WATCH THE VIDEO HERE By Aduragbemi Omiyale An improvement in the capitalisation metrics of Wema Bank Plc after a capital injection of about N21 billion in 2023 has spurred GCR ratings to upgrade the lender’s national scale long-term issuer ratings to BBB(NG) from BBB-(NG). In a statement seen by Business Post, the rating agency noted that it has also affirmed the company’s short-term issuer rating of A3(NG), with the Outlook revised to Stable from Rating Watch Positive. GCR noted that it expects the bank’s core capital ratio to register between 17 per cent and 18 per cent by December 31, 2024, from 14.1 per
GCR Upgrades Wema Bank Rating After Improvement in Capitalisation Metrics
