Last 0.98 NGN
Change Today -0.02 / -2.00%
Volume 24.1M
As of 7:46 AM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

wema bank plc (WEMABANK) Snapshot

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01/3/14 - 1.40
52 Week Low
09/25/14 - 0.85
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wema bank plc (WEMABANK) Details

Wema Bank Plc provides banking and other financial services to corporate and individual customers in Nigeria. The company offers current and saving accounts, hybrid accounts, and term deposits; consumer loans; and collection services. It also provides commercial banking services, including overdraft and credits, drawing against uncleared effects, salary advance, direct credit, revolving credit, warehouse financing, contingent liabilities, letters of credit, banker’s acceptances, invoice discounting/receivable refinancing, and relationship management services; and trade services, such as form M and NXP processing, bills for collection, shipping documents handling, trade finance, invisible trade, offshore guarantee, and advisory services. In addition, the company offers loans and financing services comprising overdraft, corporate finance, invoice discounting, term loans, and agri finance services, as well as off balance sheet, import financing, cheque discounting, and finance leasing facilities; investment products, including bond investments and foreign exchange products; and revenue collection services. Further, it provides small and medium scale enterprise (SME) investments and financial advisory services; SME loans; foreign exchange, cash management, retail management, and integrated revenue services; and cards and electronic banking services. The company operates a network of approximately 128 branches, 150 ATMs, and 1,556 PoS terminals in South-West, South-South, Abuja, and Lagos zones. Wema Bank Plc was founded in 1945 and is headquartered in Lagos, Nigeria.

1,158 Employees
Last Reported Date: 03/19/14
Founded in 1945

wema bank plc (WEMABANK) Top Compensated Officers

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wema bank plc (WEMABANK) Key Developments

Wema Bank Plc Reports Audited Earnings Results for the Year Ended December 31, 2013

Wema Bank Plc reported audited earnings results for the year ended December 31, 2013. For the year, the bank reported profit after tax stood at NGN 1.6 billion compared with NGN 5 billion loss declared in 2012. Profit before tax stood at NGN 1.9 billion against the loss before tax of NGN 4.9 billion in 2012. Operating income rose by 68% to NGN 20.9 billion against NGN 12.5 billion posted in the previous year.

Wema Bank Plc Look to Expand its Operations

Wema Bank Plc is looking to expand its operations. The bank said that it was raising NGN 35 billion to fund expansion that would see its charter change from a regional to a national bank.

Economic and Financial Crimes Commission Files Lawsuit against Wema Bank Plc

Justice Samuel Candide Johnson of a Lagos High Court sitting in Igbosere has ordered the Assistant Manager of Wema Bank Plc, Mr. Adekunle Onitiri, to appear in court following a criminal suit brought against the bank and three others by the Economic and Financial Crimes Commission, EFCC. The order was sequel to an application brought before the court by the anti-graft agency, on who is the right person to represent the bank in the criminal matter.


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