Friday, November 24, 2017
8:50AM/ Wema Bank
Bank, the pioneer of Nigeria’s first fully digital bank ALAT has opened a new
branch in Bauchi as it continued its expansion using a two-pronged approach of
digital and aesthetically appealing physical branches.
bank is relying on the near-ubiquity of a digital bank and the impact of
physical branches in places where there are compelling business opportunities,
to ensure it delivers value to all stakeholders.
its northern expansion drive, Wema Bank has already opened branches in Kaduna,
Minna, Lokoja, Maraba and Bauchi. Another branch is expected to open in Kano in
the coming weeks.
the Bank’s promise, With you. All the way; Head of Brand and Marketing
Communications at Wema Bank Funmilayo Falola said all the Bank’s activities are
tied to delivering on its promise.
promise is not only to existing customers, but to everyone who has a banking
need at one point or the other in their lives,” says Falola. “This is why we
founded ALAT, to cater to the needs of the banking population who want
convenience, simplicity and control. And for those in the northern part of
Nigeria who wanted us closer so that they can do business with us; we are
closer now than ever, ready to build value-driven relationships with
Bank has in recent times invested in improving the ambience of its branches
across the country even as it invests in technology to ensure it gives its
customers delightful and memorable service experiences across all its touch
points. The Bank launched ALAT in May, and the market has warmly received the
digital bank with more than 130,000 accounts opened till date. As the Bank
continues its investment in technology, it recognizes that people still value
human interaction, hence the expansion of branches and improvement of the
ambience in existing ones.
prevailing economic conditions, Wema Bank continues to show signs of
resilience, evidenced by its growing brand acceptance and increased customer
patronage. Gross earnings grew by 16.79% from N37.89 billion in Q3’2016 to
N45.38 billion as at Q3’2017. This was supported by increased contribution from
non-interest income which rose by 35.74% from N5.96 billion in Q3’2017 to N8.09
billion, as at Q3’2017. The high interest rate environment continued to impact
earnings, as interest expense increased year on year. Despite this, the Bank
recorded a growth in Profit before Tax (PBT) by 20.81% to N1.80 billion in Q3’
new and existing customers of the Bank can visit the new branch at Bank Road,
opposite State Library, Bauchi.