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What Next For Retired Wema Bank MD/CEO, Ademola Adebise?

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Indeed life happen in phases.

Today, a man is a student and tomorrow an employee, yet at another time, he might just be an employer.

Such is the story of the now retired boss of Wema Bank, Ademola Adebise, who only recently ceased to be the Managing Director and Chief Executive Officer of the bank.

Adebise who held sway as the boss of the bank untill Friday, December 30, 2022, was replaced by his deputy Moruf Oseni.

His retirement comes after over 13 years of service on the board of the bank. He proceeds on terminal leave from January 2nd, 2023.

Adebise was appointed as the Managing Director/Chief Executive Officer of Wema Bank Plc in June 2018, after joining the bank in June 2009 as an Executive Director.

He rose to become the Deputy Managing Director in 2015. Under his leadership, the expanded its footprints to other locations in Nigeria. He improved the performance of the bank and spearheaded the first dividend payment in 13 years.

Following the first dividend payment, he ensured consistent dividend payment over the last four years seeing the bank growing its Total Assets by 155%, from N470 billion to over N1.2trillion, while deposits also grew by 214% from N350 billion to N1.1 trillion.

Adebise, is known to have initiated the partnership with Bank of Africa to support its customers across the African continent which has increased the bank’s market share and customer base. All these led to an additional growth of two million customer accounts in Nigeria and a market share of 3% of industry volumes, making the bank the leading collection bank for state and government agencies due to its effective and efficient platform. Also, the bank’s rating by agencies was upgraded to BBB investment grade.

A significant changed was also noticed in the digital landscape of the bank through the ALAT platform. The innovative platform also came tops in the KPMG Digital Scorecard for leading retail banks in Nigeria and this was based on in-depth insights into the state of user experience on retail banks’ digital channels.

Furthermore, under Adebise, the bank launched the first SME Business School for capacity building and empowerment of SMEs – this has benefitted over 20,000 small businesses, seeing the bank becoming one of the founding members of the United Nations Environmental plan for financial institutions (UNEP- FI) and continues to provide digital solutions for societal impact.

Amidst an enviable scorecard, one is forced to ask what next is Adebise set to conquer.

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