Wema Bank Plc, Nigeria’s longest surviving indigenous bank, has reopened its branch in Minna, Niger State, its Regional Operations Executive, South West and Abuja, Mr. Adeyemi Oshundiya, said on Monday.
Oshundiya said in Lagos that the branch was reopened barely a year after the bank obtained a national banking licence from the Central Bank of Nigeria (CBN).
He said that the bank would reopen many of its branches shut some years ago now that it had obtained national licence.
“Wema Bank is stronger and poised for more growth, hence the opening of new branches and the reopening of some old branches,’’ Oshundiya said.
“Wema Bank, in its quest for growth, will only expand to places where there are compelling business opportunities,’’ he said.
In its 2016 half-year financial report, Wema Bank reported an 11 per cent rise in profit and a 15 per cent rise in turnover.
Its operating expenses only grew by 2.7 per cent, indicating the bank’s disciplined and innovative approach toward keeping cost of doing business low.
The bank was granted a banking licence by the CBN with national authorisation in 2015.
It operates a network of over 136 branches and service centres. The bank was established in 1945.
(NAN)
