Kayode Tokede 

Wema Bank Plc, yesterday announced that it has received all requisite regulatory approvals for its N50 billion private placement capital raise that was fully subscribed  by 100 per cent.

This is in addition to the earlier N150billion rights issue that was successfully completed in September 2025.

Wema Bank now has a total of N264.87billion in qualifying capital, above the minimum requirement of N200billion for a commercial bank with national authorization.

This development marks another significant milestone in the execution of the Bank’s capital management program aimed at fortifying its balance sheet, supporting future growth ambitions, and ensuring full compliance with the Central Bank of Nigeria’s (CBN) revised minimum capital requirements.

Speaking on the development, Managing Director/Chief Executive Officer of Wema Bank, Mr. Moruf Oseni  in a statement stated: “We are delighted to have received all necessary regulatory approvals for our N50 billion special placement.

“This marks another major step in our strategy to strengthen Wema Bank’s capital base, enhance liquidity, and position the institution to pursue emerging opportunities for sustained growth.

“We appreciate the continued confidence and support of our shareholders, regulators, and customers as we execute our growth agenda.”

The proceeds from this capital raise will be deployed to continue the acceleration of Wema Bank’s digital transformation drive, deepen penetration across retail, SME, and corporate segments, and enhance the Bank’s lending capacity to key productive sectors of the Nigerian economy. It will also support ongoing investments in technology, and human capital development — further strengthening operational efficiency and service excellence.

Wema Bank remains steadfast in its mission to deliver superior value to shareholders, empower customers through innovative financial solutions, and contribute meaningfully to Nigeria’s economic growth and financial inclusion objectives.

Nigeria’s oldest indigenous bank, most resilient and pioneer of Africa’s first fully digital bank, ALAT, had reported remarkable financial upturns including a Profit Before Tax (PBT) of N101.2 billion in half year ended June 30, 2025 representing a 231 per cent increase compared to N30.55 billion recorded in the half year ended June 30, 2024.

The bank’s Gross Earnings also rose to N303.20 billion, reflecting a 70 per cent increase from H1 2024’s N178.63 billion.

Interest Income grew by 65 per cent year-on- year to N240.12 billion (H1 2024: N145.53 billion), while Non-Interest Income surged by 91 per cent year-on-year to N63.08 billion (H1 2024: N33.10 billion).

Wema Bank’s balance sheet remained robust and well-structured, with total assets rising from N3.585 trillion in HI 2024 to N3.963trillion in H1 2025; deposit base growing by three per cent from N2.523 trillion in FY 2024 to N2.60trillion, and Loans and Advances growing by 19 per cent to N1.426 trillion in H1 2025, compared to N1.201trillion reported in FY 2024.

These indicators not only reflect Wema Bank’s resilience and efficiency, but also its strong capacity to sustain its growth momentum and continue to deliver optimum value to its stakeholders.