Wema Bank Stock Surges: Market Value Hits N1.19 Trillion

Wema Bank has experienced substantial growth, closing its shares at N29.60 on September 4, 2026, which gives it a market value of about N1.19 trillion. The stock has gained approximately 45% in 2026 and is trading near its 52-week high of N36.

The bank reported earnings per share (EPS) of N6.55 for H1 2026, suggesting a potential full-year EPS of around N13.10 if similar performance continues. However, this projection is complicated by the bank's historical performance, where H1 profits were significantly lower than full-year results due to an increased share count.

Wema's net interest income rose by 51% in H1 2026, and its loan book grew by 22%. The bank raised N200 billion in new capital to support organic growth and aims for tier-one banking status within two to three years.

Agusto & Co upgraded Wema's rating to A, citing improvements in profitability and liquidity, but warned that rapid loan growth could pressure credit-risk management.