By Ayomide Otitoju
Wema Bank Plc has been awarded the prestigious title of ‘Commercial Bank of the Year’ at the 2025 Nairametrics Capital Market Choice Awards (NCMC Awards), cementing its position as one of Nigeria’s leading financial institutions. The award was presented during a high-profile gala held on May 23 at the Civic Center, Lagos, which honoured standout performers across Nigeria’s capital markets.
The NCMC Awards, known for its data-driven methodology, celebrates excellence among publicly listed companies, evaluating metrics such as revenue growth, profitability, return on equity, and value creation for shareholders. Themed “Capital Market as a Catalyst for Nigeria’s Economic Transformation,” the 2025 edition highlighted institutions that are driving economic change through performance and innovation.
Wema Bank stood out in the competitive ‘Commercial Bank of the Year’ category for its remarkable ₦102 billion profit before tax in 2024, a significant year-on-year growth in both revenue and profitability, and one of the highest returns on average equity in the sector. Its disciplined financial strategy, investor-focused approach, and continued leadership in digital banking—especially through ALAT, Africa’s first fully digital bank—contributed to its win.
The award comes as the bank marks its 80th anniversary, a milestone that underscores its long-standing legacy of innovation and resilience. From its roots as a regional lender, Wema Bank has evolved into a digitally driven national bank.
Reacting to the recognition, Wema Bank’s Managing Director and CEO, Moruf Oseni, said:
“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 every employee, customer, and shareholder. As we celebrate 80 years of impact, this award reflects the legacy we carry forward and the future we are determined to shape—one defined by innovation, trust, and sustainable growth.”
Further cementing its reputation, Wema Bank was also a nominee in the ‘Company of the Year’ category—standing as the only financial institution shortlisted alongside two major energy firms. The dual recognition highlights Wema’s increasing influence beyond traditional banking and its growing profile in Nigeria’s broader corporate landscape.
The NCMC Awards continue to spotlight companies that are not only excelling financially but also contributing meaningfully to Nigeria’s economic transformation. Wema Bank’s recognition affirms its position as a rising force in the financial sector, committed to innovation, performance, and stakeholder value.
