Wema Bank Plc has posted a remarkable financial performance for the 2025 financial year, recording a 116 per cent increase in Profit Before Tax (PBT) to N221.85 billion, up from N102.51 billion in 2024, as strong growth in core income and improved efficiency powered its results.
The bank, in its audited financial statement released in Lagos on December 31, 2025, said the performance reflects sustained momentum across its core business lines, supported by disciplined execution and a resilient operating model. It also disclosed a dividend of N1.25 per share for shareholders.
According to the results, gross earnings rose by 52.8 per cent to N660.59 billion from N432.34 billion in the previous year. This growth was largely driven by a 62.7 per cent increase in interest income, which climbed to N575.27 billion, reflecting stronger yields on earning assets and expansion of its loan portfolio.
Net interest income more than doubled, rising by 103.9 per cent to N361.01 billion, underscoring improved asset pricing and balance sheet expansion. Non-interest income also grew by 8.3 per cent to N85.32 billion, supported by transaction banking, digital services, and foreign exchange-related income.
Overall, operating income surged by 79.6 per cent to N420.64 billion, reinforcing the bank’s strong revenue generation capacity and solid performance across its core operations.
Profit after tax also recorded significant growth, rising by 125.4 per cent to N194.46 billion, while basic earnings per share increased to 712.80 kobo from 483.20 kobo in 2024.
Despite the strong revenue growth, operating expenses increased by 51 per cent to N198.79 billion, driven by inflationary pressures, regulatory costs, and ongoing investments in technology and business expansion. However, the bank achieved improved efficiency, with its cost-to-income ratio declining to 47.3 per cent from 56.2 per cent, indicating that revenue growth significantly outpaced cost growth.
Wema Bank also recorded substantial balance sheet expansion during the period. Total assets rose by 41.5 per cent to N5.07 trillion, while net loans and advances increased by 44.7 per cent to N1.74 trillion. Customer deposits grew by 30.3 per cent to N3.29 trillion, reflecting strong customer confidence and effective deposit mobilisation.
Shareholders’ funds surged by 141.95 per cent to N620.47 billion, highlighting the bank’s strengthened capital position and improved financial resilience.
Key performance indicators remained strong, with Return on Average Equity (ROAE) slightly improving to 44.35 per cent from 43.60 per cent, while Return on Average Assets (ROAA rose sharply to 4.49 per cent from 2.96 per cent. However, the bank noted a slight increase in its non-performing loan (NPL) ratio to 4.90 per cent from 3.86 per cent, reflecting broader macroeconomic pressures, though still within manageable levels.
Commenting on the results, Managing Director/Chief Executive Officer, Moruf Oseni, said the bank’s performance underscores its consistent growth trajectory and strong execution strategy.
“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,” Oseni said.
He added that digital innovation continues to drive the bank’s growth, highlighting the launch of ALAT 2.0 as a key milestone in enhancing customer experience.
“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,” he said.
Oseni also disclosed that Wema Bank had successfully completed its capital raise, meeting the Central Bank of Nigeria’s recapitalisation requirements ahead of schedule, positioning the institution for sustained growth and long-term stability.
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