Glamtush
No Result
View All Result
  • Home
  • News
    • Education
    • Health
    • Metro/Crime
    • Nigeria News
    • Photo News
    • World News
  • Politics
  • Business & Brands
  • Entertainment
    • Celebrities
    • Movies
    • Music
    • Telemundo
  • Sports
  • Fashion
    • Accessories
    • Celeb Style
    • Designers
    • Lookbook
    • Style Crush
    • Trends
    • Who Wore It Better
  • Features
    • Dear Angie
    • Interviews
    • Opinions
  • Beauty
    • Hair
    • Skin
    • Nails
  • Lifestyle
    • Career
    • Food & Drinks
    • Fitness
    • Travels
    • Events
    • Weddings
  • Relationship
  • Telenovelas
    • Celebs Lifestyle
    • Series
    • Series Update
    • Teasers
      • Star Life
      • Telemundo
      • Zee World
  • Home
  • News
    • Education
    • Health
    • Metro/Crime
    • Nigeria News
    • Photo News
    • World News
  • Politics
  • Business & Brands
  • Entertainment
    • Celebrities
    • Movies
    • Music
    • Telemundo
  • Sports
  • Fashion
    • Accessories
    • Celeb Style
    • Designers
    • Lookbook
    • Style Crush
    • Trends
    • Who Wore It Better
  • Features
    • Dear Angie
    • Interviews
    • Opinions
  • Beauty
    • Hair
    • Skin
    • Nails
  • Lifestyle
    • Career
    • Food & Drinks
    • Fitness
    • Travels
    • Events
    • Weddings
  • Relationship
  • Telenovelas
    • Celebs Lifestyle
    • Series
    • Series Update
    • Teasers
      • Star Life
      • Telemundo
      • Zee World
No Result
View All Result
Glamtush
No Result
View All Result
Home Business & Brands

Wema Bank Emerges Best Performing Bank In Half Year 2022

byGLAMTUSH
October 6, 2022
in Business & Brands
Reading Time: 2 mins read
Hackaholics Digital Summit 2023
Share on FacebookShare on TwitterShare on PinterestShare on WhatsappShare on LinkedinShare on Telegram

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

 

READ ALSO

CBN Introduces Online Platform For Microfinance Bank Licence Applications

Meta To Commence WhatsApp Business Owners’ Verification

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 report said the thirteen banks posted an aggregate of N501.1 billion as profit after tax, representing an increase of 13.1% 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”, the report said.

READ ALSO  Black Market Dollar To Naira Exchange Rate Today 1st December 2021

 

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 the cost-to-income ratio growth rate

 

Related

Related Posts

Microfinance Bank Licence Applications
Business & Brands

CBN Introduces Online Platform For Microfinance Bank Licence Applications

September 20, 2023
WhatsApp Business
Business & Brands

Meta To Commence WhatsApp Business Owners’ Verification

September 20, 2023
Tastes Of Africa Food Festival
Business & Brands

UBA Preaches Connectivity With ‘Tastes Of Africa Food Festival,’ Celebrates Diversity, Culture At UNGA

September 20, 2023
FITCC
Business & Brands

Mayor Of Houston Texas Endorses Fidelity Bank’s Trade Expo (FITCC)

September 20, 2023
Hackaholics Digital Summit 2023
Business & Brands

Hackaholics Digital Summit 2023: Wema Bank Launches Africa’s Largest Gathering Of Innovators, Disruptors, Regulators, Policymakers, Investors & Customers In The Digital Space

September 20, 2023
Polaris Bank
Business & Brands

Polaris Bank Partners EAS, Funds Training Of Over 1000 Nigerian SMEs On Export To US, Europe

September 14, 2023
Next Post
Fidelity Bank

Fidelity Bank To Showcase Best Of Nigeria’s Non-Oil Exports To International Markets

Zenith Beta Life

Fidelity Bank

E-Magazine Covers

GTCO Fashion Weekend
Lace Styles
Agoro

Sanwo-Olu Appoints Agoro As New Lagos Head Of Service

September 23, 2023
Mohbad

Mohbad’s Body In Mortuary – Says Police

September 22, 2023
Olusegun Obasanjo

Olusegun Obasanjo Greatest Impostor Of All Time – Taiwo

September 22, 2023
Caleb Mutfwang

VIDEO: How Primate Ayodele Helped Plateau Governor, Caleb Mutfwang Win Election Tribunal 

September 22, 2023
Nasdaq Closing Bell

Tinubu Not The First African President To Ring Nasdaq Closing Bell

September 22, 2023
CBN

CBN Confirms Emefiele’s Resignation As Cardoso Assumes Office

September 22, 2023
Adebola Akin-Bright

Adebola Akin-Bright: Lagos Assembly Reveals More About Doctor Who Performed Surgery

September 22, 2023
Federal University Gusau

Bandits Kidnap Scores Of Federal University Gusau Students

September 22, 2023
Mohbad

VIDEO: Mohbad Celebrated At Times Square, New York

September 21, 2023

Why First Lady Oluremi Tinubu Deserves To Be Celebrated At 63 – Lagos Assembly

September 21, 2023

Glamtush is a fashion, beauty and lifestyle online magazine. We bring to you latest trends in fashion, beauty and lifestyle as well as those making the fashion world interesting and adorable.

  • About Us
  • Advertise
  • Terms And Conditions
  • Write for Us

© 2022 Glamtush

No Result
View All Result
  • Home
  • News
    • Education
    • Health
    • Metro/Crime
    • Nigeria News
    • Photo News
    • World News
  • Politics
  • Business & Brands
  • Entertainment
    • Celebrities
    • Movies
    • Music
    • Telemundo
  • Sports
  • Fashion
    • Accessories
    • Celeb Style
    • Designers
    • Lookbook
    • Style Crush
    • Trends
    • Who Wore It Better
  • Features
    • Dear Angie
    • Interviews
    • Opinions
  • Beauty
    • Hair
    • Skin
    • Nails
  • Lifestyle
    • Career
    • Food & Drinks
    • Fitness
    • Travels
    • Events
    • Weddings
  • Relationship
  • Telenovelas
    • Celebs Lifestyle
    • Series
    • Series Update
    • Teasers
      • Star Life
      • Telemundo
      • Zee World

© 2022 Glamtush