Wema Bank Completes ₦150 Billion Rights Issue, Exceeds Capital Requirement
Wema Bank Plc has successfully completed a ₦150 billion Rights Issue, surpassing the CBN and SEC's approval requirements. The oversubscribed exercise, which closed on May 21, 2025, exceeded the minimum capital threshold for commercial banks.
In addition to the Rights Issue, the bank also concluded a ₦5 billion private placement, awaiting regulatory approval. These initiatives significantly boost Wema Bank's capital base, enhancing its growth potential and meeting regulatory demands well ahead of the CBN's 2026 recapitalization deadline.
The bank's management emphasized the achievement as a reflection of shareholder confidence and commitment to delivering value.
Plus234Feed summary based on reporting from News Online Nigeria. Read the original report below.
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