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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…

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.

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