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

…Bank Exceeds Regulatory Requirements

Wema Bank PLC (Bloomberg: Wema NL) (“Wema” or “the Bank”) is pleased to announce the successful completion of the second tranche of its ₦50 billion capital raise via a fully subscribed Special Placement.

• ₦50 billion Special Placement 100% subscribed
• Total Qualifying Capital now ₦264.87 billion – surpassing the ₦200 billion regulatory threshold
• Bank further exceeds regulatory requirements for a Commercial Bank with National Authorization

This ₦50 billion Private Placement follows the successful ₦150 billion Rights Issue concluded in September 2025, bringing Wema Bank’s total qualifying capital to ₦264.87 billion—well above the Central Bank of Nigeria’s (CBN) minimum capital requirement for commercial banks with national authorization.

This development marks another significant milestone in the execution of the Bank’s capital management program, which aims to strengthen the balance sheet, support future growth ambitions, and ensure full compliance with regulatory capital requirements.

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

“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 the capital raise will be strategically deployed to accelerate Wema Bank’s digital transformation, deepen its reach across the retail, SME, and corporate banking segments, and expand its lending capacity to key productive sectors of the Nigerian economy. The funds will also support ongoing investments in technology and human capital development—enhancing operational efficiency and service excellence.

Wema Bank remains committed to delivering superior value to its shareholders, empowering customers through innovative financial solutions, and contributing meaningfully to Nigeria’s economic growth and financial inclusion objectives.