Wema Bank Plc has successfully concluded the second tranche of its ₦50 billion Special Placement, which was fully subscribed, further bolstering the bank’s capital base and investor confidence.
According to a statement released by the bank, the completion of this round represents a major milestone in Wema Bank’s capital management programme, designed to fortify its balance sheet, support growth ambitions, and ensure full compliance with the Central Bank of Nigeria’s (CBN) revised minimum capital requirements.
Building on ₦150 Billion Rights Issue Success
The new capital raise follows the successful completion of Wema Bank’s ₦150 billion Rights Issue in September 2025, bringing the institution’s total qualifying capital to ₦264.87 billion — comfortably above the ₦200 billion CBN threshold for commercial banks with national authorization.
Speaking on the development, Mr. Moruf Oseni, Managing Director/CEO of Wema Bank, expressed optimism about the bank’s strengthened position and future trajectory.
“We are delighted to have received all necessary regulatory approvals for our ₦50 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,” Oseni stated.
Focus Areas for Capital Deployment
According to the bank, proceeds from the placement will be channelled toward:
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Accelerating digital transformation initiatives
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Deepening penetration across retail, SME, and corporate segments
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Expanding lending capacity to productive sectors of the Nigerian economy
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Investing in technology and human capital development to boost operational efficiency and customer experience
With this capital injection, Wema Bank has de-risked its capital position ahead of the March 2026 recapitalization deadline, earning additional investor confidence as several peers continue to race to meet the regulatory target.
Financial Performance and Market Sentiment
Wema Bank’s financial performance has remained strong through 2025.
For the first half of the year ended June 30, 2025, the bank reported a pre-tax profit of ₦100.5 billion, marking a 229.12% increase from ₦30.5 billion in the same period of 2024.
Other key highlights include:
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Total assets: ₦3.9 trillion (up 10.53% from December 2024)
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Retained earnings: ₦169.3 billion (up from ₦103.2 billion at year-end 2024)
This robust performance has continued to fuel positive market sentiment, reflected in Wema Bank’s share price, which has achieved a year-to-date (YtD) gain of 106.69%, making it one of the best-performing banking stocks on the Nigerian Exchange (NGX) in 2025.
Analyst Insight
Market analysts note that Wema Bank’s early recapitalization strategy positions it as one of the most financially resilient and growth-ready mid-tier banks ahead of the CBN’s March 2026 compliance deadline.
The bank’s proactive approach — combining digital innovation with prudent capital management — is expected to sustain profitability growth and enhance shareholder value in the medium term.
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