Latest news with #WemaBank
Zawya
06-05-2025
- Business
- Zawya
Nigeria: Telecoms, banks, mobility brands demonstrate resilience, top media performance charts in Q1, 2025 — Report
The nation's commercial banking, ride-hailing, and telecommunications sectors dominated the list of brands that demonstrated media resilience in Q1 2025, amidst the economic headwinds businesses have continued to grapple with since the introduction of some major economic reforms by the federal government in 2023. The revelation formed a key insight from a comprehensive sentiment audit released by P+ Measurement Services, Nigeria's foremost media intelligence consultancy, recently. The report, which analysed over 1.3 million online publications and 2,100 print media articles locally and globally during the period under review, also leveraged advanced media intelligence frameworks. The Q1 2025 analysis encompassed data from 28 commercial banks, 4 major telecommunications providers, and 4 leading ride-hailing platforms. In the study, which deployed rigorous monitoring, measurement, and auditing techniques, drawing from structured metadata points such as editorial tone, CEO visibility, public discourse, and brand-specific media traction, Q1 media sentiment around the nation's banks showed a polarity in perception. While Stanbic IBTC Bank emerged as the frontrunner in positive coverage—responsible for 24% of favourable sentiment across the industry—Wema Bank (23 per cent), UBA (19 per cent), Access Bank (18 per cent), and First Bank (16 per cent) followed closely, in that order. Their visibility was supported by initiatives such as Wema Bank's 80th anniversary campaign and UBA's #41 million customer reward promo. Interestingly, the report also revealed that while First Bank recorded some positive narratives, the financial institution also carried the burden of 34% of all negative sentiment. FCMB (30 per cent), Sterling Bank (18 per cent), and Ecobank (10 per cent) followed, driven by litigation, regulatory reprimands, and negative market performance. The report explained that while the data points indicate that strategic PR efforts amplified brand equity for some, crisis events significantly dampened sentiment for others. Among ride-hailing operators, the report noted that while inDrive dominated favorable mentions at 54 per cent, aided by product enhancements like the 'Light Cashless' bank transfer feature, Bolt (29 per cent) and Uber (16 per cent) also maintained a strong share. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Zawya
22-04-2025
- Business
- Zawya
Nigeria: Wema Bank maps strategy to manage volatility in forex, oil markets
To sustain its steady growth in return on investment (ROI) and keep it above inflation, Wema Bank Plc will adopt a strategic, cautious, and conservative approach to the volatility in the foreign exchange and oil and gas markets. At a recent conference meeting with stakeholders, including Analysts on its 2024 financials, the Bank stated that its approach was to implement a strategy that would mitigate against the current global volatility, especially in the oil and gas space. The management disclosed that Wema Bank's exposure at the moment was largely in the mainstream sector of the oil and gas industry, and the approach has been cautious. The Bank, with a record of the highest ROI in the banking sector in 2024, is currently in the market to raise the sum of N200billion by way of Rights Issue and Private Placement to shore up its capital base in line with the Central Bank of Nigeria's (CBN's ) directive to banks on recapitalization. Part of the new capital raise by Wema Bank will be deployed to further upgrade its IT infrastructure, support SMEs, and expand its customer base through a financial inclusion strategy, among other top line priorities. Beyond meeting the recapitalization for the national banking licence, the Bank will also focus on leveraging the strengthened capital base to drive sustainable growth, expand lending capacity, enhance digital innovation, and improve overall customer experience. The Bank promised to empower and support its sales agents for the financial inclusion drive with more tool kits and to enable them to deliver more reliable services, which are what the customers want. 'We are particularly committed to digital innovation to meet the evolving needs of younger generations. This goes beyond talk; we have demonstrated our commitment with consistent actions', Moruf Oseni, the Wema Bank MD stated. While soliciting for the support and confidence of the investment community, the management will continue to work hard to ensure its remains a profitable financial institution, adding that 'we will deliver on numbers'.says Oseni. The Bank has also outlined a strong platform to serve Nigerians across multiple generations, especially the present generation of Gen Z and Gen Alpha, which informed its innovation and reinvention with particular reference to digital innovation to meet the evolving needs of younger generations. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
