BY TEMITOPE ADEBAYO Wema Bank Plc has received shareholder approval to raise N50 billion through a private placement, reinforcing its capital base ahead of the Central Bank of Nigeria’s recapitalisation deadline for banks. The approval, granted at the bank’s annual general meeting, follows the completion of a N150 billion rights issue and signals Wema Bank’s […]
BY MOTOLANI OSENI Wema Bank Plc has granted over $200,000 to 18 innovative startups who have emerged victorious in its previous 5 Hackaholics, expecting the 2025 edition to take the prize money beyond the aforementioned amount. This invention, designed to foster technological advancements and entrepreneurship, has seen emerging tech startups growing to solve societal challenges […]
BY TEMITOPE ADEBAYO Wema Bank is set to raise N200 billion in fresh capital through a combination of a Rights issue and Special placement exercise. The exercise is set to go live on April 1, 2025 and would mark the second and final tranche of the bank’s capital raise exercise, supplementing the N40 billion raised […]
The Federal Government has partnered with Wema Bank to establish Micro, Small and Medium Enterprise (MSME) digital hubs in seven states, Vice-President Kashim Shettima has revealed. In a statement signed by the Director of Information in the Office of the Vice-President, Olusola Abiola, stated that Shettima said the hub will empower one million youths with […]
Wema Bank, Nigeria’s leading innovative bank, has partnered with the Federal Government of Nigeria to establish digital and skill innovation hubs across states in the country, with a target to empower one million youths with digital and other relevant skills. The initiative, known as FGN/ALAT Digital and SkillNovation Hub, was agreed upon during a meeting […]
By Temitope Adebayo Due to the huge financial challenges created by the coronavirus pandemic, as businesses are just slowly finding their feet, WEMA Bank has announced one million naira support fund to 20 school children, Daily Times gathered. The lender explained that this is because of the shortage of money created by the pandemic, while […]
To enhance service delivery to its customers, Wema Bank has partnered with Coursera known for specializing in online courses and to offer free courses to members of staff. This is to enable an increase in staff capacity to keep up with modern-day work practices and knowledge across several areas. With the global pandemic still […]
Due to the Federal Government’s directive to ease the nationwide restrictions on movement and key businesses, Wema Bank Plc will reopen all its branches nationwide. In a statement released by the bank, from Wednesday, June 3, 2020, all branch offices will resume normal services from 8:00 AM to 4:00 PM, Monday through to Friday. The […]
As part of the activities to celebrate its 75th anniversary, Wema Bank, the custodian of Africa’s first fully digital bank – ALAT – and one of Nigeria’s leading commercial banks has introduced an Earn-from-Home scheme. Celebrated as Nigeria’s most innovative financial institution, Wema Bank has achieved tremendous success over the years from its willingness to […]
With the ongoing global pandemic affecting businesses the world over, Wema Bank, has launched a Self Service banking platform for customers. The new Self Service banking feature, which is hosted on the bank’s digital platform, ALAT, uses an Interactive Voice Response (IVR) to generate information for customers and help them perform other banking needs. Customers […]
Wema Bank’s ALAT, Africa’s first fully digital bank went all out to excite travellers flying out of Lagos with the ALAT airport mural. The lender, in a statement on Monday said that the ALAT mural sprang out of an understanding of how travelling evokes different emotions in different people – excitement, paranoia, fear, anxiety, to […]
Andrew Orolua – Abuja A Lagos High Court sitting in Ikeja has sentenced a former Chief Accountant of Vanguard Newspapers, Bhadmus Abiodun, to seven years imprisonment for fraud. He was arraigned by the Economic and Financial Crimes Commission (EFCC), on an eight-count charge of conspiracy, forgery and stealing of about N3.1million belonging to his employer. […]
Motolani Oseni As part of its strategic reach expansion, Wema Bank has launched a new branch at 155 Ibrahim Taiwo Road, Ilorin, Kwara State. The new branch, designed with innovative features for improved customer experience, will strengthen the bank’s business in Ilorin and also provide local residents and business owners with their banking needs. The […]
In a bid to foster a healthier and sustainable savings culture in kids, Wema Bank has encouraged Nigeria students to build healthy savings habits at an early stage in life. The lender recently joined the world in celebrating the World Savings Day under the theme “decoding the financial educates challenge.” The bank visited several schools […]
Unity Bank Plc, Wema Bank Plc and Skye Bank Plc, have emerged as best banking performing shares in January, 2018. The three lenders share prices appreciated early in the year over foreign investors renewed interest in cheap shares and increased access to foreign exchange. Although, other 16 listed Deposit Money Banks (DMBs) on the Nigerian […]
ALAT, the digital bank powered by Wema Bank has been named the ‘Best Mobile Banking App’ and ‘Best Digital Bank for 2017’ in this year’s World Finance Digital Banking Awards. The World Finance Digital Banking Awards celebrate organizations that lead the way with digitalization while meeting consumer demands and mitigating against accompanying risks along the […]
. Records 16.79% growth in gross earnings Q3’2017 As part of effort in achieving its targeted clean clear balance sheet, Wema Bank Plc, has received the approval of its shareholders towards the attainment of its Scheme of Capital Reorganisation exercise. This is just as the lender continued to show signs of resilience, despite the economic […]
Wema Bank Plc. the pioneer of Nigeria’s first fully digital bank ALAT has continued its support for education through its annual Wema Educational Awards. The Bank is giving out N50,000 grant to 20 holders of its Royal Kiddies Account. “The importance of education to children cannot be overemphasized,” says Dotun Ifebogun, who heads Retail & […]
…Loans repayment default affecting lender-banks …Fitch affirms Nigeria’s sovereign ratings at B+; negative outlook Nigeria’s current economic hardships, especially induced by the recession, is believed to be responsible for the rising bad loans in 13 commercial banks. Consequently, unpaid debts by the banks’ customers accounted for the N230.6billion Non- Performing Loans (NPLs) in the first […]
The Chief Finance Officer (CFO), Wema Bank Plc, Mr. Tunde Mabawonku has said the lender might postponed second tranche N20 billion bond issuance, stressing that the bank is monitoring the interest rate regime in the country. The bank was targeting August to raise fresh capital in its expansion course following the Central Bank of Nigeria […]