bank has announced its financial results for the year ending December 31st, 2023, showing significant growth in profit before tax and deposits. The bank recorded a profit before tax growth of 196% and a deposit growth of 60%. The MD/CEO, Mr. Moruf Oseni, expressed satisfaction with the bank's performance and highlighted the improvements in various financial indicators.
yearend result for December 31st, 2023, has placed the bank in good stead as far as its financial position is concerned, The Nation can report.
While commenting on the results, the MD/CEO, Mr. Moruf Oseni said, “2023 showcased a revitalised Wema Bank as evidenced by the considerable improvements in our numbers. The performance is headlined by impressive improvements in Profit before Tax which grew strongly by 196%. The growth of Gross Earnings by 72%, Total Assets by 56% and earnings per share at 279.5 kobo shows the core improvements to our balance sheet. In addition, our cost to income ratio at 64.
“We have partnered with the Federal Government on upskilling two million MSMEs, provided engagement platforms for all NYSC members and are now implementing partnerships in health, education, women empowerment and in the green economy. In the months ahead, we would be developing platforms and supporting initiatives that prioritise the needs of our customers, leveraging technology in solving problems across all sectors.
Wema Bank Financial Results Profit Before Tax Deposit Growth Performance Improvements
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inspire Inclusion: A peep into Wema Bank’s she empowers her award by SaraWith the thematic preoccupation ‘Inspire Inclusion’, Nigerians, both men and women were not excluded in the celebration of the just concluded International Women’s Day (IWD), as every nook and cranny of the nation joined the world in the advocacy for gender equality, women empowerment and inclusion in all ramifications.
Read more »
Wema Bank lifts over 100 women with cashThe Nation Newspaper Wema Bank lifts over 100 women with cash
Read more »
Four Nigerian banks delay in filing 2023 financial resultsFour commercial banks have said they will delay filing their audited results for 2023. The United Bank for Africa, Zenith Bank, Stanbic IBTC and Wema Bank had announced that they would not meet the deadline for the filing of their audited results for the 2023 financial year.
Read more »
IWD: Journalist hosts luncheon for women in honour of WigweMs Ngwube said she was inspired by an event by Access Bank in 2023 for IWD.
Read more »
Access Bank acquires Kenya’s major bankThe Nation Newspaper Access Bank acquires Kenya’s major bank
Read more »
Access Bank To Acquire National Bank of KenyaThe Latest News from Nigeria and Around the World
Read more »