Wema Bank has been named ‘Commercial Bank of the Year’ at the 2025 Nairametrics Capital Market Choice Awards, recognized for its record N102 billion pre-tax profit in 2024 and digital innovation

Wema Bank Plc, acclaimed as Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has been honoured with the prestigious ‘Commercial Bank of the Year’ Award at the 2025 Nairametrics Capital Market Choice Awards (NCMC Awards).

Also read: Wema Bank shareholders laud outstanding 2024 financial performance at AGM

The announcement was made at a glittering awards gala held on May 23, 2025, at the Civic Center in Lagos, celebrating leading performers across Nigeria’s capital markets.

The Nairametrics Capital Market Choice Awards operates as a data-driven platform dedicated to recognising excellence among publicly listed companies in Nigeria.

Winners are meticulously selected based on critical metrics including revenue growth, profitability, return on equity, and shareholder value creation.

The 2025 edition of the awards was aptly themed “Capital Market as a Catalyst for Nigeria’s Economic Transformation.”

Wema Bank earned the ‘Commercial Bank of the Year’ accolade for its exceptional financial performance, robust value creation, and consistent returns to shareholders.

In a highly competitive category that included several industry heavyweights, Wema Bank distinguished itself with a record-breaking ₦102 billion profit before tax in 2024, demonstrating strong year-on-year revenue and profitability growth.

Being named Commercial Bank of the Year is a powerful affirmation of the bold choices we’ve made to transform our business and deliver real value to our stakeholders.

The bank also boasted one of the strongest returns on average equity in the sector.

Its disciplined execution, investor-focused strategy, and ongoing leadership in digital innovation further solidified its appeal in the capital market, making it a clear and compelling choice for the award and cementing its position as a rising force among Nigeria’s top-tier financial institutions.

Receiving this significant honour during its 80th anniversary year adds profound meaning to the recognition. For eight decades, Wema Bank has undergone continuous evolution, transforming from a regional lender into the forward-looking, digitally-led national bank it is today.

Its recognition as ‘Commercial Bank of the Year’ not only reflects its recent stellar performance but also underscores a sustained commitment to resilience, reinvention, and excellence throughout its rich history.

Commenting on the award, Moruf Oseni, Managing Director and Chief Executive Officer of Wema Bank, expressed his profound satisfaction.

“Being named Commercial Bank of the Year is a powerful affirmation of the bold choices we’ve made to transform our business and deliver real value to our stakeholders. It’s a proud moment for Wema Bank – every employee, customer, and shareholder who has been part of this journey. As we mark 80 years of impact, this award celebrates the legacy we’re carrying forward and the future we’re determined to shape – one defined by innovation, trust, and sustainable growth.”

Further cementing its impressive standing, Wema Bank Plc also secured a nomination in the highly coveted ‘Company of the Year’ category, where it was notably the only financial institution shortlisted alongside two energy giants.