Friday, April 07, 2017 4:45 PM / Proshare Markets
Wema Bank Plc today held its Q4’16 Investors and Analyst Conference Call Earnings Presentation. Proshare NG participated along with leading market analysts and professionals.
The bank continued to record improvement in retail strategy despite headwinds and changes in the operating environment which impacted performance in the year 2016.
The bank was able to achieve its 2016 commitments and objective which include growing the franchise. This was achieved through deposits growth and branch expansion. It also achieved enhancement in asset quality and capital through improved funding by successfully raising Tier 2 capital of N6.25bn
Other 2016 commitments achieved by the bank include improved operational efficiency through better use of technology, improved service rating by implementing purple rule and continuous deployment of alternative channels like PoS, ATMs and mobile applications.
In a nutshell, below are the key takeaways from the 2016 FY earnings presentation made by the bank management;
- The bank recorded a robust growth in its PBT figure from N2.99bn in 2015 to N3.28bn in 2015
- The bank’s NPL ratio grew to 5.07% in 2016 from 2.67% in 2015 and recorded an 100% coverage ratio in 2016
- The bank’s intends to continue to growth its customer deposits going forward to about 10% at the end of 2017
- The banks plans to continue its retail penetration strategy through improved retail volumes from campus storms; the alliance with Telcos and Fintechs, mobile and digital banking; and
- The bank intends to slow its loan growth as it monitors it domestic environment.
1. WEMABANK Declares N2.56 billion PAT in 2016 Audited Results,(SP:N0.50k)
2. Wema Bank reopens Kaduna branch
3. Wema Bank Appoints Babatunde Kasali as Non-Executive Director
4. WEMABANK Declares N1.27 billion PAT in Q3 2016 Result,(SP:N0.65k)
5. WEMABANK Declares N1.10 billion PAT in Q2 2016 Result,(SP:N0.73k)
6. Fitch Rating Affirms Wema Bank’s Long-Term National Rating at (BBB-) With a Stable Outlook
7. Fitch Rating Actions on Nigerian Banks on Sovereign Downgrade
8. Nigeria Banks Absorb Effective Devaluation
9. Fitch Downgrades Nigeria to 'B+'; Outlook Stable
10. WEMABANK Declares N429.53 million PAT in Q1 2016 Result SP N0.75k
11. WEMABANK Declares N2.33 billion PAT Profit Drops by 1.9 in 2015 Audited Result SP N0.80k
12. NSE Delists 913 907 131 Units of WEMABANK Shares Representing an Unpaid Portion
13. Babatunde Kasali Resigns as a Non-Executive Director from WEMABANK Board