The bank recorded gross earnings of ₦131.08bn, a year on year increase of 42% . Interest Income up 44.7% y/y to ₦106.07bn . Non-Interest Income up 32.8% y/y to ₦25.01bn . Profit before Tax was ₦14.74bn, a y/y increase of 19.1% over the ₦12.38bn reported in FY 2021. Profit after Tax also increased y/y by 25.5% to ₦11.21bn .
The bank grew its deposit year to date by 26% as at FY 2022 to ₦1,165.93bn from ₦927.47bn reported in FY 2021. Loans and Advances rose by 24% to ₦521.43bn in FY 2022 from ₦418.86bn in FY 2021. Commenting on the results, the Managing Director/Chief Executive Officer of the Bank, Mr. Moruf Oseni said, “Our 2022 results show the result of the careful execution of our medium-term strategy as we have deliberately focused on deepening our offerings to the corporate, commercial and retail segments of the market using our digital channels while ensuring best in class customer experience platforms deliver improvements across all customer touchpoints.
With their shoddy service? They are yet to respond to me on a failed POS transaction report I made since 31st March 2023. wemabank alat_ng