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Tag: Wema Bank

Wema bank posts ₦100.5bn pre-tax profit in H1 2025
Banking

Wema Bank launches upgraded ALAT digital banking platform

Wema Bank, Nigeria’s most innovative bank and the pioneer of Africa’s first fully digital bank, ALAT, has unveiled an upgraded version of its flagship digital banking platform, ALAT by Wema. Positioned as the next evolution of digital banking, the enhanced ALAT platform offers a smarter, faster and more intuitive user experience, further strengthening Wema Bank’s […]

Business

Guinness, Presco, Wema Bank added in NGX review

The Nigerian Exchange Limited has announced the outcome of its full-year 2025 market index review, reflecting changes in market performance across listed companies. According to information published by the Exchange, the reviewed indices became effective at the start of trading on Friday, January 2, 2025. The review revealed that Guinness Nigeria Plc, Presco Plc, and […]

Wema Bank raises N21bn capital, reaffirms commitment to rights issue
Banking

Wema Bank concludes second phase of N50b capital raise successfully

Wema Bank Plc has announced the successful conclusion of the second tranche of its N50 billion Special Placement, which was fully subscribed, further boosting its capital base. In a press release dated October 17, 2025, the Bank described the development as a key milestone in its capital management program, designed to strengthen its balance sheet, […]

Banking

Wema Bank surpasses N157bn in first phase of recapitalisation

Wema Bank Plc has exceeded its recapitalisation target after successfully completing the first phase of its capital-raising plan, securing N157 billion through a rights issue. The digital-focused lender launched the exercise to meet the Central Bank of Nigeria’s recapitalisation directive, noting that the strong investor response underscores confidence in its strategy, leadership, and long-term growth […]

Wema bank posts ₦100.5bn pre-tax profit in H1 2025
News

Wema bank posts ₦100.5bn pre-tax profit in H1 2025

A tier-2 Nigerian commercial bank, Wema Bank has reported a pre-tax profit of ₦100.5 billion ($65 million) for the first half of 2025—marking a 229% year-on-year increase and underscoring its strong financial momentum. The bank attributed the impressive growth to a sharp rise in interest income, which climbed 64.76% compared to the same period in […]

UBA, Wema Bank resume international transactions on naira cards
News

UBA, Wema Bank resume international transactions on naira cards

Two major Nigerian banks, United Bank for Africa and Wema Bank have announced the resumption of international transactions on their naira debit cards, marking a significant shift in the country’s banking sector after years of restrictions. The move comes nearly three years after most Nigerian banks suspended global transactions on naira cards due to a […]

Banking News

Wema Bank bags new certification

Wema Bank has been honoured as the best workplace for millennials and for fostering a culture of innovation, according to a statement released on Thursday. This recognition comes as part of the bank’s achievement in being certified as a Great Place to Work for 2024-2025, marking its second consecutive year of receiving this prestigious certification, […]

Wema bank posts ₦100.5bn pre-tax profit in H1 2025
News

Wema Bank launch payment solution for MSMEs

Wema Bank has launched a payment gateway for Micro, Small and Medium Enterprises in Nigeria. The platform named ALATPay, which provides customers with a secure end-to-end shopping experience and immediate settlement for merchants, all via the merchant’s unique ALATPay link was introduced in Lagos recently. In a statement released on Sunday, the bank stated that […]

News

Wema Bank obtain regulatory approval for N40bn rights issue

Wema Bank has obtained regulatory permission for the allotment of its N40 billion rights offering, which began in December 2023. This marks the completion of the first tranche of its recapitalisation exercise, which began before the Central Bank of Nigeria urged banks in the country to broaden their capital base. This was disclosed in a […]

Wema bank posts ₦100.5bn pre-tax profit in H1 2025
News

Wema Bank threatens lawsuit over licence revocation claims

Wema Bank has said that it will file a lawsuit in response to rumours that the Central Bank of Nigeria is about to revoke its banking license. This was disclosed in a statement by the Head of Brands and Marketing Communications, Mabel Adeteye, on Tuesday. Adeteye underlined that its success in the previous years and […]

News

Wema Bank gets shareholders approval to raise N200bn

The shareholders of Wema Bank Plc, have approved the bank’s request for a capital increase of N200 billion. Also, the shareholders approved the dividend of 50 kobo per share for the financial year ended December 31, 2023, recommended by the Management Board, according to Nairametrics. This was disclosed at the group’s annual general meeting (AGM) […]

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