Wema Bank Plc

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Wema Bank Plc

Transforming Banking Through Innovation and Excellence

Website:  https://wemabank.com
Wema Bank Plc, commonly known as Wema Bank, is a Nigerian commercial bank. It is licensed by the Central Bank of Nigeria; the regulator of the nation's banking sector. As of 2019, Wema bank operates the largest digital banking system in Nigeria, ALAT By Wema, which is fully in use in all of the nation's thirty seven states and territory.

History

Structure of Wema Bank office
The bank was established on May 2, 1945, as a private limited liability company (under the old name of Agbonmagbe Bank Limited). The bank was founded on May 2, 1945 as Agbonmagbe Bank by the Late Chief Mathew Adekoya Okupe. He set up the first branches of the bank which were in Ebute-metta, Sagamu, Abeokuta and Ijebu-Igbo. The bank remained his until it was taken over by Western Nigeria Marketing Board and later renamed Wema Bank Limited in 1969. Since then, Wema Bank has gone on to be Nigeria's longest surviving indigenous bank. 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.

In December 2015, Wema became a national bank, with a capital base of over N43.8billion having met the regulatory requirements for the National Banking license as stipulated by the Central Bank of Nigeria 

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Wema Bank Plc:

Transforming Banking Through Innovation and Excellence

Wema Bank Plc, affectionately known as Wema Bank, stands as a beacon of innovation and excellence within Nigeria's banking sector. As a licensed commercial bank under the regulation of the Central Bank of Nigeria, Wema Bank has carved a unique path, marked by digital transformation and a commitment to delivering superior financial services to its customers.

The bank's journey dates back to 1945 when it was founded as Agbonmagbe Bank Limited. Over the years, this humble beginning blossomed into Wema Bank PLC, marking a new era of growth and prominence. In 1990, the bank was listed on the Nigerian Stock Exchange, a move that garnered attention and set the stage for its future expansion.

A Trailblazer in Digital Banking: Wema Bank's forward-looking approach to banking is epitomized by its digital transformation. In 2017, the bank introduced ALAT By Wema, Nigeria's first fully digital bank. ALAT empowers users to conduct their banking activities seamlessly through mobile phones, PCs, or tablets, eliminating the need for physical visits to a bank branch. This innovative step positions Wema Bank as a pioneer in embracing digital technology to enhance customer experience.

Catalyzing Business Excellence: Wema Bank's commitment to innovation extends to the corporate sphere with ALAT For Business, the corporate version of its digital platform. This initiative streamlines business banking, providing efficient solutions tailored to the needs of enterprises.

Wema Bank's journey from a regional powerhouse to achieving national prominence has been marked by resilience and progress. With over 150 business offices and digital platforms, the bank serves millions of Nigerians and foreigners, offering a diverse array of banking services including retail, SME, trade, treasury, business advisory, and corporate banking.

A Symbol of Resilience and Progress: Wema Bank Plc's ticker symbol, WEMABANK, represents not just a company listed on the Nigerian Stock Exchange, but an emblem of resilience, innovation, and progress. It embodies the bank's enduring commitment to transforming banking experiences through cutting-edge technology and unwavering customer-centricity.

As Wema Bank Plc continues its journey of growth, digital evolution, and community impact, it stands as a testament to the transformative power of innovation and the remarkable potential of the Nigerian financial landscape.

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