Wema Bank crosses N1tn in assets
Wema Bank has announced it has crossed the N1trillion mark in total assets.
The Bank’s Managing Director, Ademola Adebise made this known in a statement which was seen by WesternPost.
“I am delighted to announce our performance for the year ended 31st December 2021,” he said.
“The bank’s final year 2021 results show robust growth in all key financial metrics despite the challenging macro-economic environment.
“Our year end numbers highlight the strong growth trajectory of the financial institution. We comfortably crossed the N1trillion mark in total assets, with a share of approximately three per cent of industry deposits.”
According to the statement, Wema Bank also recorded an increase of 108.3 per cent in profit before tax to close the year at N12.38billion.
This was driven by a year-on-year growth of 15.35 per cent in gross earnings to N92.14billion in FY 2021, from N79.88billion in FY 2020.
The Chief Finance Officer of the bank, Mr Tunde Mabawonku, said: “A key measure of success for us is a consistent growth in our balance sheet and customer base – and we are glad that we are reporting healthy growth in all these areas.”
