Wema Bank Plc has successfully concluded the second tranche of its ₦50 billion Special Placement, which was fully subscribed — marking another major step in the bank’s ongoing capital management strategy and solidifying its position among Nigeria’s most resilient financial institutions.
In a statement released on October 17, 2025, the bank described the completion as a “significant milestone” in its efforts to fortify its balance sheet, support future growth ambitions, and ensure compliance with the Central Bank of Nigeria’s (CBN) revised minimum capital requirements.
The new capital raise follows the successful completion of Wema’s ₦150 billion Rights Issue in September 2025, bringing the bank’s total qualifying capital to ₦264.87 billion — comfortably above the CBN’s ₦200 billion threshold for commercial banks with national authorization.
Strengthening the Balance Sheet
Commenting on the development, Mr. Moruf Oseni, Managing Director/CEO of Wema Bank, said the fully subscribed placement reflects strong investor confidence and aligns with the bank’s long-term vision.
“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,” Oseni stated.
“We appreciate the continued confidence and support of our shareholders, regulators, and customers as we execute our growth agenda.”
According to the statement, proceeds from the placement will be channeled into accelerating the bank’s digital transformation initiatives, expanding its retail, SME, and corporate banking segments, and boosting lending capacity to productive sectors of the Nigerian economy.
Funds will also support ongoing investments in technology and human capital development, enabling the bank to enhance operational efficiency and sustain service excellence.
Ahead of the Regulatory Curve
By completing this tranche, Wema Bank has de-risked its capital position well ahead of the March 2026 deadline, earning additional investor confidence as many peers continue to race against time to meet the CBN’s recapitalization requirements.
- On September 10, 2025, Wema Bank announced the completion of its ₦150 billion rights issue, bringing qualifying capital to ₦214.7 billion.
- With the latest ₦50 billion placement, qualifying capital now stands at ₦264.87 billion, positioning Wema comfortably above regulatory thresholds.
- The proactive recapitalization strategy further underscores the bank’s financial prudence and growth readiness.
Financial Strength and Market Momentum
Analysts and investors alike are optimistic about Wema Bank’s performance outlook. Ahead of its Q3 2025 financial results, the bank’s strong first-half performance has set a positive tone for the rest of the year.
For the six months ended June 30, 2025, Wema Bank reported a pre-tax profit of ₦100.5 billion, representing a 229.12% year-on-year increase from ₦30.5 billion in the corresponding period of 2024.
The bank’s total assets also rose to ₦3.9 trillion, up 10.53% compared to December 2024, while retained earnings grew from ₦103.2 billion to ₦169.3 billion within the same period.
This consistent growth trajectory has translated into strong investor sentiment — reflected in Wema Bank’s share price, which has surged by 106.69% year-to-date, making it one of the top-performing stocks in Nigeria’s banking sector for 2025.
With its recapitalization targets met early and profitability surging, Wema Bank now stands in a stronger position to deepen its digital and financial inclusion drive while maintaining industry leadership as Nigeria’s oldest surviving indigenous bank.