April 26, 2021
By Evans Charles InvestAdvocate
Lagos (INVESTADVOCATE)-Nigeria’s mid-tier lender, Wema Bank Plc on Monday said its profit after tax (PAT) for the period ended December 31, 2020 declined 12 percent to N4.57 billion from N5.20 billion declared a year ago.
Similarly, profit before tax (PBT) declined 12.2 percent to N5.93 billion from N6.76 billion declared the same period of 2019.
Gross earnings of WEMABANK dropped from N94.89 billion in of 2019 to N81.38 billion in the review period of 2020; showing a depreciation of 14.2 percent, the mid-tier lender said in a filing with the Nigerian Exchange Group (NGX).
Shares of the bank at the close of trading on the Nigerian bourse declined 3.39 percent to N0.57 kobo from N0.59 kobo per share traded the previous session.
The lender proposed a dividend of 4 kobo per share final dividend and closure date has been scheduled for May 13 to May 19, 2021, while Annual General Meeting (AGM) and payment dates is May 25, 2021, WEMABANK said in its corporate action to the NGX.
