Wema Bank reports 20.07% growth in gross earning

Wema Bank Plc has announced the growth of its gross earnings by 20.07 per cent to N65.27 billion for the year ended December 31, 2017.

The company’s audited financial result just released showed the performance is a great improvement over N54.36 billion gross earnings for the same period in 2016.

The bank’s Managing Director/Chief Executive Officer, Segun Oloketuyi, explained that despite the slow start to the year, 2017 recorded significant progress, highlighted by the introduction of the investors & exporters (I&E) forex window and recovery in oil prices.

The growth, according to him is supported by the launch of ALAT – a fully digital bank, which enhance the bank’s already existing alternate platforms which recorded a combined growth rate of 205.67 per cent in transactions executed and with an estimated 30,000 accounts opened monthly.

The target market of the bank is the upwardly mobile youth segment, the young entrepreneurs, the young professionals and the financially excluded.

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