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Wema Bank PLC Marina Lagos Nigeria


Business Directory » Banking / Finance » Banks
Lagos

Brief History

Widely reputed as the longest surviving and most resilient indigenous Nigerian bank, Wema Bank Plc has over the years, diligently offered a fully-fledged range of value-adding banking and financial advisory services to the Nigerian public.

Incorporated in 1945 as a Private Limited Liability Company (under the old name of Agbomagbe Bank Limited) and commencing banking operations in Nigeria the same year, Wema Bank later transformed into a Public Limited Company (PLC) in April 1987 and was listed on the floor of the Nigerian Stock Exchange (NSE) in January 1990. On February 5, 2001, Wema Bank Plc was granted a universal banking licence by the Central Bank of Nigeria (CBN), thus allowing the Bank provide the Nigerian public with diverse financial and business advisory services.

However, in 2009, the Bank underwent a strategic repositioning exercise spearheaded by a new management team that has seen its profile rise considerably which finally culminated into its taking a sound strategic decision to operate as a commercial Bank with regional Scope in South-South Nigeria, South-West Nigeria, Lagos and Abuja in 2011. 

ith a distinctive industry brand, Wema Bank's offers a full range of financial services to a select clientele that include but are not limited to; commercial and consumer banking, institutional banking, corporate finance, retail banking, trade finance and foreign-exchange operations.   

The Bank maintains a broad client base comprising; government parastatals and agencies, small and medium-scale enterprises (SMEs), middle-tier to multinational companies and diversified business enterprises whilst also ensuring different sectors of the Nigerian economy from telecommunications, manufacturing, agriculture, food and beverages, oil and gas industries, construction, are impacted

With about 130 branches spread across its target areas, the Bank's operation is presently supported by processes, technology and structures  that are in tune with global standards, and most importantly, a highly skilled workforce to ensure seamless and excellent service delivery to its various customers.

In the past few years, Wema Bank Plc has achieved major advances in e-banking, network expansion and quality of service delivery and today operates an ultra-modern innovative Information Technology structure with an integrated computerized banking system based on the world-class Finacle Banking Software platform. This infrastructure interconnects all the Bank's branches and service stations, while enabling the provision of online, real-time banking services to the Bank's customer base. These have positively impacted the bank’s financial performance and with its current drive at corporate transformation, the bank is strategically positioned to fully leverage new and exciting opportunities in the industry  

Wema Bank offers a wide range of electronic banking products accessible via its website, www.wemabank.com, and has deployed scores of Automated Teller Machines (ATMs) located to all major branches.

The Bank also introduced its innovative electronic debit card, “The Wema MasterCard”, that allows customers to perform basic financial transactions via ATMs, PoS (Point of Sale) terminals, Online Shops & e-commerce websites, WemaMobile (Wema Bank Java & Android-based Mobile banking applications) and Internet-based Web Pay (online purchase/payment) 24hours a day, 7 days a week.

he Wema Bank Brand reinforces our key differentiating factor which is Value Driven Relationship Banking.

This is the single concept which drives the understanding of the new direction of the Wema Bank Brand. It is the one word that best personifies the behavior, products and services of the Bank. It is the summation of the Bank’s Brand Muscles.

Our Brand is driven by a desire to develop an intimate relationship with our customers, putting us in a position to recognize their requirements and priorities. Our approach is hinged on mutual respect, service, innovation and efficiency. In line with our core ideals and values, seek to understand our customers’ businesses and objectives, such that we are able to meet and anticipate their needs   

The choice of Wema Bank’s colours and elements of the logo are fundamentally premised on the philosophies of our brand. The purple depicts the royal elements of the brand while the gold indicates wealth, both as creators of wealth and custodian of the collective wealth of the people. The logo is styled like a shield made out of an African basket which is traditionally a carrier or receptacle. This symbolises the Bank as a carrier or repository of wealth, culture and heritage. It also represents reward for success, steadfastness and enduring achievements.

  • ·         We are conscientious believers: believers in people and societal values, believers in the people we work for, the people we work with, and the people we serve.
  • ·         We believe in collective progress, the common good and sustainable success.
  • ·         We measure our success not only by what we gain or reap from the people we interact with, but most importantly, by the reciprocal value we add to them - their lives, their businesses.
  • ·         We strive to create values that endure, values that uplift human dignity and collective welfare.
  • ·         Success to us implies succeeding along with all our stakeholders, all moving… together to greater heights.

THE PURPLE LINE PHILOSOPHY

The PURPLE LINE is a driving philosophy that seeks to showcase to the world, our unique type of Banking which is based on creating and nurturing enduring, value-adding relationships with all stakeholders

The PURPLE LINE is all about creating and nurturing relationships through professionalism, trustworthiness, service excellence, mutual respect, integrity, accessibility, teamwork, innovation, focus, dependability and much more

It seeks to position us as proponents of a new brand of banking; it seeks to tell our story in a way that highlights the major reason we have survived since 1945 and will continue to shape our way of doing business going forward

It seeks to define our way of life and how we do business – i.e.  By creating value, building enduring beneficial relationships and walking the PURPLE LINE!

It seeks to show the world what great relationships are made of

Management

 

SEGUN OLOKETUYI Managing Director/Chief Executive Officer

Mr. Segun Oloketuyi, a consummate banker with several years of banking and managerial experience, is the Managing Director/Chief Executive Officer of Wema Bank Plc. Until his appointment, he was an Executive Director, Skye Bank Plc with the responsibility for business development across Lagos and South-West directorates of the bank.

 


A Fellow of the Institute of Chartered Accounts of Nigeria (ICAN), Segun is a Second Class Upper Division graduate of Chemistry from University of Lagos. He started out in 1985 as an Auditor with the then Akintola Williams and Co. (Chartered Accountants). Segun has attended various professional and leadership training programmes in the course of his banking career. He is an MBA Alumnus of the Lagos Business School and the Advanced Management Programme of INSEAD, Fontainebleau, France.

 


In October 2005, Segun was appointed the acting Managing Director of Bond Bank Plc during which he steered the bank through a successful merger process with Skye Bank Plc. Following the successful and hitch-free merger, he was appointed an Executive Director (Finance & Enterprise risk Management) in January 2006. He was also the Post-merger Integration Coordinator that worked with different integration teams and external consultants following the merger of the different legacy banks that formed Skye Bank Plc.

 


A 2007 recipient of the distinguished Alumni Merit Award of the University of Lagos, Segun holds the memberships of the Institute of Directors (IOD) and the Ikoyi Club 1938.

ADEMOLA ADEBISE - Executive Director
NURUDEEN ADEYEMO FAGBENRO - Executive Director
MORUF OSENI - Executive Director
TOPE ADEBAYO - Chief Inspector
AKINLOLU EBENEZER AYILEKA - Divisional Head, Retail Bank
WOLE AKINLEYE - Regional Executive, Lagos Business Group
MUSA AHMED - Regional Executive, Abuja Business Group
FOLA AJANLEKOKO - Head, General Services
OLUWOLE AJIMISINMI - Company Secretary/Legal Adviser
SOJI JENYO - Divisional Head, Corporate Services
JUDE MONYE – Chief Risk Officer & Head, Enterprise Risk Management

 

 

 

 

 

 

Phone 234-1-2778600
Email info@wemabank.com
Website http://wemabank.com
Address 54 Marina P.M.B. 12862 Lagos Nigeria.

 

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