Wema Bank, Nigeria’s trailblazing financial institution and the pioneer of Africa’s first fully digital bank, ALAT, has clinched the prestigious ‘Commercial Bank of the Year’ title at the 2025 Nairametrics Capital Market Choice Awards (NCMC Awards). The honour was conferred during a high-profile gala held on May 23rd, 2025, at the Civic Center in Lagos, where Nigeria’s top-performing capital market players were celebrated.
The NCMC Awards, known for its rigorous data-driven selection process, recognises excellence among publicly listed companies based on metrics such as revenue growth, profitability, return on equity, and shareholder value creation. Themed “Capital Market as a Catalyst for Nigeria’s Economic Transformation,” the 2025 edition spotlighted organisations that are shaping Nigeria’s economic future.
Wema Bank stood out in the highly competitive commercial banking category, outshining industry heavyweights with its record ₦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-centric strategy, prudent execution, and leadership in digital banking made it a clear winner.
Receiving the award in its 80th anniversary year, Wema Bank’s recognition marks a significant milestone in its journey from a regional lender to a digitally driven national institution. The award not only celebrates its recent financial accomplishments but also honours its long-standing culture of innovation, resilience, and transformation.
Moruf Oseni, Managing Director and CEO of Wema Bank, expressed his pride and gratitude, stating:
“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.”
Further cementing its growing reputation, Wema Bank was also shortlisted for the coveted ‘Company of the Year’ award, standing as the only financial institution nominated alongside two leading firms from the energy sector. This dual recognition underscores Wema’s influence beyond traditional banking and affirms its role as a key driver of innovation and growth within the Nigerian economy.
The 2025 NCMC Awards continues to spotlight institutions setting new benchmarks in corporate excellence. Wema Bank’s success at the event reflects its continued evolution into a future-ready, high-performing institution—one that is not only navigating change but defining it. As the bank progresses through its 80th anniversary year, this award reinforces its commitment to delivering stakeholder value and shaping the future of banking in Nigeria.