BY MOSHOOD ISAMOTU / LAGOS
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Wema Bank PLC closed at ₦18.95 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 ₦17.30, reflecting continued interest from value investors deepening their positions in the bank.
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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 ₦200 billion minimum capital requirement, achieving this milestone six months ahead of the March 2026 deadline.
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The bank’s successful ₦150 billion Rights Issue, offering 14.28 billion Ordinary Shares at ₦10.45 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 ₦214.7 billion. This oversubscription also highlights strong investor confidence in the bank’s performance, governance, and outlook.
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Wema Bank has concluded a private placement of 4.55 billion shares at ₦11.00 per unit, amounting to ₦50 billion. The offer is currently awaiting regulatory approval.
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The bank’s stock peaked at ₦21.95 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.
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“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.
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Analysts attribute Wema Bank’s rising valuation to strong financial performance, strategic focus, and its proactive compliance with regulatory requirements.
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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.
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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.”
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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.
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The newly raised capital will be strategically deployed to strengthen our balance sheet, expand lending, and support long-term, sustainable growth,” the bank stated.
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The Bank has been commended for its disciplined execution of its post-recapitalisation strategy.
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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.
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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.
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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.”
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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.
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