Wema Bank Plc has reported a profit before tax of N221.8 billion in its audited 2025 financial results, marking a 116.4 per cent surge from N102.5 billion recorded in 2024.
The strong performance was largely driven by a significant rise in interest income, supported by growth in loans and investment securities.
Interest income climbed to N576.1 billion, up 62.4 per cent year-on-year, with loans and advances contributing 60.4 per cent, investment securities 35.5 per cent, and cash balances making up the rest.
Despite a 21.1 per cent increase in interest expenses to N215.1 billion, net interest income more than doubled to N361 billion. After accounting for impairment charges of N25.6 billion, net interest income stood at N335.2 billion, up sharply from N155.4 billion in 2024.
Non-interest income also supported growth, with net fee and commission income rising to N75.5 billion from N55.5 billion. The bank recorded N8.3 billion in trading income and additional gains from investment securities, pushing total operating income to N420.6 billion, up 79.6 per cent year-on-year.
Operating expenses rose to N198.7 billion, but this was outpaced by revenue growth, resulting in pre-tax profit of N221.8 billion. After a tax charge of N27.4 billion, profit after tax came in at N194.5 billion, up 125.4 per cent.
Earnings per share increased to N7.12 from N4.83, reflecting improved profitability for shareholders.
On the balance sheet, total assets expanded by 41.2 per cent to N5.07 trillion, driven largely by loans and advances to customers, which stood at N1.7 trillion.
Shareholders’ funds also grew significantly to N620.4 billion from N256.4 billion, supported by retained earnings of N215 billion, up 108.3 per cent year-on-year. Total liabilities rose to N4.4 trillion, with customer deposits accounting for N3.2 trillion.
Despite the strong earnings performance, the bank’s shares have yet to show a major reaction on the Nigerian Exchange. However, the stock remains up 28.4 per cent year-to-date, with trading volume reaching 1.9 billion units.
