Agusto & Co Upgrades Wema Bank’s Rating To ‘A-‘, Reflects Strong Financial Performance

Pan-African ranking company, Agusto & Co, has upgraded Wema Financial institution’s ranking to “A-” from “Bbb+”, reaffirming a steady outlook for the Financial institution.

This determination, efficient June 17, 2025, displays Wema Financial institution’s bettering enterprise threat profile, pushed by sustainable profitability, working effectivity, good liquidity, and powerful shareholder assist.

Based on Agusto & Co, Wema Financial institution’s profitability has proven marked enchancment during the last three years, with the Financial institution’s liquidity profile thought of good and its capability to refinance deemed passable.

It famous that the financial institution’s dedication to environmental, social, and governance points has additionally been recognised, with the Financial institution contributing positively to socially impactful sectors and fostering inclusion and group growth throughout Nigeria.

“The Financial institution continues to contribute positively by way of credit score disbursements to socially impactful sectors similar to agriculture, energy and vitality, training, water provide, transportation and healthcare, which collectively represented about 16 per cent of its mortgage portfolio.

“As well as, Wema Financial institution’s ongoing partnership with the Enterprise Improvement Centre (EDC) and Mastercard to coach 50,000 girls, alludes to the Financial institution’s dedication to fostering inclusion and supporting group growth throughout Nigeria. Within the close to time period, we anticipate improved profitability supported by enterprise development from further capital”.

Wema Financial institution’s Managing Director/CEO, Moruf Oseni, counseled Agusto & Co for the target evaluation, noting the financial institution’s long-term aspiration of achieving Tier-1 standing and taking indigenous Nigerian establishments world.

Based on him, “As a Financial institution, we’re honoured by the extent of belief our clients place in us, the arrogance with which our shareholders proceed to assist the enterprise and the dedication with which our workers proceed to gas our development. It’s a privilege we don’t take as a right, and I take this chance to say, ‘Thank You’. That is the clear results of 80 years of affect, the onerous work that has gone into forging this formidable monetary establishment.”

“At this level, we will agree that Wema Financial institution’s capability to transcend time is past query. We’ve got performed it for 8 many years, and now standing stronger at 80 years, we’re ready to maintain the flag flying for hundreds of years to return. It’s time for the world to see the stuff that ‘Nigerian-owned’ is fabricated from, and we’re proud to pioneer this motion.

“I prolong our honest gratitude to Agusto & Co for acknowledging the expansion and sharing in our imaginative and prescient for the longer term. To each stakeholder of Wema Financial institution, from the massive entities partnering with us to the smallest enterprise proprietor that has positioned their belief in us, our promise is that Wema Financial institution won’t ever allow you to down. We are going to proceed to exceed all expectations, elevate the requirements, and persistently ship optimum worth to you; as we journey with you, all the way in which”, Oseni concluded.

This improve follows related scores upgrades from different businesses, together with Fitch and GCR, affirming Wema Financial institution’s robust monetary situation and capability to fulfill its obligations. With 80 years of expertise, Wema Financial institution continues to empower lives and companies, leveraging innovation to drive productiveness and effectivity within the African banking ecosystem.