Wema Bank- Top50 Brands 2025

Wema Bank Plc

Year of Establishment

1945 as Agbonmagbe Bank; renamed Wema Bank in 1969

Website

www.wemabank.com

Headquarters

54 Marina, Lagos Island, Lagos State, Nigeria

MD / CEO

Moruf Oseni)

Chairman

Dr. (Mrs) Oluwayemisi Olorunshola

Number of Branches / Operations

149 branches

Areas of Interest

Retail, Commercial, and Corporate Banking; digital banking (ALAT), ALAT for Business, USSD banking (*945#), SARA (women-focused), CoopHub, Hackaholics, PayTech platforms

Countries of Operation

Primarily Nigeria

Annual Turnover / Revenue

₦234.21 billion in 2024 (up 91.3% YoY)

Number of Staff

2,342 employees

Marketing Budget

Not publicly disclosed

Contact Address

54 Marina, Lagos Island, Lagos

Flagship Product / Offering

ALAT by Wema – Nigeria’s first fully digital bank; additionally USSD (*945#), ALATHUB, SARA, CoopHub, Hackaholics

Best Known As

Nigeria’s oldest indigenous bank, a digital banking pioneer recognized for innovation, inclusion, and customer-centric services



Wema Bank Plc is one of Nigeria’s pioneering and customer-focused financial institutions, known for its innovative banking solutions, long-standing history, and commitment to financial inclusion. Founded in 1945, Wema Bank has grown to become a key player in Nigeria’s banking sector, consistently providing reliable, accessible, and technologically advanced services to individuals, SMEs, and corporate clients.

The bank offers a comprehensive portfolio of retail banking, corporate banking, digital banking, treasury services, trade finance, and SME-focused solutions. Its innovative approach is best exemplified by ALAT by Wema, Nigeria’s first fully digital bank, which provides customers with seamless, convenient, and secure access to banking services through mobile and online platforms. ALAT has revolutionized banking in Nigeria by offering instant account opening, automated savings, bill payments, fund transfers, and lending solutions, making financial services more accessible to a wider population.

Wema Bank’s success is reflected in its strong financial performance and operational growth, with consistent profitability and resilience even during challenging economic periods. The bank has strategically focused on digital transformation, financial inclusion, and customer empowerment, which has strengthened its market position and enhanced trust among clients.

Wema Bank’s operational excellence, governance, and risk management policies ensure transparency, security, and reliability across all banking operations, reinforcing customer confidence and investor trust.

The Bank is also committed to corporate social responsibility (CSR), with initiatives that focus on education, youth empowerment, financial literacy, health, and community development. Programs like scholarships, skill acquisition workshops, and health outreach initiatives have positively impacted thousands of Nigerians, reflecting the bank’s dedication to societal development.

Over the years, Wema Bank has received multiple awards and recognitions, including accolades for Best Digital Bank, Innovation in Financial Services, Customer Service Excellence, and SME Banking Leadership and many more.

Through its innovative banking solutions, digital platforms like ALAT, and dedication to community empowerment, Wema Bank Plc continues to solidify its position as a leading financial institution in Nigeria, driving financial inclusion, technological advancement, and sustainable economic growth.