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Wema Bank


Business Directory » Banking / Finance » Microfinance Banks
Nigeria

History

The bank was established in 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

Wema Bank Plc, commonly known as Wema Bank, is Nigeria's most resilient and the longest surviving indigenous commercial bank.

Wema Bank
Wema Bank interior
Wema Bank interior
                                                                           Wema_headquarters__Marina__Lagos
                                                                                          Wema headquarters Marina Lagos

 

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.

Subsidiaries

The subsidiary companies of Wema Bank Plc. include the following:

  1. Wema Assets Management Limited - Lagos, Nigeria - 100% Shareholding
  2. Wema Registrars Limited - Lagos, Nigeria - 100% Shareholding
  3. Wema Insurance Brokers Limited - Lagos, Nigeria - 100% Shareholding
  4. Wema Homes Limited - Lagos, Nigeria - 100% Shareholding
  5. Wema Securities and Finance Plc. - Lagos, Nigeria - 80% Shareholding
  6. Frontage Communications Limited - Lagos, Nigeria - 80% Shareholding

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

Centenary Bank Stock Ownership
RankName of OwnerPercentage Ownership
1SW8 Investment Ltd31.33
2Odu'a Investment Company Limited9.47
3Private Investors & Wema Bank Staff59
 Total100.0

Branch network

The bank's branch network spans the entire country.

 

 

 

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