Wema Bank's N50bn Special Placement Fully Subscribed, Strengthens Capital Base
Wema Bank Plc announced the successful completion of a fully subscribed N50 billion special placement, following regulatory approval. This move is part of the bank's capital management program to fortify its balance sheet and ensure compliance with the Central Bank of Nigeria's revised minimum capital requirements.
The Managing Director, Moruf Oseni, expressed delight at the milestone, emphasizing the bank's commitment to enhancing its capital base, liquidity, and operational efficiency. Wema Bank aims to deploy the raised capital to accelerate its digital transformation, expand lending capacity, and support key sectors of the Nigerian economy.
The bank's recent financial performance, including a reported profit before tax of N101.2 billion in the first half of 2025, reflects its strategic growth agenda.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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