Wema Bank's H1 2026 Profit Soars to N131.4bn

Wema Bank Plc announced a profit after tax of N131.4bn for the first half of 2026, marking a 50.1% increase from N87.50bn in the same period of 2025. The bank's profit before tax rose by 53.7% to N154.56bn, up from N100.60bn.

Gross earnings increased by 36.9% to N415.09bn, primarily due to a 42.7% rise in interest income, which reached N342.64bn compared to N240.12bn the previous year. This growth reflects higher returns from lending activities and investment assets.

Wema Bank also reported a strengthening of its balance sheet, with total assets increasing by 13.5% to N5.76tn as of June 30, 2026, from N5.07tn at the end of December 2025. Loans and advances to customers rose by 21.7% to N2.12tn, while customer deposits grew nearly five percent to N3.45tn from N3.29tn, providing additional funding for the bank's expanding lending operations.

The results indicate Wema Bank's continued earnings momentum following its recapitalisation.