Home Business News Wema Bank confirms Ademola Adebise as MD

Wema Bank confirms Ademola Adebise as MD

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Wema Bank Plc has confirmed the appointment of Ademola Adebise as its Managing Director. The bank has also appointed Moruf Oseni as Deputy Managing Director (DMD).

Adebise was appointed Acting Managing Director effective in July 2018 following the retirement of Segun Oloketuyi, the immediate past Managing Director. Oloketuyi retired, having completed 10 years in office.

The bank also announced the appointment of Moruf Oseni as Deputy Managing Director (DMD) effective October 1, 2018. Prior to his appointment, he was the Executive Director in charge of Retail business and ALAT.

Oseni has worked at several firms including Renaissance Capital where he was a Vice President and responsible for debt capital markets (DCM), equity capital markets (ECM) and structured finance origination and execution for Sub-Saharan African corporates and financial institutions.

He obtained a B.Sc. in Computer Engineering from Obafemi Awolowo University (OAU), Ile-Ife, Nigeria.  Moruf also holds an MBA from (INSEAD) in France and  a Masters in Finance (MiF) from the London Business School.

Wema Bank closed at N0.57 in today’s trading session on the NSE, up 3.64%.

Results for the half year ended June 2018 show interest income dropped from N25.4 billion in 2017 to N25.3 billion in 2018. Profit before tax, however, increased from N1.4 billion in 2017 to N1.8 billion in 2018. Profit after tax also rose from N1.2 billion in 2017 to N1.5 billion in 2018.

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