Business

Wema Bank Is Standing On Strong Financial Fundamentals – CEO, Ademola Adebise

Published

5 years ago

April 9, 2021

Wema Bank, Nigeria’s leading innovative and digital-driven financial institution has
reassured its esteemed customers and shareholders that it remains standing on
strong financial fundamentals and reliable performance metrics, riding on the back
of seasoned and astute leadership.

The bank gave this reassurance, through its Managing Director/Chief Executive
Officer, Ademola Adebise, while reacting to a recent publication in the media
purportedly alleging a dip in its liquidity status following the unaudited report for
2020 with the MD/CEO saying the report is only a deliberate campaign to create
panic among its stakeholders using false news, and therefore should be
discountenanced,

He said, “The strength and viability of financial institutions are not measured on the isolated performance of one outlier year. The said report based a lot of its false
allegations on the unaudited 2020 financial year. But that was a year when COVID-
19 induced a lockdown and a disruption of such magnitude that negatively impacted
businesses, industries and economies the world over.

“Wema Bank has continually exhibited not just resilience, but admirable viability
over the years with a 30.95% increase in earnings recorded in just 2019. Then came
2020, and in spite of the difficulties, we succeeded in achieving impressive results in key areas such as net earnings from fees and commissions, while growing the
Bank’s asset base significantly.
“That’s not all, customer credibility in the bank was also accentuated with a massive
increase in customer deposits over the previous year. This is an audacious show of
confidence from the customers of Wema Bank

“These performance metrics amongst others, are testament to our smart balance
sheet optimization approach which will be affirmed by the time the audited and
official 2020 Financial Report is released in the coming weeks “

The CEO also referenced how well the Bank’s performance in the said 2020 makes it
one of the best performing financial institutions in the land.
“We won the BusinessDay award for the Best SME Bank of the Year for 2020. A
recognition of our unrivalled support for small and medium scale businesses
through loans, business advisory, and ease of payments and transactions.
“Also, the recently published 2020 KPMG Customer Experience Survey, showed
Wema Bank making significant growth in the retail category, climbing up ten (10)
places from the previous year to 2nd position, with an above industry average of
74.6% Customer Experience score. This achievement is a mark of dedication to
excellent customer service and refreshing support for all our customer categories.”
The KPMG Customer Experience Survey grades banks over six universal pillars of
Personalization, Integrity, Expectations, Resolution, Time & Effort and Empathy, and
Wema Bank has showed a mastery of these pillars and have been outstanding at all
of them.
Furthermore, in line with the bank’s sustainability goal of developing digital
solutions for societal impact, it successfully organized the second edition of
Hackaholics, a radical gathering of developers, web designers and creative thinkers
to develop solutions around key themes of Education, Health, Agriculture, Fintech,
Gaming & Betting.
These are intentional measures put in place to sustain an institution’s legacy of
economic evolution and social inclusion.
“We are a responsible corporate citizen with empathy as a core pillar of our
personality. Thus, we stood by the nation in the trying times of the COVID-19
pandemic with significant support for governments at both the federal and state
levels.
“Particularly to prevent severe food shortages and align with the SDG of Zero
Hunger, we supported State Governments with food palliatives donation which
alleviated the conditions of over 80,000 households of the most vulnerable
segments of the population.”

With all these financial and non-financial performance metrics, it is not in doubt that
Wema Bank is not only standing strong, it is also among the best performing
financial institutions in Nigeria, in 2020.
“I’ll take this opportunity to commend our customers for their sustained trust in us.
A support that has remained a critical pillar of our stability and growth over the
years, especially as we celebrate our 76th anniversary.
For us as a responsible and visionary organization, we are staying committed to our
corporate purpose of making life easier and better through innovation and digital-
driven lifestyle solutions for Nigerians and their businesses.” Adebise concluded.

Related Topics:Featured Lifestyle WEMA BANK

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Bank

Atlantian Crown Bank Rebrands as Arizona Global Bank LLC, Begins Licensing for Global Expansion

Published

5 minutes ago

May 12, 2026

Sahara Weekly

Atlantian Crown Bank Rebrands as Arizona Global Bank LLC, Begins Licensing for Global Expansion

_By AGP News

*UNITED KINGDOM OF ATLANTIS* — In a move signaling a push into international markets, the Royal Throne of the United Kingdom of Atlantis on Sunday announced the corporate transformation of Atlantian Crown Bank LLC into *Arizona Global Bank LLC*, as part of a wider restructuring to position the institution for global banking and financial innovation.

