Wema Bank PLC closed at N18.95 per share on Friday, October 3, 2025, on the Nigerian Exchange Limited (NGX), representing a 9.5% increase from the previous day’s closing price of N17.30, reflecting continued interest from value investors deepening their positions in the bank.
As Nigeria’s only surviving indigenous bank, Wema Bank has taken a leading role in the industry’s recapitalisation efforts. It recently became one of the first financial institutions to meet the Central Bank of Nigeria’s N200 billion minimum capital requirement, achieving this milestone six months ahead of the March 2026 deadline.
The bank’s successful N150 billion Rights Issue, offering 14.28 billion Ordinary Shares at N10.45 per share on the basis of two new Ordinary Shares for every three existing held as of March 4, 2025, was significantly oversubscribed, bringing its total qualifying capital to N214.7 billion. This oversubscription also highlights strong investor confidence in the bank’s performance, governance, and outlook.
Wema Bank has concluded a private placement of 4.55 billion shares at N11.00 per unit, amounting to N50 billion. The offer is currently awaiting regulatory approval.
The bank’s stock peaked at N21.95 on September 12, 2025, the highest among listed banks this year, delivering a 146% year-to-date return at that point. In July alone, Wema Bank’s shares gained 47.16%, outperforming the entire banking sub-sector and reinforcing its reputation as a top performer on the NGX.
“A healthy pullback after a strong rally is to be expected. What we’re seeing is profit-taking, not a loss of confidence. Long-term investors should see this as an opportunity,” commented a market analyst over the weekend.
Analysts attribute Wema Bank’s rising valuation to strong financial performance, strategic focus, and its proactive compliance with regulatory requirements. A recent equity research report by Global Asset Management Nigeria Limited, rated the stock as a compelling option for long-term investors seeking capital appreciation and reliable dividend income.
Sir Tunde Sobamowo, Managing Director of Global Asset, added:
“With nearly 75% of the bank’s issued share capital held in block ownership, the commitment of long-term investors continues to anchor Wema Bank’s intrinsic value and growth potential.”
The Bank’s Management has reiterated its commitment to delivering shareholder value: “Our goal is to ensure Wema Bank remains among the top-performing stocks in 2025. The newly raised capital will be strategically deployed to strengthen our balance sheet, expand lending, and support long-term, sustainable growth,” the bank stated.
The Bank has been commended for its disciplined execution of its post-recapitalisation strategy. Through its flagship digital platform, ALAT, the bank continues to lead innovation in Nigeria’s digital banking space, appealing to a growing base of tech-savvy customers and fintech-oriented investors.
Currently in the fifth phase (2024–2026) of its long-term transformation agenda, Wema Bank is positioning itself to attain Systemically Important Bank (SIB) status within the Nigerian financial system.
Managing Director/CEO Moruf Oseni concluded: “Beyond recapitalisation, our focus is to leverage our strengthened capital base to accelerate innovation, scale lending, expand customer acquisition, and contribute meaningfully to Nigeria’s economic growth.”
With solid fundamentals, enhanced capital strength, and a clear strategic direction, analysts agree that Wema Bank is well-positioned to capture the next wave of growth in Nigeria’s banking sector.
