Wema Bank Plc has strengthened its capital base by successfully listing 4.55 billion ordinary shares valued at N50 billion on the Nigerian Exchange Limited (NGX).
The listing, which was completed on November 4, 2025, raises the issued share capital of the bank to 40.12 billion shares, up from 35.57 billion, at a price of N11.00 per share. The capital injection boosts the bank’s capital adequacy ratio and underpins its growth ambitions, by enhancing liquidity and supporting strategic investments, particularly in digital banking and retail expansion.
Wema Bank now ranks among the top 25 most capitalized companies on the NGX, with a market capitalization of N756 billion, representing about 0.8% of the total equity market capitalization. The stock closed at N18.85 on November 7, 2025, a 107% increase from its January opening price of N9.10. Although the shares have experienced a slight correction of about 6% over the past month due to profit-taking, the bank remains one of the NGX’s most actively traded stocks, with 659 million shares exchanged in the past three months.
The bank’s fundamentals were confirmed in its third-quarter 2025 financial results, showing a 42% year-on-year rise in gross earnings. This growth was driven by increased interest income from loans, higher non-interest revenue, and the success of its digital platform ALAT.
Pre-tax profit surged to N35.7 billion, compared to N25.1 billion in the same period of 2024. Total assets grew 26% year-on-year to exceed N2.1 trillion, supported by steady customer deposit growth. Market analysts view the private placement as well-timed, providing necessary capital buffer for expansion and risk-weighted asset coverage, especially ahead of an anticipated recapitalization push in Nigeria’s banking sector.
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