Wema Bank, Nigeria’s most innovative financial institution and 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 prestigious awards gala was held on May 23rd at the Civic Center, Lagos, where Nigeria’s top-performing publicly listed companies were honoured for excellence in financial performance and capital market impact.
Now in its latest edition, the NCMC Awards remain a data-driven recognition platform, with winners determined by critical performance indicators such as revenue growth, profitability, return on equity, and shareholder value creation. The 2025 theme, “Capital Market as a Catalyst for Nigeria's Economic Transformation,” reflected the growing importance of financial institutions in driving economic progress.
Wema Bank stood out in the highly competitive Commercial Bank of the Year category, beating industry heavyweights with its record-breaking ₦102 billion profit before tax in 2024, strong year-on-year revenue growth, and one of the highest returns on average equity in the sector. The bank’s investor-focused strategy, disciplined execution, and bold leadership in digital innovation were key factors that elevated it to the top.
“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,” said Moruf Oseni, Managing Director and Chief Executive Officer of Wema Bank. “It’s a proud moment for 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.”
Winning this award during Wema Bank’s 80th anniversary makes the achievement even more significant. From its beginnings as a regional bank, Wema has evolved into a nationally respected, digitally-led institution that continues to set new benchmarks in financial services.
In addition to its win, Wema Bank was also nominated for ‘Company of the Year’, standing as the only financial institution shortlisted in a category that included two energy sector giants — a rare distinction that reflects its influence across sectors and capital market leadership.
The NCMC Awards continue to spotlight companies that are not just excelling financially but also shaping Nigeria’s future economy. Wema Bank’s dual presence — winning Commercial Bank of the Year and earning a Company of the Year nomination — underscores its transformation into a forward-thinking, innovation-driven institution with growing relevance across industries.
This recognition caps a strong first half of 2025 for Wema Bank, as it continues to deliver on strategic objectives, celebrate a legacy of 80 years, and chart a bold course for the future of banking in Nigeria.