Wema Bank

Wema Bank Plc.
Public
NSE :WEMABANK
Industry Financial services
Founded 1945
Headquarters Lagos, Nigeria
Key people
 Adeyinka Asekun, 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 Nigeria's longest surviving indigenous commercial bank.

History

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

Wema Bank is a large financial services provider that has been in the banking business continuously for the past 65 years. It is the oldest indigenous commercial bank in Nigeria.[3][4][5]

Ownership

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 OwnerPercentage Ownership
1SW8 Investment Ltd24.29
2Odu'a Investment Company Limited10
3Private Investors & Wema Bank Staff65.71
Total100.0

Branch network

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

See also

References

  1. ↑ Wema Bank Audited Financials 2012
  2. ↑ The History of Wema Bank
  3. ↑ Overview of Wema Bank
  4. ↑ http://allafrica.com/stories/201002260264.html Wema Bank Is One of Ten Nigerian Banks In Need of Recapitalization]
  5. ↑ South African Financial Houses Express Interest In Troubled Nigerian Banks
  6. ↑ Shareholders of Wema Bank Plc.
  7. ↑ Branch Network of Wema Bank
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