Wema Bank Secures Over $50m Trade Lines of Credit from Foreign Correspondent Banks 

Wema Bank Plc has announced over the weekend the anticipated new credit lines/development finance for its customers.
The Bank secured over $50million (USD) in trade lines from various foreign correspondent banks and development finance in excess of $20million (USD) to support SMEs amongst others. Through these developments, the Bank has reaffirmed its desire/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.
Source: Proshare

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