Wema Bank, Nigeria’s leading innovative and digital-led
financial institution has reassured its esteemed customers and shareholders
that it remains standing on strong financial fundamentals and reliable
performance metrics, riding on the back of seasoned and astute leadership.
The bank, through its Managing Director/Chief Executive
Officer, Ademola Adebise, commended its customers for their sustained trust in
the institution, especially on the occasion of the Bank’s 76th anniversary.
The bank has also reacted to a recent publication in the
media purportedly alleging a dip in its liquidity status following the
unaudited report for 2020 with the MD/CEO saying the report is only a
deliberate wicked campaign to create panic among the stakeholder using false news,
and therefore should be discountenanced,
He said, “The strength and viability of financial
institutions are not measured on the isolated performance of one outlier year.
The said report based a lot of its false allegations on the 2020 financial
year. But that was a year when COVID-19 induced a lockdown and a disruption of
such magnitude that negatively impacted businesses, industries and economies
the world over.
“Wema Bank has continually exhibited not just resilience,
but admirable viability over the years with a 30.95% increase in earnings
recorded in just 2019. Then came 2020, and in spite of the difficulties, we
succeeded in achieving significant increase in net fees and commission, while
growing the Bank’s asset base by over 37% to over N900billion.
“That’s not all, customer credibility in the bank was also
accentuated by over 40% increase in customer deposits from the previous year,
translating to more than N800 billion in 2020. This is an audacious show of
confidence from the customers of Wema Bank
“These performance metrics amongst others, are testament to
our smart balance sheet optimization approach, and will be affirmed by the time
the audited 2020 Financial Report is released in the coming weeks “
Commenting further on customer assurance and the integrity
of Wema Bank’s alternative transaction platforms, Adebise said, “we have been
credited with successful transaction of Nxxxx billion across our ATM and
e-channels in 2020; much as our xxx,xxx agents across the country who have
processed over xxx thousand/million transactions with astonishing values, also
in 2020. This is another testament to the stability and aspirational direction
of Wema Bank to navigate the uncertainties even post covid.
The CEO also referenced how well the Bank’s performance in
the said 2020 makes it one of the best performing financial institutions in the
land.
“We won the award for the Best SME Bank of the Year for 2020
from BusinessDay. A recognition of our unrivalled support for small and medium
scale businesses through loans, business advisory, and ease of payments and
transactions.
“Also, the recently published 2020 KPMG Customer Experience
Survey, showed Wema Bank making significant growth in the retail category,
climbing up ten (10) places from the previous year to 2nd position, with an
above industry average of 74.6% CX score. This achievement is a mark of
dedication to excellent customer service and refreshing support for all our
customer categories.”
The KPMG Customer Experience Survey grades banks over six
universal pillars of Personalization, Integrity, Expectations, Resolution, Time
& Effort and Empathy, and Wema Bank has showed a mastery of these pillars
and have been outstanding at all of them.
Furthermore, in line with the bank’s sustainability goal of
developing digital solutions for societal impact, it successfully organized the
second edition of Hackaholics, a radical gathering of developers, web designers
and creative thinkers to develop solutions around key themes of Education,
Health, Agriculture, Fintech, Gaming & Betting.
These are intentional measures put in place to sustain an
institution’s legacy of economic evolution and social inclusion.
“We are a responsible corporate citizen with empathy as a
core pillar of our personality. Thus, we stood by the nation in the trying
times of the COVID-19 pandemic with significant support for governments at both
the federal and state levels.
“Particularly to prevent severe food shortages and align
with the SDG of Zero Hunger, we supported State Governments with food
palliatives donation which alleviated the conditions of over 80,000 households
of the most vulnerable segments of the population.”
With all these financial and non-financial performance
metrics, it is not in doubt that Wema Bank is among the best performing
financial institutions in Nigeria in 2020.
“While detractors pursue their ulterior motives with various
campaigns of calumny, for us as a responsible and visionary organization, we
are staying committed to our corporate purpose of making life easier and better
through innovation and digital-driven lifestyle solutions for Nigerians and
their businesses.” Adebise concluded.
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