Subscribe to get Updates
  • Login
The News Bearer
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
    • Home – Layout 4
    • Home – Layout 5
  • Health
    • All
    • Business
    • Celebrities
    • Crime
    • Education
    • Featured
    • Features
    • Health
    • Lifestyle
    • Metro
    • News
    • Opinion
    • Personal Development
    • Politics
    • Sports
    • Uncategorized

    Bike-snatching syndicate member arrested in Anambra

    AIG Zone 2, CP, reformed cultist to attend POCACOV Children’s Day programme in Lagos

    Fidelity set to hold third edition of FITCC in Atlanta, USA September 2025

    Makinde and general knowledge questions of the future

    Makinde assures on prioritising children’s constitutional rights for safe environment

    Makinde hands over medical equipment to State Hospital, Adeoyo

    UI names Postgraduate College admin building in Prof. Onabamiro’s honour

  • Lifestyle

    A Trainer Reveals the Best Exercises For a Stronger, Toned Butt

    How To Lose 10 Pounds Even If You Hate Vegetables

    A Trainer Answers: What’s the Best Workout For Losing Weight?

    These Foods to Absolutely Avoid If You Want Clear, Glowing Skin

    Drinking This Kind of Tea Could Help Shed Those Last Few Pounds

    This Easy Cardio Swap Will Help You Train for A Half Marathon

    5 Must-Follow Rules If You Want to Get Strong

No Result
View All Result
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
    • Home – Layout 4
    • Home – Layout 5
  • Health
    • All
    • Business
    • Celebrities
    • Crime
    • Education
    • Featured
    • Features
    • Health
    • Lifestyle
    • Metro
    • News
    • Opinion
    • Personal Development
    • Politics
    • Sports
    • Uncategorized

    Bike-snatching syndicate member arrested in Anambra

    AIG Zone 2, CP, reformed cultist to attend POCACOV Children’s Day programme in Lagos

    Fidelity set to hold third edition of FITCC in Atlanta, USA September 2025

    Makinde and general knowledge questions of the future

    Makinde assures on prioritising children’s constitutional rights for safe environment

    Makinde hands over medical equipment to State Hospital, Adeoyo

    UI names Postgraduate College admin building in Prof. Onabamiro’s honour

  • Lifestyle

    A Trainer Reveals the Best Exercises For a Stronger, Toned Butt

    How To Lose 10 Pounds Even If You Hate Vegetables

    A Trainer Answers: What’s the Best Workout For Losing Weight?

    These Foods to Absolutely Avoid If You Want Clear, Glowing Skin

    Drinking This Kind of Tea Could Help Shed Those Last Few Pounds

    This Easy Cardio Swap Will Help You Train for A Half Marathon

    5 Must-Follow Rules If You Want to Get Strong

No Result
View All Result
TheNewsBearer
No Result
View All Result
Home Business

Wema Bank Emerges Best Performing Bank In Half Year 2022

The News Bearer by The News Bearer
October 6, 2022
in Business, Featured
Reading Time: 3 mins read
0 0
0
Share on WhatsappShare on FacebookShare on Twitter

Nigeria’s most innovative bank, Wema Bank Plc, has emerged the best performing bank in the first half of year 2022 financial year, with a weighted average score of of 2.83 points, beating 12 other banks.

•Managing Director, Wema Bank, Mr. Ademola Adebise

According to a special report on the Nigerian banking performance in the first half of 2022 prepared by Nairametrics, Wema Bank ranked first in one category, second in three categories and third in one category. Stanbic IBTC and First Bank came second and third respectively..

The key metrics considered in the report are total asset growth, loan book growth, profit growth, cost-to-income ratio movement, and return on average equity.

The 13 reviewed banks which are listed on the Nigerian Exchange posted a net profit of N1 trillion in 2021 from N887.1 billion recorded in 2020.

The 13 reviewed banks are Wema Bank, First Bank of Nigeria, FCMB, GTB, Jaiz Bank, Access Bank, and Stanbic IBTC. Others are UBA, Sterling Bank, Unity Bank, Union Bank, Zenith Bank and Fidelity Bank.

