Nigeria's Wema bank eyes equity raise next year

LAGOS: Nigeria's Wema Bank plans to raise equity by 2018 to bolster its capital ratio and cut its operating cost as its new digital strategy gains traction, a senior executive said on Thursday.

The mid-tier lender said it cut loan growth this year to between one to two percent of total loans, down from 22.3 percent growth last year, Chief Finance Officer Tunde Mabawonku told an analysts call.