As Wema Bank continues its strong growth path to recovery, the Bank recently secured overUSD 50million dollars in trade lines from various foreign correspondent banks and development finance in excess of 20 million dollars to support SMEs amongst others.
Through these development, the Bank has reaffirmed its capacity to handle large international trade transactions, provide necessary finance and supportfor SMEs whilst alsounderscoring the confidence of foreign financial institutions in the Bank’s risk management systems.
In a previous statement, Wema Bank said that it remained committed to providing the value-adding financial support various sectors of the Nigerian economy – especially as it relates to SMEs.
Wema Bank’s recent return to profitability has been hailed as outstanding by industry watchers and investors given the challenges faced before the new management came on board. However, the management’s commitment to the transformation process it put in place has been hugely successful and has seen it return to profitability within 4 years whilst also instituting sound corporate governance and risk management frameworks in the process.
Established in 1945, Wema Bank offers various international trade and treasury services to its customers. For more information, visit, www.wemabank.com