Wema Bank Reports N154.5 Billion Profit for H1 2026

Wema Bank Plc declared a profit before tax of N154.5 billion for the unaudited half year (H1) ended June 30, 2026, reflecting a 53.65% increase from N100.6 billion in H1 2025. The profit after tax for H1 2026 reached N131.3 billion, a significant 157% rise from N87.5 billion in H1 2025.

This performance suggests that Wema Bank, one of Nigeria's oldest financial institutions, is entering a new phase of earnings expansion. The profit after tax for H1 2026 represents approximately 67.5% of the bank's total earnings for 2025, indicating a trajectory to surpass its previous profit record.

Over the past five years, the bank's profit after tax has grown from N8.93 billion in 2021 to N194.48 billion in 2025, achieving a compound annual growth rate of 116%. The Basic Earnings Per Share (EPS) for H1 2026 decreased by 19.81% to N6.55 per share due to an increased share count following a N150 billion rights issue and a N50 billion special placement, which were part of the Central Bank of Nigeria's recapitalization strategy.