Wema Bank Plc has reported a pre-tax profit of N221.8 billion in its audited 2025 financial statements, slightly below the previously announced unaudited figure of N222 billion. The result represents a remarkable 116.44% increase from the N102.5 billion recorded in 2024, highlighting robust growth in the bank’s core lending and investment activities.
The growth was largely fueled by interest income, which rose 62.4% year-on-year to N576.07 billion. Loans and advances accounted for the largest share, contributing N348.2 billion (60.4%), followed by investment securities at N204.4 billion (35.5%), with cash and cash equivalents making up the remaining N23.3 billion.
Interest expenses also rose, climbing 21.1% to N215.1 billion, leaving net interest income at N360.98 billion—a 103.9% increase from the previous year. After accounting for an impairment charge of N25.6 billion, net interest income after impairment settled at N335.2 billion, more than doubling the N155.4 billion recorded in 2024.
Non-interest income also strengthened, with net fee and commission income rising to N75.5 billion from N55.5 billion in 2024. Gains from fair value investment securities and trading income added N993.2 million and N8.3 billion, respectively, while other income contributed N392.5 million. This brought total operating income to N420.61 billion, up 79.6% from N234.2 billion in the previous year.
Operating expenses increased to N198.7 billion, leaving a pre-tax profit of N221.89 billion. After N27.4 billion in tax, post-tax profit reached N194.47 billion—a 125.4% rise from 2024. Earnings per share climbed to N7.12 from N4.83.
On the balance sheet, total assets grew to N5.07 trillion, up 41.16% from N3.5 trillion in 2024, with loans and advances to customers representing N1.7 trillion. Shareholder equity nearly doubled to N620.4 billion, supported by retained earnings of N215 billion, while total liabilities rose to N4.4 trillion, largely driven by customer deposits of N3.2 trillion.
Market response has been muted following the release of the audited results, with Wema Bank shares yet to register a strong reaction on the Nigerian Exchange. Nevertheless, the stock has recorded a 28.43% gain year-to-date amid steady trading, with market volume reaching 1.9 billion units.
Analysts say the performance underscores Wema Bank’s resilience and strategic focus on its lending and investment portfolios, positioning it well for sustained growth in 2026.