Wema Bank History
Widely reputed as the longest surviving and most resilient indigenous bank in Nigeria, Wema Bank Plc has over the years, diligently offered a fully-fledged range of value-adding banking and financial advisory services to the Nigerian public.
Incorporated in 1945 as a Private Limited Liability Company (under the old name of Agbonmagbe Bank Limited) and commencing banking operations in Nigeria the same year, Wema Bank later transformed into a Public Limited Company (PLC) in April 1987 and was listed on the floor of the Nigerian Stock Exchange (NSE) in January 1990. On February 5, 2001, Wema Bank Plc was granted a universal banking licence by the Central Bank of Nigeria (CBN), thus allowing the Bank provide the Nigerian public with diverse financial and business advisory services.
However, in 2009, the Bank underwent a strategic repositioning exercise spearheaded by a new management team that has seen its profile rise considerably which finally culminated into its taking a sound strategic decision to operate as a commercial Bank with regional Scope in South-South Nigeria, South-West Nigeria, Lagos and Abuja in 2011. In 2015, the bank returned to being a national bank.