Wema Bank hits N1trn asset valuation despite N13.51bn revenue shortfall

Wema Bank hits N1trn asset valuation

Wema Bank hits N1trn asset valuation despite N13.51bn revenue shortfall     Despite a recorded decline in its revenue in 2020, Wema Bank Plc has grown its total assets to N1 trillion at the end of the same year. The lender recorded a sharp decline in revenue generated for the year on the back of the COVID-19 pandemic, its recently released financial statement shows. According to the bank’s financial statements released at the Nigerian Stock Exchange, the bank recorded a N13.51 billion shortfall in revenue for year 2020, as it…

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CBN approves appointment of Chukwuemeka Obiagwu as Wema Bank executive director

Wema Bank hits N1trn asset valuation

CBN approves appointment of Chukwuemeka Obiagwu as Wema Bank executive director   The Board of Directors of Wema Bank Plc. has announced the appointment of Chukwuemeka Obiagwu as an executive director of the bank effective from April 1, 2021. According to a statement signed by the bank’s Company Secretary/Legal Adviser, Johnson Lebile, the appointment has been approved by the Central Bank of Nigeria (CBN). The statement described Obiagwu as a multi-disciplinary professional with a background in accounting, insurance, corporate finance, stockbroking and public finance. He has over three decades experience in…

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Customers entrust Wema Bank with N701.84bn deposits in 9 month

Customers entrust Wema Bank with N701.84bn deposits in 9 month

Customers of Wema Bank Plc entrusted the lender with N701.84 billion worth of deposits within the first nine months of 2020. According to the latest financial report for the Q3 2020 released recently by the lender at the Nigerian Stock Exchange (NSE), the figure represents 21.6 per cent increase above what obtained in the comparative period of 2019. The result also shows that Wema Bank grossed earnings of N57.83 billion for the period, indicating a decline of -10.8 per cent from the value recorded in the corresponding period of last…

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