Wema Bank has secured over $50million in trade lines from various foreign correspondent and development finance institutions in excess of 20million dollars to support SMEs amongst others.
Through these developments, the bank reaffirmed its capacity to handle large international trade transactions, provide necessary finance and support for SMEs whilst also underscoring the confidence of foreign financial institutions in the bank’s risk management systems.
In an earlier statement, Wema Bank said it remained committed to providing the value-adding financial support to various sectors of the Nigerian economy – especially as it relates to SMEs.
Wema Bank’s recent return to profitability has been hailed by industry watchers and investors given the challenges it faced before the new management came on board.
However, the management’s commitment to the transformation process put in place has been 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.

Wema Bank secures $70m lines of credit to support SMEs