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TalkBrand Africa Reports – In a significant affirmation of its financial strength and growth trajectory, Wema Bank has received an upgraded credit rating from Pan-African rating agency, Agusto & Co, moving from “Bbb+” to “A-” with a stable outlook. The upgrade, effective June 17, 2025, underscores the bank’s improving business risk profile and commitment to performance, inclusion, and innovation.
Agusto & Co cited “sustainable profitability, operating efficiency, good liquidity, and strong shareholder support” as key reasons for the upgrade. Wema Bank has recorded consistent improvement in profitability over the past three years, with its liquidity position also deemed satisfactory.
“Wema Bank’s ability to refinance its obligations is considered strong,” noted Agusto & Co.
“Its commitment to ESG principles and community development has not gone unnoticed.”
The agency highlighted Wema Bank’s positive social impact through strategic credit disbursement to sectors like agriculture, power and energy, education, water supply, transportation, and healthcare — collectively accounting for 16% of the bank’s loan portfolio.
Also earning praise is the bank’s ongoing partnership with the Enterprise Development Centre (EDC) and Mastercard to train 50,000 women — an initiative reflecting Wema’s dedication to “fostering inclusion and supporting community development across Nigeria.”
“This is the clear result of 80 years of impact,” says Moruf Oseni
Wema Bank’s Managing Director/CEO, Moruf Oseni, expressed appreciation for Agusto & Co’s objective review. He emphasized the bank’s ambition to evolve into a Tier-1 Nigerian bank with global relevance.
“As a Bank, we are honoured by the level of trust our customers place in us, the confidence of our shareholders, and the drive of our employees,” Oseni stated.
“This is the clear result of 80 years of impact. At this point, we can agree that Wema Bank’s capacity to transcend time is beyond question.”
He added:
“Now standing stronger at 80 years, we are prepared to keep the flag flying for centuries to come. It’s time for the world to see the stuff that ‘Nigerian-owned’ is made of.”
A Promise to Stakeholders
Oseni pledged to stakeholders across all tiers — from large corporates to small business owners — that Wema Bank will continue to “exceed expectations, raise the standards, and deliver optimum value.”
This upgrade adds to a string of recent rating affirmations from agencies like Fitch and GCR, further validating the bank’s resilience and financial health.
With a legacy spanning eight decades, Wema Bank continues to lead with innovation, sustainability, and impact — reinforcing its place in the evolving African banking ecosystem.
(C) TALKBRAND AFRICA