Wema Bank Plc appoints Yewande Zaccheaus as Non-Executive Director
Wema Bank

Adebayo Obajemu

Wema Bank Plc on Thursday published its Unaudited Financial Statements for the period ended 31 December 2020.

The Group reported N80.85 billion as Gross Earnings, down by 14.79% from N94.89 billion reported in 2019.

Profit before tax for the 12 months period increased by 3.01% to N6.96 billion from N6.76 billion reported in 2019.

Income tax expense increased by 21.91% to N1.9 billion as against the tax expense of N1.56 billion the previous year. This brings the profit after tax of the Group to N5.06 billion, down by 2.66% from N5.2 billion achieved the previous year.

Earnings per share of Wema Bank for the period under review stands at 13 kobo, down by 2.66% from the EPS of 14 kobo reported in 2019.

At the share price of N0.7, the P.E ratio of Wema Bank stands at 5.33x with earnings yield of 18.75

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