Wema Bank posts record profit growth and asset expansion
Wema Bank Plc reported a significant rise in profit, driven by higher interest income, increased lending, and strong deposit growth. The bank’s audited results highlighted robust financial performance despite rising costs. Wema Bank also saw notable improvements in its balance sheet, with assets and equity both expanding sharply. The results reflect improved customer confidence and effective risk management.
TLDR
- Wema Bank posted a profit of N193.19bn for the 2025 financial year, a 124% increase from N86.28bn in 2024.
- Interest income rose 62.7% to N577.10bn in 2025, while net interest income grew 103.4% to N360.10bn.
- Operating income increased 76.5% to N413.33bn, but personnel and other operating expenses also rose significantly.
- Total assets expanded 40.8% to N5.06tn, and customer deposits grew 30.1% to N3.28tn as at December 2024.
- Total equity attributable to shareholders increased 142.4% to N621.70bn, supported by retained earnings and capital accretion.
