Wema Bank, the pioneer of Nigeria’s first fully digital bank ALAT has opened a new branch in Bauchi as it continued its expansion using a two-pronged approach of digital and aesthetically appealing physical branches.
The bank is relying on the near-ubiquity of a digital bank and the impact of physical branches in places where there are compelling business opportunities, to ensure it delivers value to all stakeholders.
In its northern expansion drive, Wema Bank has already opened branches in Kaduna, Minna, Lokoja, Maraba and Bauchi. Another branch is expected to open in Kano in the coming weeks.
Reiterating the Bank’s promise, With you. All the way; Head of Brand and Marketing Communications at Wema Bank Funmilayo Falola said all the Bank’s activities are tied to delivering on its promise.
“Our promise is not only to existing customers, but to everyone who has a banking need at one point or the other in their lives,” says Falola. “This is why we founded ALAT, to cater to the needs of the banking population who want convenience, simplicity and control. And for those in the northern part of Nigeria who wanted us closer so that they can do business with us; we are closer now than ever, ready to build value-driven relationships with them.”
Wema Bank has in recent times invested in improving the ambience of its branches across the country even as it invests in technology to ensure it gives its customers delightful and memorable service experiences across all its touch points. The Bank launched ALAT in May, and the market has warmly received the digital bank with more than 130,000 accounts opened till date. As the Bank continues its investment in technology, it recognizes that people still value human interaction, hence the expansion of branches and improvement of the ambience in existing ones.
Despite prevailing economic conditions, Wema Bank continues to show signs of resilience, evidenced by its growing brand acceptance and increased customer patronage. Gross earnings grew by 16.79% from N37.89 billion in Q3’2016 to N45.38 billion as at Q3’2017. This was supported by increased contribution from non-interest income which rose by 35.74% from N5.96 billion in Q3’2017 to N8.09 billion, as at Q3’2017. The high interest rate environment continued to impact earnings, as interest expense increased year on year. Despite this, the Bank recorded a growth in Profit before Tax (PBT) by 20.81% to N1.80 billion in Q3’ 2017.
Both new and existing customers of the Bank can visit the new branch at Bank Road, opposite State Library, Bauchi.