Wema Bank reopens Minna branch

The Wema Bank Plc continues its expansion plan with the reopening of its branch at Minna, the capital of Niger State.
This development happened barely a year after the bank obtained a national banking licence from the Central Bank of Nigeria (CBN).
A statement issued by Adeyemi Oshundiya, the bank’s regional operations executive, South-west and Abuja, stated: “After Mr Segun Oloketuyi took over the management of Wema Bank in 2009, the first phase of his turnaround strategy was to scale down operations to the South-west and South-south regions. The Minna branch was shut down as a result of this.”
But now in the final phase of the turnaround plan, Wema Bank had opened new branches and reopened some hitherto shut branches.
In its 2016 half-year financials, the Wema Bank reported an 11 per cent rise in its profit and a 15 per cent rise in turnover.
Operating expenses only grew by 2.7 per cent, a testament to what the bank called its disciplined and innovative approach to keeping cost of doing business low.