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Tag: Wema Bank

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Wema Bank exceeds CBN recapitalisation target, retains national licence

Wema Bank has secured its position in Nigeria’s tier-2 financial sector after announcing on Monday that it has not only met but comfortably exceeded the Central Bank of Nigeria’s new recapitalisation requirement, thereby retaining its national banking licence. The bank reported a total qualifying capital of N264.7 billion, well above the N200 billion minimum set […]

Banking

Wema Bank reaffirms support for Nigeria’s MSMEs

Wema Bank has reiterated its commitment to advancing Nigeria’s small business sector, highlighting entrepreneurs as the key drivers of the country’s sustainable economic growth. The pledge comes on the heels of a standout performance at the 2026 Global SME Banking Innovation Awards, where Wema Bank claimed two major honours: SME Financier of the Year and […]

Banking

Wema Bank posts N221.8bn audited 2025 profit before tax

Wema Bank Plc has posted a profit before tax of N221.8 billion in its audited 2025 financial results, slightly below the earlier unaudited figure of N222 billion. The audited performance marks a 116.44 per cent increase from the N102.5 billion recorded in 2024, driven largely by a significant rise in interest income, which accounts for […]

Inspiration

IWD: Sanwo-Olu, Funke Akindele, others urge strategic support for women

The First Lady of Lagos State, Dr Ibijoke Sanwo-Olu; filmmaker Funke Akindele; singer Waje; dancer Kaffy; drummer Ara; and vocalist Yinka Davies have called for strategic investment in women to boost the nation’s economy. As the world commemorates International Women’s Day 2026, Wema Bank hosted a high-profile gathering in Lagos. The event brought together leaders, […]

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

Wema Bank hit N222bn 2025 pre-tax profit, up by 116%

Wema Bank Plc has published its unaudited financial results for the year ended December 31, 2025, posting a pre-tax profit of N222.07 billion — a 116.3% jump from N102.52 billion in 2024. Profit after tax rose sharply to N193.19 billion, representing a 123.54 per cent increase from N86.28 billion a year earlier. The strong performance […]

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 […]

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