The bid by Wema Bank Plc to raise N149.296bn through Issue of 14,286,785,417 ordinary shares of 50 kobo each at ₦10.45 per share by way of rights on the basis of two new ordinary shares for every three ordinary shares  to existing shareholders, opened on Monday, April 14, 2025.

Wema Bank holds a National Banking License and is now focused on its goal of becoming a Systemically Important Bank (SIB). This ambition is supported by its digital strategy, which enables it to mobilize deposits efficiently, strengthening its position in the Nigerian financial market.

In its note to clients, Arthur Steven Asset Management Limited, recall that in its audited full-year financial statement for 2024, despite the challenging year influenced by both domestic and global events, Wema Bank grew its Interest Income by 91.03% year-on-year (y-o-y) to ₦354.63 billion on the back of significant increase in loans and advances to banks and customers as well as investment securities.

Consequently, the bank saw a 139.74% growth in its profit-after-tax which was buoyed by a substantial increase in fee and commission income and other income during the period.

Also, total assets grew by 59.82% year-to-date (YtD) to ₦3.59 trillion, funded by a larger loan book and a decent growth in its investment securities. In addition, the Bank’s shareholders’ funds similarly increased by 84.08% YtD owing to the improved financial performance realized by the Bank during the year 2024.