Nigeria’s leading innovative financial institution, Wema Bank at the weekend added to its trophy chest by winning the ‘Best Overall Investor Relations’ award at the Nigerian Investor Value Award (NIVA).
Organised by BusinessDay, West Africa’s leading provider of business intelligence and one of the most trusted news organizations in the country, NIVA recognizes stellar performance of the public companies creating value on the Nigerian Stock Exchange based on criteria including share price, dividend payments, sustainability, brand value, market leadership and business strategy against their peers in the past year under review.
Wema Bank won the coveted award on Saturday, May 14, 2022, at The Grand African Ballroom, Lagos Continental Hotel, Victoria Island, Lagos, where the grand ceremony was held.
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 latest award revalidates the bank’s consistent innovativeness in delivering value to its stakeholders with a strong market share and reputation for world-class standards.
Commenting 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.
“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.
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.