Wema Bank

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Wema Bank Plc.
Public
NSE :WEMABANK
Industry Financial services
Founded 1945
Headquarters Lagos, Lagos State, Nigeria
Key people
Babatunde Kasali, Chairman
Segun Oloketuyi, MD/CEO
Products Loans-ROD, FTL, WAAS, credit cards, savings – WTA, PCA, DA, WETSA, investments, mortgages
Total assets ₦ 245,704,597,430 (2012)[1]
Number of employees
1,317
Website www.wemabank.com

Wema Bank Plc, commonly known as Wema Bank, is a Nigerian commercial bank.

History[edit]

The bank was established on May 2, 1945, as a private limited liability company. It was granted a commercial banking license and commenced banking activities during the same year. Wema Bank converted to a public limited liability company in 1987. In 1990, the bank was listed on the Nigerian Stock Exchange. It trades under the symbol: WEMABANK. It was granted a Universal Banking License in February 2001.[2]

Overview[edit]

Wema Bank is a large financial services provider that has been in the banking business continuously for more than 70 years. It is the oldest indigenous commercial bank in Nigeria.[3][4][5]

Ownership[edit]

Wema Bank Plc. is a publicly traded limited liability company, trading under the symbol WEMABNK on the Nigerian Stock Exchange. According to the company website, the shareholding in the bank is as depicted in the table below:[6]

Centenary Bank Stock Ownership
Rank Name of Owner Percentage Ownership
1 SW8 Investment Ltd 24.29
2 Odu'a Investment Company Limited 10
3 Private Investors & Wema Bank Staff 65.71
Total 100.0

Branch network[edit]

The bank's branch network spans the entire country.[7]

See also[edit]

References[edit]

External links[edit]