Ademola Adebise, the Managing Director/CEO of Wema Bank Plc, has outlined the realities behind the bank’s increasing numbers during the half year ending June 30, 2022.
Wema Bank recently revealed its unaudited financial results for the second quarter ended June 30, 2022, revealing a 50% increase in gross earnings from N39.82 billion in 2021 to N59.59 billion in H1 2022.
The bank’s deposit also increased by 43%, from N968.17 billion in FY 2021 to N1.09 trillion in H1 2022. Profit before tax (PBT) increased by 43 percent, from N4.30 billion to N6.13 billion.
“Our digital channels remain a focus on satisfying client demands and narrowing the financial inclusion gap,” Adebise said during the analysts’ conference and investor call.
With a transaction value of N131.5 billion, USSD logged over 58.6 million transactions (+55%), reinforcing our commitment to expanding channel utilization.
“During the evaluation period, mobile banking customers completed over 42.8 million transactions, significantly propelling the financial inclusion effort.”