Comments on: Wema bank Plc releases result. http://www.stockmarketnigeria.com/2007/10/30/wema-bank-plc-releases-result-records-over-n4-billion-loss/ Information for the Intelligent StockPicker ™ Tue, 06 Jan 2009 10:33:30 +0000 http://wordpress.org/?v=2.6.2 By: lagbaja http://www.stockmarketnigeria.com/2007/10/30/wema-bank-plc-releases-result-records-over-n4-billion-loss/#comment-8513 lagbaja Fri, 16 Nov 2007 02:56:06 +0000 http://www.stockmarketnigeria.com/2007/10/30/wema-bank-plc-releases-result-records-over-n4-billion-loss/#comment-8513 I believe there are a few errors in the above. Wema Bank's results did not fall, rather it improved from a loss position to profitability!! Wema Bank's results for YE 31st March 2007 is reproduced below... Turnover rose from N14.836b in 2006 to N26.431b in 2007. Profit/(Loss) before tax rose from (N7.2)b LOSS in 2006 to N1.878b profit in 2007. Profit after tax rose from (N6.602)b LOSS in 2006 to N2.554b profit in 2007. So, contrary to the above, Wema's performance actually improved from 2006 to 2007. I believe there are a few errors in the above. Wema Bank’s results did not fall, rather it improved from a loss position to profitability!! Wema Bank’s results for YE 31st March 2007 is reproduced below…
Turnover rose from N14.836b in 2006 to N26.431b in 2007.
Profit/(Loss) before tax rose from (N7.2)b LOSS in 2006 to N1.878b profit in 2007.
Profit after tax rose from (N6.602)b LOSS in 2006 to N2.554b profit in 2007.
So, contrary to the above, Wema’s performance actually improved from 2006 to 2007.

]]> By: slydomber http://www.stockmarketnigeria.com/2007/10/30/wema-bank-plc-releases-result-records-over-n4-billion-loss/#comment-7535 slydomber Tue, 30 Oct 2007 12:39:43 +0000 http://www.stockmarketnigeria.com/2007/10/30/wema-bank-plc-releases-result-records-over-n4-billion-loss/#comment-7535 I have not invested with WEMA, but with my penchant to invest solely with banks, this hurts. Hope they're able to rebrand and do a comeback. I have not invested with WEMA, but with my penchant to invest solely with banks, this hurts. Hope they’re able to rebrand and do a comeback.

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