Wema Bank's Pre-Tax Profit Soars 76.62% in 2026

Wema Bank Plc (NGX: WEMABANK) announced its unaudited financial results for the nine months ending September 30, 2026, revealing a pre-tax profit of N258.64 billion, a 76.62% increase from N146.43 billion in the same period of 2025. Gross earnings surged by 45.72% to N673.24 billion, with profit after tax increasing by 72.56% to N219.84 billion.

In Q3 2026, the bank's pre-tax profit was N104.08 billion, accounting for 40.24% of its nine-month earnings. The growth was attributed to higher interest income, stronger non-interest earnings, and improved net interest income, despite rising funding costs and operating expenses.

Interest expenses rose by 35.60% to N217.68 billion, but net interest income increased by 38.31% to N325.88 billion. Impairment charges on financial assets rose by 21.19% to N18.54 billion.

Non-interest income grew by 96.93% to N129.68 billion. Total assets increased by 46.42% to N7.43 trillion, while customer deposits rose by 17.40% to N3.86 trillion.

Wema Bank shares closed at N32.00 on October 30, 2026, reflecting a year-to-date gain of 56.9%.