Wema Bank Concludes Capital Raise Second Tranche Of ₦50 Billion Special Placement Fully Subscribed

…..Bank Further Exceeds Regulatory Requirements

Wema Bank PLC (Bloomberg: Wema NL) (“Wema” or “the Bank”) announces completion of its second tranche of N50billion capital raise.

•             N50billion Special placement subscribed by 100%

•             Total Qualifying Capital now N264billion; above N200bn threshold

•             Bank further surpasses regulatory requirements for Commercial Bank with National Authorization

Wema Bank Plc is pleased to announce that it has received all requisite regulatory approvals for its ₦50 billion Private Placement capital raise.  This is in addition to the earlier ₦150bn Rights Issue that was successfully completed in September 2025. The Bank now has a total of ₦264.87billion in qualifying capital, above the minimum requirement of N200bn for a Commercial Bank with National Authorization.

This development marks another significant milestone in the execution of the Bank’s capital management program aimed at fortifying its balance sheet, supporting future growth ambitions, and ensuring full compliance with the Central Bank of Nigeria’s (CBN) revised minimum capital requirements.

Speaking on the development, Mr. Moruf Oseni, Managing Director/Chief Executive Officer of Wema Bank, stated:

“We are delighted to have received all necessary regulatory approvals for our ₦50 billion special placement. This marks another major step in our strategy to strengthen Wema Bank’s capital base, enhance liquidity, and position the institution to pursue emerging opportunities for sustained growth. We appreciate the continued confidence and support of our shareholders, regulators, and customers as we execute our growth agenda.”

The proceeds from this capital raise will be deployed to continue the acceleration of Wema Bank’s digital transformation drive, deepen penetration across retail, SME, and corporate segments, and enhance the Bank’s lending capacity to key productive sectors of the Nigerian economy. It will also support ongoing investments in technology, and human capital development — further strengthening operational efficiency and service excellence.

Wema Bank remains steadfast in its mission to deliver superior value to shareholders, empower customers through innovative financial solutions, and contribute meaningfully to Nigeria’s economic growth and financial inclusion objectives.