Wema Bank, widely regarded as Nigeria’s most innovative bank and the pioneer of Africa’s first fully digital bank, ALAT, has been named ‘Commercial Bank of the Year’ at the 2025 Nairametrics Capital Market Choice Awards (NCMC Awards). The announcement was made during a prestigious gala held on May 23 at the Civic Center in Lagos, where top performers across Nigeria’s capital markets were honoured.
The Nairametrics Capital Market Choice Awards is a data-driven platform that celebrates excellence among publicly listed Nigerian companies. Winners are chosen based on key performance indicators, including revenue growth, profitability, return on equity, and shareholder value creation. The theme for the 2025 edition was “Capital Market as a Catalyst for Nigeria’s Economic Transformation.”
The NCMC Awards recognised Wema Bank for its exceptional financial performance, value creation, and consistent returns to shareholders. In a highly competitive ‘Commercial Bank of the Year category’ that included industry heavyweights, Wema stood out for its record-breaking ₦102 billion profit before tax in 2024, robust year-on-year revenue and profitability growth, and one of the strongest returns on average equity in the sector. The bank’s disciplined execution, investor-focused strategy, and continued leadership in digital innovation further strengthened its capital market appeal, making it a clear choice for the award and a rising force among Nigeria’s top-tier financial institutions.
Receiving this honour during its 80th anniversary year adds profound meaning to the recognition. For eight decades, Wema Bank has continually evolved, transforming from a regional lender into a forward-looking, digitally-led national bank today. Its recognition as ‘Commercial Bank of the Year’ reflects not just recent performance but a sustained commitment to resilience, reinvention, and excellence.
Commenting on the award, Moruf Oseni, Managing Director and Chief Executive Officer of Wema Bank, 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 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.”
Wema Bank PLC also earned a nomination in the highly competitive Company of the Year category, where it stood as the only financial institution shortlisted alongside two energy giants. Wema’s presence in both categories underscores its growing reputation as a high-performing, innovation-driven institution within and beyond the banking sector.
The NCMC Awards continues to spotlight institutions driving meaningful change and setting new benchmarks in Nigeria’s capital markets. Wema Bank’s dual presence of winning Commercial Bank of the Year and earning a rare nomination in the Company of the Year category reinforces its growing influence beyond traditional banking. It is a testament to the bank’s evolution into a dynamic, future-ready institution delivering impact across sectors.
This accolade further highlights Wema Bank’s momentum in 2025, as the institution continues to deliver on its strategic goals while celebrating 80 years of banking excellence and innovation.
