As Wema Bank continues its strong growth path to recovery, the bank recently secured overUSD50 million dollars in trade lines from various foreign correspondent banks and development finance in excess of 20million 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 support for SMEs whilst also underscoring 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.