Wema Bank to issue second tranche of N50bn bond in May to boost capital ratio

Wema Bank plans to start issuing the second tranche of a Tier II capital increase from next month, which is part of a N50 billion ($159 million) programme, Ademola Adebise, its deputy chief executive said on Wednesday.

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

The lender 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.