Lagos, Nigeria — Wema Bank PLC has been awarded the prestigious title of Commercial Bank of the Year at the 2025 edition of the Nairametrics Capital Market Choice (NCMC) Awards.
The announcement was made during a gala ceremony held in Lagos to honor top performers in Nigeria’s capital markets. Organised by Nairametrics, the NCMC Awards is a data-driven platform that celebrates excellence among publicly listed Nigerian companies, with evaluation criteria including revenue growth, profitability, return on equity, and shareholder value creation.
This year’s awards, themed “Capital Market as a Catalyst for Nigeria’s Economic Transformation,” highlighted institutions setting the pace in financial performance and innovation.
According to a statement by Wema Bank, the award recognizes the institution’s exceptional financial results and sustained value delivery to shareholders. In a fiercely contested category, Wema Bank distinguished itself with a record-breaking ₦102 billion profit before tax in 2024, robust year-on-year growth, and one of the sector’s highest returns on average equity.
Moruf Oseni, Managing Director and CEO of Wema Bank, expressed pride in the recognition, stating, “Being named Commercial Bank of the Year is an affirmation of the bold choices we’ve made to transform our business and deliver real value to our stakeholders. 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.”
In addition to winning the Commercial Bank of the Year, Wema Bank was also shortlisted in the elite Company of the Year category—standing out as the only financial institution nominated alongside two major energy firms. This rare dual recognition, the bank noted, underscores its growing influence within and beyond the banking sector.
Wema Bank’s performance in both categories highlights its ongoing evolution into a future-ready, innovation-driven financial institution contributing significantly to Nigeria’s economic advancement.
The NCMC Awards continues to spotlight companies transforming Nigeria’s capital markets landscape through resilience, strategic execution, and measurable impact.
By Makinde oyinkansola| June 3, 2025
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