Foremost financial institution, Wema Bank Plc is working hard to attain Tier-1 bank status, its Managing Director and Chief Executive Officer, Moruf Oseni recently announced.
The bank chief said the financial institution is set to become a Tier-1 bank in Nigeria, with hands-on development.
Speaking at the bank’s 78th and ALAT’s sixth anniversaries, Oseni said the recorded N39.35 billion gross earnings in the first quarter of the 2023 financial period was a testament of what the bank is set to achieve.
According to Oseni, such a feat is the best the bank has had in 13 years, saying that the investing and international communities should watch out for greater things to come in the bank.
He said the first quarter of the year’s results shows the acceleration in the bank’s growth plan and its continued focus on delivering optimal returns to the investors as well as the impact of a talented workforce dedicated to delivering exceptional service to its customers.
He said: “For a banking institution that has lasted 78 years, where many of its peers have disappeared, it behoves us to celebrate. This is our eighth decade as we push to the ninth, obviously it’s going to be a bigger celebration when we hit 80.
“The biggest milestone so far is that we have brought the bank to the very height of banking in Nigeria. Six years ago, we launched a grand breaking product called ALAT and over the past six years, testimonies from both locally and internationally have shown that it’s a world-class product.
“As far as we are concerned it has brought us to the forefront of banking in Nigeria. If you look at our results over the last few years, you will see an uptrend in all our numbers. WEMA is back and the investing and international communities should watch. Our best days are ahead of us.
“There’s only one aim and it is to take this bank to where it was where some of us were kids. We intend to become a tier one bank in Nigeria in the not-too-distant future.
“If you look at our Q1 result, a philosophy says: ‘When your numbers are good; you don’t need to say much.’ We released our Q1 result last Friday and for the first time, our cost-to-income ratio has dipped to 71 per cent. Profitability wise, that is the best we have had in this bank in 13 years that all of us have been together so the details are always in the numbers.
“When we started this administration with my executives, we said we are going to be pro-people and pro-performance, our first quarter result is a testament. My philosophy in life is that when you take care of your people, your people will take care of you. I appreciate the efforts of every staff member. Our best is yet to come. This bank must go back to tier one.”
Credit: thenationonlineng.net
