Wema Bank Meeting Customers’ Needs Through Digital Channels – MD

Ademola Adebise, the Managing Director/Chief Executive Officer, Wema Bank Plc, has disclosed that the bank is driving growth and meeting its customers’ needs through its digital channels.

Adebise disclosed this in a statement while explaining the facts behind the bank’s financial performance for the half year ended June 30, 2022.

Speaking at the analyst’s conference and investors’ call, Adebise said, “Our digital channels remain a priority in meeting customer needs and closing the financial inclusion gap.

“With a transaction value of N131.5 billion, USSD recorded over 58.6 million in transaction count (+55 per cent), reaffirming our focus to grow channel usage.

“Mobile banking users completed over 42.8 million transactions within the review period, further driving the financial inclusion initiative.”

According to him, the bank’s agency banking solutions would continue to provide support to customers mostly in the rural areas and hard-to-reach regions of the country.

“So far, we have over 21,000 agents attending to the financial service needs of these customers,” Adebise said.

For the financial period ended June 30, 2022, recorded a 50 per cent increase in its gross earnings from N39.82 billion recorded in 2021 to N59.59 billion H1, 2022.

The bank also grew its deposit by 43 per cent from N968.17 billion reported in FY 2021 to N1.09tn in H1, 2022.

Wema Bank recorded a 43 per cent increase in profit before tax from N4.30 billion over the same period last year to N6.13 billion for the period under review.