During the first six months of 2022, the 13 banks posted an aggregate of N501.1 billion as profit after tax, representing an increase of 13.1 percent compared to N443.17 billion recorded in the corresponding period of 2021.

The banks grew their bottom line despite headwinds ravaging the global economy as the energy crisis triggered a significant surge in the operational costs of businesses operating in the country, while some banks were forced to ration their operating hours in a bid to manage the rise in the cost of operation.

Wema Bank came first in the category of
leading banks by customer deposits growth. The bank recorded +30.2 percent customer deposit growth during the review period, followed by Fidelity Bank and Access Bank with +13.1 percent and +12.8 percent respectively.

Wema Bank came second in three other categories – total assets growth rate (+13%), loan book growth rate (+19.9%) and profit after tax growth rate {+47.8%}.

Stanbic IBTC , the second place winner, ranked first in total asset growth rate and leading bank’s by cost to income ratio growth rate.

SendShareTweet
The News Bearer

The News Bearer

Related Posts

Business

Fidelity set to hold third edition of FITCC in Atlanta, USA September 2025

May 30, 2025
Business

Fidelity Bank wins 2025 DBN innovation award for MSME support

May 26, 2025
Business

Onyeali-Ikpe champions transformational leadership at London Business School Women’s Day forum

May 25, 2025
Business

No insider trading by Fidelity Bank MD/CEO, NGX affirms

May 24, 2025
Business

Fidelity Bank CEO’s share acquisition signals strong confidence in Tier-One lender

May 21, 2025
Business

Despite ₦193.5bn tech investment, Access Bank faces rising fraud incidents

May 21, 2025
Load More

Recommended

Community chief, two others killed by suspected herdsmen in Benue

2 years ago

ALAT By Wema Wins Overall Best Mobile App In Nigerian Fintech Awards

3 years ago

Don't Miss

Bike-snatching syndicate member arrested in Anambra

May 31, 2025

AIG Zone 2, CP, reformed cultist to attend POCACOV Children’s Day programme in Lagos

May 30, 2025

Fidelity set to hold third edition of FITCC in Atlanta, USA September 2025

May 30, 2025

Makinde and general knowledge questions of the future

May 29, 2025
TheNewsBearer

Stay informed with Breaking News Online in Nigeria on The News Bearer. Get real-time updates and analysis of national, international events.

Follow us

Recent News

Bike-snatching syndicate member arrested in Anambra

May 31, 2025

AIG Zone 2, CP, reformed cultist to attend POCACOV Children’s Day programme in Lagos

May 30, 2025

Categories

  • Business
  • Celebrities
  • Crime
  • Education
  • Featured
  • Features
  • Health
  • Lifestyle
  • Metro
  • News
  • Opinion
  • Personal Development
  • Politics
  • Sports
  • Uncategorized

Tags

Adamawa State Police Command Anambra State Police Command Bishop Francis Wale Oke Cancer condolence message courtesy visit Delta State Police Command Diabetes Diet Tips DIG Hashimu Argungu Dr Festus Adedayo Dr Sulaimon Olanrewaju Economic and Financial Crimes Commission Fidelity Bank Fidelity Bank Plc Governor Seyi Makinde Health Symptoms IGP Kayode Egbetokun Inspector General of Police Kwara State Police Command Lagos State Police Command Lagos State Taskforce Men's Health murder Nigeria Police Force Ogun State Police Command OlaOluwa Mimiola Olubadan of Ibadanland opinion article Oyo State Government Oyo State Governor Peoples Democratic Party Polaris Bank Police Public Relations Officer Police Service Commission PPRO Pregnancy President Bola Ahmed Tinubu Skin Care Sulaiman Aledeh Sulaimon Olanrewaju Taskforce Chairman Adetayo Akerele Thenewsbearer University of Ibadan Women's Health
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2024 TheNewsBearer - Premium Nigerian and global news by TheNewsBearer.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
    • Home – Layout 4
    • Home – Layout 5
  • Health
  • Lifestyle

© 2024 TheNewsBearer - Premium Nigerian and global news by TheNewsBearer.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.