Wema Bank Plc has reported a profit before tax of N221.8 billion in its audited 2025 financial statements, compared to the unaudited figure of N222 billion.
This audited profit represents an 116.44% increase from N102.5 billion in 2024, mainly driven by growth in interest income, which forms the bulk of its top line.
Interest income rose to N576 billion from N354.6 billion, with loans and advances contributing 60.4%, investment securities 35.5%, and cash and cash equivalents making up the remainder.
Along with income from its non-interest activities, especially fees and commissions, the bottom line strengthened, with earnings per share rising to N7.12 from N4.83.
Key highlights (2025 vs 2024)
- Interest income: N576.07 billion, up 62.4% YoY
- Interest expense: N215.09 billion, up 21.1% YoY
- Net interest income: N360.98 billion, up 103.9% YoY
- Operating income: N420.61 billion, up 79.6% YoY
- Profit before tax: N221.89 billion, up 116.4% YoY
- Profit after tax: N194.47 billion, up 125.4% YoY
- Earnings per share (EPS): N7.12 vs N4.83
- Total assets: N5.06 trillion, up 41.16% YoY
Driving the numbers
An in-depth look at Wema Bank’s top line shows interest income of N576.07 billion, composed of loans and advances of N348.2 billion, investment securities of N204.4 billion, and cash and cash equivalents of N23.3 billion.
- As expected, interest expenses also rose, reaching N215 billion, up 21.13%, leaving net interest income at N360.9 billion.
- After an impairment of N25.6 billion, net interest income after impairment settled at N335.2 billion, up from N155.4 billion in the previous year.
On the non-interest side, net gains on fair value investment securities stood at N993.2 million, while net fee and commission income rose to N75.5 billion from N55.5 billion in 2024.
The bank also earned N8.3 billion from trading income and N392.5 million from other sources, bringing total operating income to N420.6 billion, up from N234.2 billion the previous year.
- Operating expenses increased to N198.7 billion, leaving a pre-tax profit of N221.8 billion, up 116.44%.
- After N27.4 billion in tax, the post-tax profit settled at N194.4 billion.
On the balance sheet, total assets jumped to N5.07 trillion from N3.5 trillion, with loans and advances to customers at N1.7 trillion, forming the largest portion of the asset base.
On the equity side, shareholder equity grew to N620.4 billion from N256.4 billion, with retained earnings at N215 billion, up 108.3% year-on-year. Total liabilities increased to N4.4 trillion from N3.3 trillion, with customer deposits of N3.2 trillion forming the bulk.
Market reaction
Shares of Wema Bank Plc have yet to show a strong reaction following the publication of its audited statements on the Nigerian Exchange.
The stock, however, is up 28.43% year-to-date, supported by steady trading, with market volume reaching 1.9 billion units.
