Wema Bank to start second tranche of 50 bln naira debt programme in May


Wema Bank plc., has plans to start issuing the second tranche of a Tier II capital increase next month, part of a 50 billion naira ($159 million) programme. this was revealed by the deputy chief executive officer of the Nigerian lender, Ademola Adebise, on Wednesday.

Mr Adebise said the mid-tier lender hoped to boost its capital ratio, which is at 14.3 percent, higher than the regulatory minimum of 10 percent.

Wema expects 10 percent loan growth in 2018 targeting small firms, compared with a 4.92 percent drop in loan volume last year. The bank had aimed to grow loans by 1.5 percent in 2017. 

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