Wema Bank Plc, one of Nigeria’s oldest financial institutions, has officially entered the N1 trillion market capitalisation club, becoming the latest tier-two lender to hit the milestone after Ecobank, Fidelity Bank, and Stanbic IBTC.
The development underscores growing investor confidence in Nigeria’s mid-tier banks, as the sector continues to attract renewed attention from market participants seeking value beyond the country’s largest lenders.
At the close of trading on Tuesday, February 3, Wema Bank’s shares gained 4.2 percent, rising to N24.95 per share, up from N23.95 the previous day. The stock began the year at N20.40, marking a 22.3 percent year-to-date gain, positioning the bank among the top performers on the Nigerian Stock Exchange (NGX).
According to data from African Stock Exchange, a market analytics platform, Wema Bank now ranks as the 24th most valuable stock on the NGX, with a market capitalisation of N1 trillion, representing about 0.94 percent of the NGX equity market.
Earnings Boost Drives Market Rally
The surge in market value follows a notable improvement in the bank’s financial performance. Wema Bank’s profit after tax more than doubled in 2025, rising by 124 percent to N193.2 billion, up from N86.3 billion in 2024. The growth was driven by higher interest income, strong loan expansion, and improved operating cash flows.
The bank’s unaudited financial statements for the year ended December 31, 2025, showed that gross earnings rose to about N653.3 billion, compared with N433.4 billion in 2024. The increase reflects higher yields on loans and investment securities amid Nigeria’s elevated interest rate environment.
Interest income also saw a significant jump, increasing to N577.1 billion from N354.6 billion the previous year. This performance was supported by a substantial expansion in loans and advances to customers, which grew by 45 percent to N1.75 trillion, up from N1.20 trillion in 2024.
The bank’s income from investment securities also increased, indicating active balance sheet management and strategic positioning in response to market conditions.