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Showing posts from January, 2024

Breaking: Wema Bank ALAT Set Record Breaking Precedent in 2023 performance.

 Wema Bank, Nigeria’s foremost innovative financial institution and pioneer of Africa’s first fully digital bank, ALAT, set a record-breaking precedent in 2023, with a tremendous upsurge in its 2023 corporate performance as seen in the bank’s 2023 Q3 performance results.  In a yearly analysis that captured financials for the first three[3] quarters of 2023, Wema Bank recorded a 130% increase in Profit Before Tax [PBT] and 61% increase in gross earnings, achieving Gross Earnings of ₦150.90bn in Q3 2023, compared to Q3 2022’s ₦93.86bn. The pioneering bank’s Profit Before Tax (PBT) unprecedentedly stood at ₦21.76bn, an astounding 130% increase from the ₦9.46bn reported in Q3 2022. Further underscoring the bank’s progress, Wema Bank also recorded a remarkable 73% reduction in fraud and burglary losses, which is a testament to the bank’s commitment to sustaining progress and ensuring the financial security of its customers. This exceptional growth has further strengthened Wema Bank...