Wema Bank Plc

Amid the improvement in loan quality, the non-performing loans (NPLs) of nine Deposit Money Banks (DMBs) reached an estimated N3.11 trillion in 2024, an independent investigation by InsideBusinessNG has shown. This is an increase…

For alleged failure to settle an indebtedness of N998,618,351.13 million, a Federal High Court, Lagos, has in the interim placed a lien on the several bank accounts of a businessman, Dare Osamo. In placing the lien on the businessman’s…

Wema Bank Plc has announced the official commencement of its capital-raising programme through a rights issue of over 14.28 billion ordinary shares  as part of efforts to meet the Central Bank of Nigeria’s (CBN) new recapitalisation…

The strength of Wema Bank to increase net profit by a 140 per cent to N86.3 billion in 2024 lies in accelerated revenue and the highest-ever profit margin record struck in the year. A strong final quarter accounted for one-third of revenue…

The strength to accelerate revenue for the third straight year in addition to cost savings has aided Wema Bank in powering its all-time profit of N52.7 billion at the end of the third quarter. Revenue growth and the slowing cost advantage…

The loan provisions of 10 Nigerian banks rose to N1.38 trillion in the third quarter (Q3) of 2024, about N113.46 billion higher than N1.26 trillion reported in the 2023 financial year as they move to reduce the negative impact of…

Wema Bank Plc has applied a strong revenue growth advantage to tide over surging bad loan losses and lift the bottom line two and half times year-on-year to N26.6 billion at the half year of 2024 Pressure from bad loans grew in the second…

Five Deposit Money Banks (DMBs) benefitted from the hike of the Monetary Policy Rate (MPR) to 26.25 per cent, generating N2.75 trillion in income from loans and advances and investment securities by the half-year of 2024 This is about a…

Wema Bank Plc is pressured by credit losses, which jumped more than ten times year-on-year to N1.1 billion in the first quarter of 2024, record growth in bad loan losses unmatched any time in the bank’s operating history. The N2.6…

Despite Fintech companies’ inducement with zero charges on customers' deposits and transfers, five banks generated a total of N419.12 billion for maintaining customers' accounts, and electronic- banking fees, among other fees in the 2023…