Wema Bank PBT hits N221.9 billion
Wema Bank Plc has reported a 116 per cent surge in Profit Before Tax (PBT) to N221.85 billion for the 2025 financial year, with Managing Director/Chief Executive Officer, Moruf Oseni,
- By Afiong Edemumoh
Wema Bank Plc has reported a 116 per cent surge in Profit Before Tax (PBT) to N221.85 billion for the 2025 financial year, with Managing Director/Chief Executive Officer, Moruf Oseni, describing the performance as one of the strongest in the bank’s history.
The audited results for the year ended December 31, 2025, show that Profit After Tax rose by 125.4 per cent to N194.46 billion, reflecting stronger earnings and improved efficiency across its operations.
Reacting to the results, Oseni emphasised the scale and consistency of the bank’s growth trajectory, stating: “Wema Bank has delivered one of the strongest growth trajectories in its history. From a Profit Before Tax of N14.75 billion three years ago, we grew to N43.59 billion in 2023 and reached N102 billion in 2024. In 2025, we have taken an even bolder step forward, recording a Profit Before Tax of N221 billion. This performance reflects disciplined execution, a resilient business model, and the unwavering commitment of our people.”
The bank’s top-line performance was driven by strong core income growth, with gross earnings rising by 52.8 per cent to N660.59 billion from N432.34 billion in 2024. Interest income grew by 62.7 per cent to N575.27 billion, supported by improved yields on earning assets and expansion in the loan book.
Net interest income more than doubled, increasing by 103.9 per cent to N361.01 billion, while non-interest income rose by 8.3 per cent to N85.32 billion, buoyed by transaction banking, digital banking revenues and foreign exchange-related income.
Operating income climbed by 79.6 per cent to N420.64 billion, underscoring stronger contributions from core banking activities.
Oseni attributed a significant part of the bank’s momentum to its digital transformation strategy, highlighting the role of its flagship digital platform.
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He said: “With ALAT 2.0, we are redefining the digital banking experience through enhanced intelligence, deeper personalization, and greater flexibility. It strengthens our position as a leading digital-first bank and expands our capacity to serve customers more intuitively and at scale.”
Operating expenses rose by 51 per cent to N198.79 billion due to inflationary pressures, regulatory costs and continued investments in technology and expansion. However, improved revenue growth ensured better cost efficiency, as the cost-to-income ratio declined to 47.3 per cent from 56.2 per cent.
On the balance sheet, total assets grew by 41.5 per cent to N5.07 trillion, while net loans and advances increased by 44.7 per cent to N1.74 trillion, reflecting sustained lending to key sectors of the economy.
Customer deposits rose by 30.3 per cent to N3.29 trillion, highlighting strong customer confidence and effective deposit mobilisation across retail and corporate segments. Shareholders’ funds also surged by 141.9 per cent to N620.47 billion, strengthening the bank’s capital base.
Profitability ratios remained robust, with Return on Average Equity at 44.35 per cent and Return on Average Assets improving to 4.49 per cent. The non-performing loan ratio, however, rose to 4.90 per cent from 3.86 per cent, reflecting macroeconomic pressures, though still within manageable limits.
In addition to the strong earnings performance, Oseni noted that the bank has taken strategic steps to secure its future growth.
He stated that the bank has successfully completed its capital raise, meeting the Central Bank of Nigeria’s recapitalisation requirements ahead of the regulatory deadline, positioning it for sustained expansion and long-term stability.
The bank also declared a dividend of N1.25 per share for the financial year, reinforcing its commitment to delivering value to shareholders.
