Wema Financial institution, certainly one of Nigeria’s oldest surviving banks, clocks 79 years immediately. Its historical past is certainly one of an increase from humble beginnings to the highest of banking in Nigeria.

Established by Late Chief Mathew Adekoya Okupe as a non-public restricted legal responsibility firm underneath the title Agbonmagbe Financial institution Restricted, it ran branches in Ebute-Metta, Sagamu, Abeokuta, and Ijebu-Igbo An enormous distinction to its present presence throughout main cities within the nation and past.

Even underneath the management of its founder, the financial institution flourished earlier than it was later acquired by the Western Nigeria Advertising and marketing Board.

Forty-two years after its institution, the previous partitions of Agbonmagbe reworked into what’s to be referred to immediately as Wema Financial institution. The transfer kickstarted a brand new part within the rise to prominence.  The identical 12 months, it obtained a industrial banking licence and launched operations in the identical 12 months.

In 1987, the financial institution grew to become a public restricted legal responsibility firm, and its itemizing on the Nigerian Inventory Trade in 1990 underneath the image WEMABANK adopted.

Whereas the financial institution sticks to its early promise, the most important shift to its operations didn’t come till February 2001 when the Central Financial institution of Nigeria granted it a Common Banking Licence. Since then, it has continued to develop, increasing its base within the monetary panorama.

In 2015, the financial institution was elevated from a regional banking licence to a nationwide licence.

Wema Financial institution PLC’s progress over time is value celebrating. From a modest institution, its merchandise throughout the 150 enterprise workplaces and digital platforms now present retail, SME, commerce, treasury, enterprise advisory, and company banking companies to hundreds of thousands of Nigerians and foreigners.

In keeping with the MD/CEO of Wema Financial institution, Mr. Moruf Oseni, the financial institution’s evolution has been a real story of resilience and transformation.

For Oseni, whereas the previous 79 years have been exceptional, the longer term will be much more inspiring.

“As we mark our 79th 12 months immediately, we reaffirm our dedication to empowering lives via innovation and exceeding our prospects’ expectations with unparalleled banking experiences tailor-made to their wants.

“We pledge to face by our prospects via each stage of life, providing enabling platforms to speed up their progress and propel them to extraordinary heights,” he mentioned.

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