Wema Bank Reports 116% Profit Growth to N221.85bn

Wema Bank PLC achieved a remarkable 116% growth in profit before tax for the fiscal year 2025, totaling N221.85 billion, compared to N102.51 billion in 2024. This growth reflects a 125.4% increase from the previous year's profit of N194.5 billion.

The bank's gross earnings surged by 53% to N660.6 billion, primarily due to a 62.7% rise in interest income, which reached N361.0 billion. Non-interest income also grew modestly by 8.3% to N85.3 billion.

Operating income rose by 79.6% to N420.6 billion, supported by improved revenue generation capabilities. Despite a 51% increase in operating expenses to N198.8 billion, the bank maintained a positive operating leverage, with a cost-to-income ratio declining to 47.3%.

Total assets grew by 41.5% to N5.07 trillion, driven by a 44.7% increase in net loan advances to N1.74 trillion. Mr.

Moruf Oseni, the Managing Director and Chief Executive Officer, emphasized the bank's commitment to sustaining its growth momentum through digital innovation.