Wema Bank

The growing disruption of Nigeria’s banking industry by financial technology companies has taken a new turn, with OPay’s Nigerian operations generating about ₦575 billion in revenue in the first half of 2026, surpassing the gross earnings reported by Wema Bank and narrowing the gap with some established banking groups.

Wema Bank’s H1 numbers reveal an institution that is growing rapidly, but whose growth is accompanied by falling earnings per share, a sharp contraction in fee income, rising loan-impairment charges, deteriorating cost efficiency and loan expansion that is running considerably faster than deposit mobilisation.

Wema Bank Plc has strengthened its support for Nigerian businesses seeking to expand into international markets, following the completion of the second edition of its Wema Export Trade Academy in Lagos.

May 22, (THEWILL) — Wema Bank Plc has received an upgrade in its long-term rating from ‘A-’ to ‘A’ by Agusto & Co, reflecting the bank’s improved profitability, stronger liquidity position, and sustained shareholder support. The rating agency also affirmed...

April 21, (THEWILL) — Wema Bank Plc has met and surpassed the Central Bank of Nigeria (CBN) requirements for national licence operations. The financial services institution in a statement, said this reinforces its position as a national bank...

January 12, (THEWILL) — Wema Bank Plc has rolled out an upgraded version of its ALAT digital banking application as part of efforts to improve customer experience, strengthen service efficiency, and deepen its presence in Nigeria’s competitive digital banking...

December 23, (THEWILL) — Wema Bank and Access Bank emerged among Nigerian lenders with the fastest asset growth in 2025, underscoring how scale, digital banking adoption, and balance-sheet resilience shaped performance across the banking sector during a volatile economic...

October 19, (THEWILL) — Wema Bank Plc has successfully concluded its ₦50 billion special placement offer, strengthening its capital base and surpassing the Central Bank of Nigeria’s (CBN) minimum capital requirement for national commercial banks.   In a statement issued by...

October 05, (THEWILL) — The share capital of Wema Bank Plc  rose by a significant 66% with the listing of 14,143,244,747 additional ordinary shares on the Nigerian Exchange Limited (NGX) on Tuesday, September 30, 2025. The move follows the successful conclusion...

May 01, (THEWILL) – President Bola Tinubu has congratulated WEMA Bank, Nigeria’s oldest surviving indigenous bank, on its 80th anniversary on May 2, 2025. WEMA Bank commenced operations on May 2, 1945, as Agbonmagbe Bank in Iperu-Remo, Ogun state. It...