May 16, 2022/Chain Reactions Nigeria
Nigeria’s leading innovative financial institution, Wema Bank Plc has again been recognized for its commitment to the highest standards of disclosure, transparency, and fairness in disseminating information to investors and other stakeholders.
The Bank was on Saturday May 14 awarded the ‘Best Overall Investor Relations’ brand at the 8th edition of the prestigious BusinessDay Nigeria Investor Value Awards (NIVA) for its adherence to corporate governance ethics in driving its impressive performance on the Nigerian Exchange – NGX.
Speaking on the award, Head, Marketing Communications and Investor Relations, Wema Bank, Funmilayo Falola, commended the organisers of the award for the recognition, stating that it was an affirmation of Wema Bank’s transparency and commitment to corporate governance and best practices.
“We are grateful to the organisers for recognizing the impact of what we are doing, particularly entrenching firm corporate governance ethics in our corporate culture. This has strengthened healthy relationship across the bank’s stakeholder spectrum whilst instilling trust.
“At Wema Bank, we believe in transparency, and timeliness in sharing relevant data with our stakeholders, including our earnings reports. We don’t sugar-coat things but are always upfront about the state of our business, even at the worst of times. This is why Wema Bank remains one of the most credible banks in the country,” she said.
According to the organisers, Wema Bank was selected for the award by the Awards Review Committee and BusinessDay’s Research & Intelligence Unit for its commitment to the highest standards of disclosure, transparency and fairness in disseminating information to stakeholders. The Bank was also chosen for its impressive performance in the Nigerian Exchange despite a challenging macro-economic environment in the past year under review during which its profits grew by 93.72%
from N4.58 billion in 2020 to N8.87 billion in 2021, recording a profit margin of 9.71% in the same period.
The NIVA Awards is a survey conducted by BusinessDay’s Research & Intelligence Unit (BRIU), and the Awards Review Committee to evaluate more than one hundred and fifty companies listed on the Nigerian Exchange Group (NGX) in a thorough evaluation process.
The Award recognises leaders of public and private companies who have created sustainable alpha-generating value for their shareholders through their strategic priorities, operating efficiencies, organisational values, and market engagement activities.
In the 2021 financial year, the Bank was named ‘Most Innovative Digital Bank’ in Nigeria at the 2021 Digital Banker Africa Awards; ‘Most Outstanding Digital Bank Brand of the Year Award’ at the 2021 Brandcom Awards and KPMG ranked the bank among Customer Experience Leaders. The bank also ranked among LinkedIn’s Top 25 Workplaces in Nigeria some months ago.