Call it an old generation bank, that has stood the test of time and you may not be wrong. Despite its age, the bank has dominated the industry with innovation, making its products and services quintessential, with prompt customer service delivery.
Wema Bank is Nigeria’s oldest indigenous bank that has faced the heat, as economic downtimes and good times hit Nigeria. However, the financial institution still stands tall, flying its flag high and triumphantly walking where many of its contemporaries have perished.
Established in 1945 by the Agbonmagbe Bank to serve the old Western Region, no doubt, Wema Bank has grown to become Nigeria’s most indigenous bank, after gaining national status with over 150 branches nationwide.
The Bank under the leadership of its CEO, Ademola Adebise has not changed its mission from that of its founders in 1945. At 76, the management of the bank prides itself in pursuing the vision of its founders coupled with a vision of being a digital-led banking institution.Wema was among the first financial institutions to introduce mobile banking in Nigeria in 2011. In 2017, Wema took it a step further, by launching ALAT, Africa’s first fully digital bank.
Wema Bank’s 76th anniversary is a clear showcase of its decades of operations as the oldest indigenous bank, its growing profile, and its unending passion about supporting the personal and business needs of its customers both in rural communities and in the big cities. In some communities, Wema Bank may be the only bank in town, making it easy for dwellers to bank with ease. The bank is also illustrating its successful turnaround with the records of consistent returns to shareholders.
On its website, the bank writes, “Wema Bank is the pioneer of Africa’s first fully digital bank, ALAT, and one of Nigeria’s most resilient banks. With decades of experience in the business of banking, the Bank has remained innovative in delivering value to its stakeholders. The publicly quoted Nigerian company has successfully built a legacy of trust and resilience that has won it the loyalty of its customers. The Bank is constantly introducing products and services tailored to the needs of its customers at every stage of their lives. It is a proud partner to more than one million individuals, families and businesses across Nigeria, helping them achieve their personal and financial goals”.
The Bank strategically drives refreshing banking services by leveraging technology to meet the needs of tomorrow’s businesses today. ALAT has personalised banking experience for its customers today.
From a position where it could not pay dividends some years back, Wema Bank has consistently delivered on its promise to its stakeholders consecutively in recent years by paying dividends.
Wema bank’s resilience and hardwork in recent years has earned the bank several awards, including “winner of the 2017 Best Digital Bank”; “2017 Nigeria and Best Mobile App”; “2018 Best Digital Bank in Africa”; “2020 BusinessDay SME Bank of the Year and second in the Retail segment of the 2020”; “KPMG Banking Industry Customer Experience Survey”, and BICXM top mention among others.Beyond this, the bank has a long history of its corporate social responsibilities that has put smiles on the faces of many. These projects are equally timely and sensitive as it creates an alternative stream of income for its customers at a time when income channels are drying up.At 76, Wema Bank has no limitations, no boundaries to the magic she can still create in the banking industry for its teeming loyalists. There are equally no walls that can stand as boundaries to the cordial relationships the bank has forged, with its customers. The Bank’s excellent services have left the public marvelled, especially in these times when the fallen, hardly have chances to rise again.76 hearty cheers to Wema Bank Plc !
Olamide Adeniji is a member of the editorial board of TheScript Newspaper
