Thursday, July 20, 2017 4:45 PM / Proshare Markets
Wema Bank Plc today holds its H1’17 Investors and Analyst Conference Call Earnings Presentation. Proshare NG participated along with leading market analysts and professionals.
The bank explained that the global environment fraught with uncertainty and volatility arising from inability to execute reform agenda and Brexit while domestic environment is improving as measured by PMI data while reform efforts continue within domestic environment.
Oil prices continue to remain volatile in H1’17 averaging $52.74/bbl as resurgent shale oil producers counteract production cuts led by OPEC and non-OPEC members while the CBN continues with its intervention in the FX market.
The bank continued to record improvement in retail strategy which impacted its performance in H1 2017. Since the launch of its ALAT service in May 2017, the bank has recorded the opening of 26,737 accounts with 41,630 transactions executed totaling N850m and total balance across all accounts put at N251,089,418.77. The bank updated that its upcoming features on ALAT includes – QR Payments, Recurring bill payments, Virtual card for foreign payments and cardless withdrawal.
• In a nutshell, below are the key takeaways from the H1 2017 earnings presentation made by the bank management;
• The bank has opened one branch as at H1 2017 and is expected to open two more before the end of 2017.
• The bank’s NPL ratio closed at 4.91%, a decline from 5.07% reported in 2016FY as loan recoveries is largely accountable for the reduction in NPL ratio
• The bank expects continued deposit growth from continued brand acceptance and positive contribution from ALAT
• The banks plans to continue its retail penetration strategy through improved retail volumes from campus storms, alliance with Telcos and Fintechs, mobile and digital banking with 2017E put at 15%; and
• The bank expects its loan growth to slow as it monitors it domestic environment.
1. WEMABANK Declares N1.22bn PAT in Q2 2017 Results,(SP:N0.55k)
2. Wema Bank Plc. Appoints Mr. Babatunde Kasali as New Chairman
3. Back From The Launch of Wema Bank’s "ALAT"
4. WEMABANK Declares N711.17 million PAT in Q1 2017 Results,(SP:N0.50k)
5. Wema Bank Plc 2016 FY Conference Call & Earnings Presentation - The Key Takeaways
6. WEMABANK Declares N2.56 billion PAT in 2016 Audited Results,(SP:N0.50k)
7. Wema Bank reopens Kaduna branch
8. Wema Bank Appoints Babatunde Kasali as Non-Executive Director
9. WEMABANK Declares N1.27 billion PAT in Q3 2016 Result,(SP:N0.65k)
10. WEMABANK Declares N1.10 billion PAT in Q2 2016 Result,(SP:N0.73k)
11. Fitch Rating Affirms Wema Bank’s Long-Term National Rating at (BBB-) With a Stable Outlook
12. Fitch Rating Actions on Nigerian Banks on Sovereign Downgrade
13. Nigeria Banks Absorb Effective Devaluation
14. Fitch Downgrades Nigeria to 'B+'; Outlook Stable
15. WEMABANK Declares N429.53 million PAT in Q1 2016 Result SP N0.75k
16. WEMABANK Declares N2.33 billion PAT Profit Drops by 1.9 in 2015 Audited Result SP N0.80k
17. NSE Delists 913 907 131 Units of WEMABANK Shares Representing an Unpaid Portion