Wema Bank Stocks Tower As Best Performing In 2022—Report

<h4>Wema Bank stocks Tower<&sol;h4>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> reports that Wema Bank Plc&&num;8217&semi;s stocks have emerged as the best-performing financial stocks on the Nigerian Exchange during the 2022 financial year&period;<br &sol;>&NewLine;In a report titled &&num;8220&semi;The Best Performing Stocks in Nigeria in 2022&comma;&&num;8221&semi; Nairametrics compiled and analyzed the best-performing stocks in 2022&comma; comparing their share prices as of December 31st&comma; 2021&comma; and December 30th&comma; 2022&period; The analysis considered all 159 publicly listed companies during the period&period;<br &sol;>&NewLine;According to the report&comma; Wema Bank’s share price appreciated by a whopping 441&period;7 percent&period; This helped it to close the 2022 year at N3&period;9&comma; down from the 72 kobo recorded at the end of 2022&period; The bank recorded a healthy 51&percnt; increase in gross earnings in the first nine months of 2022 and a 31&percnt; increase in post-tax profit&period; Investors rallied around the bank’s stocks despite a general downturn in most banking stocks during the year&period;<br &sol;>&NewLine;Similarly&comma; Wema Bank declared a final dividend of 24 kobo per ordinary share to its shareholders in 2021&period;<br &sol;>&NewLine;This fuels speculation that increased profitability in 2022 could suggest a better dividend payout to shareholders&period; The Nigerian equity market rallied by 19&period;98&percnt; in 2022&comma; <a href&equals;"https&colon;&sol;&sol;tribuneonlineng&period;com&sol;">higher than the 6&period;07&percnt;<&sol;a> recorded in the previous year&period;<br &sol;>&NewLine;After many years of dividend freezes&comma; the bank has resumed dividend payments to shareholders in the last three years&period; Wema has modernized its processes and has increasingly leveraged digital technologies to serve its customers&comma; boosting efficiency and productivity in the process&period;<br &sol;>&NewLine;Additionally&comma; the bank enjoyed a profitable year in terms of its financial performance and equity performance&period; Nairametrics ranked the bank as the best-performing commercial bank in the first half of 2022 based on metrics from its financial statements&period; Wema Bank also won the &&num;8220&semi;Highest Dividend Yield&&num;8221&semi; award at the Pearl Awards in 2022&period;<br &sol;>&NewLine;Multiverse Mining Company was another of last year&&num;8217&semi;s best-performing stocks&period; Meyer Plc&comma; Thomas Wyatt Plc&comma; and Academy Press Plc&comma; among others&period;<&sol;p>&NewLine;