Wema Bank Plc has announced the successful completion of the second tranche of its N50 billion Special Placement, which was fully subscribed by investors. The achievement further strengthens the bank’s capital base and underscores investor confidence in its long-term growth strategy.
The announcement was made in a press release on October 17, 2025, where the bank confirmed that the new capital raise marks another major step in executing its capital management programme. The initiative is designed to reinforce the bank’s balance sheet, sustain its growth plans, and ensure full compliance with the Central Bank of Nigeria’s (CBN) revised minimum capital requirements for commercial banks.
This latest capital raise follows the successful completion of a N150 billion Rights Issue in September 2025, bringing Wema Bank’s total qualifying capital to N264.87 billion. This figure comfortably exceeds the CBN’s N200 billion minimum capital requirement for commercial banks with national authorization, well ahead of the March 2026 compliance deadline.
Speaking on the development, the Managing Director and Chief Executive Officer of Wema Bank, Mr. Moruf Oseni, said the full subscription of the placement reflects strong investor trust and confidence in the bank’s performance and future outlook.
“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,” Oseni said.
According to the bank, the proceeds from the placement will be used to accelerate its digital transformation drive, strengthen lending capacity, and expand market reach across retail, SME, and corporate segments. The funds will also support strategic investments in technology, product innovation, and human capital development to improve service delivery and operational efficiency.
Industry analysts say the successful completion of this round gives Wema Bank a strong advantage over several other financial institutions still racing to meet the CBN’s capital recapitalisation deadline. The bank’s proactive capital strategy has helped it de-risk its balance sheet and position itself as one of Nigeria’s most stable mid-tier lenders.
Wema Bank has also stated that part of the funds will be channelled towards key productive sectors of the economy, including agriculture, manufacturing, and technology. This aligns with its vision of supporting Nigeria’s economic growth through responsible lending and sustainable financial inclusion.
The bank’s solid capital base and consistent earnings growth have boosted investor confidence, with Wema’s stock emerging as one of the best performers on the Nigerian Exchange in 2025. So far, the bank’s shares have recorded a year-to-date gain of 106.69%, outperforming several larger peers in the financial sector.
Financially, Wema Bank has maintained strong momentum. For the first half of 2025, the bank reported a pre-tax profit of N100.5 billion — a remarkable 229.12% increase from N30.5 billion recorded during the same period in 2024. Total assets also rose to N3.9 trillion, representing a 10.53% increase compared to December 2024. Retained earnings climbed to N169.3 billion, up from N103.2 billion at the end of last year.
The strong earnings and improved balance sheet performance reflect the bank’s growing focus on digital banking innovation, efficient cost management, and enhanced risk management frameworks. With the release of its Q3 2025 financial results expected soon, market observers anticipate that the upward trend will continue.
Wema Bank’s early compliance with the CBN’s capital recapitalisation target is expected to attract more institutional investors seeking exposure to stable and well-capitalised financial institutions. By completing its capital raise ahead of schedule, the bank has not only strengthened its liquidity position but also created room to pursue new strategic opportunities both within and outside Nigeria.
Industry experts note that Wema’s steady capital growth demonstrates the success of its transformation strategy, which has evolved the bank from a mid-sized lender into a competitive, digitally driven institution. The combination of strong shareholder confidence, solid earnings, and prudent management continues to position the bank as a major player in Nigeria’s fast-evolving financial sector.