The announcement was made at a press conference in the UKA capital by *HRM Queen Amb. Cletus C. Leaticia*, Chief Executive Officer of the newly named bank. She told reporters the rebranding marks _“more than a name change”_ and reflects a strategic pivot toward digital finance, cross-border investment, and modern banking standards.

_“This transformation represents our commitment to innovation-driven banking and our vision to become a globally competitive financial institution,”_ Queen Leaticia said.

*Licensing Process Underway*

According to the Department of Financial Administration and Corporate Affairs, which issued the official communication, Arizona Global Bank LLC has formally begun the process of applying for a *Banking Operational Licence* under UKA’s financial regulatory framework.

Once licensed, the bank plans to operate as a modern financial enterprise focused on four pillars:

1. Innovation-driven banking and digital financial solutions

2. Corporate financing and structured investment services

3. International financial partnerships and cross-border trade facilitation

4. Financial inclusion initiatives

Bank officials stressed that the institution will _“maintain strict compliance with all banking regulations and supervisory standards”_ set by UKA financial authorities.

*Strategic Shift Amid Global Ambitions*

Management described the rebranding as part of a broader restructuring initiative to _“strengthen the bank’s international identity, expand its global financial footprint, and align operations with contemporary banking standards.”_

Representatives called the licensing and rebranding process a _“major milestone”_ aimed at supporting economic growth, international trade, and cross-border investment initiatives.

*No Disruption to Existing Commitments*

Addressing potential concerns from clients and partners, management reassured stakeholders that _“all existing institutional commitments, operational objectives, and long-term strategic plans remain fully intact throughout the transition process.”_

The Royal Throne indicated that further updates on the licence approval, commencement of operations, corporate partnerships, and investment programmes will be released through official UKA and Arizona Global Bank LLC channels.

_The Department of Financial Administration and Corporate Affairs, Royal Throne of United Kingdom of Atlantis, issued the official statement._

Bank

Fidelity Bank grows Gross Earnings by 45.6% for FY 2025

Published

57 minutes ago

May 12, 2026

Sahara Weekly

Fidelity Bank grows Gross Earnings by 45.6% for FY 2025

Lagos, Nigeria – Fidelity Bank Plc, a leading Nigerian financial institution, has announced its audited financial results for the year ended 31 December 2025, reporting Gross Earnings growth of 45.6% from N1.04 trillion in 2024 to N1.52 trillion in FY 2025, reflecting stronger topline momentum across core business segments.

The Group recorded a Profit Before Tax of N347.7 billion. This performance was underpinned by a 38.7% year-on-year increase in interest income to N1.11 trillion (FY 2024: N803.1 billion) and a 44.7% year-on-year rise in fees and commission income to N113.4 billion (FY 2024: N78.4 billion).

On the balance sheet, total assets grew by 18.6% year-on-year to N10.46 trillion (FY 2024: N8.82 trillion), while customer deposits increased by 16.1% year on year to N6.89 trillion (FY 2024: N5.94 trillion), reflecting continued franchise strength and growing customer confidence in the brand. Net loans and advances declined by 2.4% year-on-year to N4.28 trillion (FY 2024: N4.39 trillion) as customers paid down on their mature obligations.

The Bank also strengthened its capital position during the period, with eligible capital rising to N561 billion, above the regulatory minimum of N500 billion for banks with international authorisation. In addition, capital adequacy remained robust, with Capital Adequacy Ratio of 30.94 percent as at 31 December 2025 (FY 2024: 23.47 percent).

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

Business

ALIKO DANGOTE FOUNDATION’S FORGES PARTNERSHIP WITH ISLAMIC DEVELOPMENT BANK

Published

3 hours ago

May 12, 2026

Sahara Weekly

ALIKO DANGOTE FOUNDATION’S FORGES PARTNERSHIP WITH ISLAMIC DEVELOPMENT BANK

Ms. Zouera Youssoufou, Managing Director & CEO of Aliko Dangote Foundation (ADF) in company with Mr. Ahmed Iya, Head of Community Engagement & Polio Eradication of ADF visited Dr. Rami Ahmad, Vice President (Operations) of the Islamic Development Bank at IsDB Headquarters in Jeddah.

The delegation used the occasion to highlight the activities of the Foundation so far which made great impact on people of all races by enhancing opportunities for social change through strategic investments that improve health and wellbeing, promote quality education, and broaden empowerment opportunities for individuals and communities.

Dr. Rami also expressed his expectation of a good and rewarding partnership between the two organisations, as many member countries of the IsDB face pressing debt challenges that constrain their investments in people and livelihoods.