Lagos: Wema Bank Plc has announced its strategic ambition to ascend into Nigeria’s tier-one banking echelon, bolstered by robust earnings growth, new capital inflows, and a comprehensive expansion strategy. The bank’s Managing Director and Chief Executive Officer, Mr. Moruf Oseni, highlighted these efforts during the bank’s Annual General Meeting (AGM) held in Lagos.
According to News Agency of Nigeria, Oseni emphasized the bank’s consistent profitability improvement over the past three years. He stated that management and staff are actively positioning Wema Bank for a top-tier status, with a notable increase in earnings reflecting the successful execution of its growth strategy. The bank’s profit trajectory has shown significant growth, rising from N42 billion to N102.51 billion, and reaching N221.9 billion in the 2025 financial year, marking nearly a fivefold increase within three years.
Oseni attributed this remarkable performance to disciplined execution, structural reforms, and long-term investments made during the bank’s earlier transformation phases. He also addressed the bank’s dividend policy, reiterating a commitment to reward shareholders while maintaining capital for future growth opportunities. Oseni mentioned that Wema Bank is preparing for strategic opportunities, although specific details remain undisclosed.
Furthermore, Oseni acknowledged the bank’s staff as the ‘Knights of Wema Bank’ for their dedication and credited shareholders, board members, and customers for their ongoing support. The bank plans to utilize proceeds from its recent capital raise to expand its loan portfolio, strengthen its digital banking platforms, and enhance cybersecurity infrastructure.
The bank’s strategy includes deepening its national presence through a ‘follow-the-money’ approach, focusing on branch expansion in commercially viable locations. Board Chairman, Mrs. Oluwayemisi Olorunshola, noted that 2025 marks Wema Bank’s 80th anniversary. She described this milestone as a call to build a future-ready institution while reaffirming the bank’s commitment to delivering value to shareholders, customers, employees, and the Nigerian economy.
Additionally, Wema Bank’s audited results for the year ending December 31, 2025, showed a profit before tax of N221.8 billion, a 116.44 percent increase from N102.5 billion in 2024. This growth was driven largely by strong interest income, which increased to N576 billion from N354.6 billion, supported by loans and advances, investment securities, and cash holdings.