Wema Bank Plc has posted a remarkable financial performance for the 2025 financial year, with Profit Before Tax (PBT) soaring by 116 per cent to N221.85 billion—one of the strongest results in its history.
The bank’s audited results for the year ended December 31, 2025, also show Profit After Tax rising by 125.4 per cent to N194.46 billion, underscoring robust earnings growth and improved operational efficiency.
Managing Director and Chief Executive Officer, Moruf Oseni, described the performance as a reflection of sustained strategic execution and resilience. He highlighted the bank’s rapid growth trajectory, noting that PBT climbed from N14.75 billion three years ago to N43.59 billion in 2023, N102 billion in 2024, and more than doubled again in 2025.
Gross earnings rose significantly by 52.8 per cent to N660.59 billion, driven largely by core income expansion. Interest income jumped 62.7 per cent to N575.27 billion, supported by higher yields and a growing loan portfolio.
Net interest income more than doubled, increasing by 103.9 per cent to N361.01 billion, while non-interest income grew modestly by 8.3 per cent to N85.32 billion, boosted by transaction services, foreign exchange activities, and digital banking revenues.
Operating income surged by 79.6 per cent to N420.64 billion, reflecting stronger contributions from core banking operations.
A major driver of the bank’s performance was its digital transformation strategy, particularly its flagship platform, ALAT. Oseni said the upgraded ALAT 2.0 platform is enhancing customer experience through improved personalization, intelligence, and scalability, reinforcing the bank’s position as a digital-first institution.
Despite a 51 per cent increase in operating expenses to N198.79 billion—due to inflation, regulatory costs, and continued technology investments—the bank improved efficiency, with its cost-to-income ratio declining to 47.3 per cent from 56.2 per cent.
On the balance sheet, total assets expanded by 41.5 per cent to N5.07 trillion, while net loans and advances grew by 44.7 per cent to N1.74 trillion, reflecting sustained credit support to key sectors.
Customer deposits rose by 30.3 per cent to N3.29 trillion, indicating strong customer confidence across retail and corporate segments. Shareholders’ funds surged by 141.9 per cent to N620.47 billion, strengthening the bank’s capital base.
Profitability metrics remained strong, with Return on Average Equity at 44.35 per cent and Return on Average Assets at 4.49 per cent. However, the non-performing loan ratio increased slightly to 4.90 per cent from 3.86 per cent, attributed to prevailing macroeconomic challenges.
Oseni also revealed that the bank has successfully completed its capital raise, meeting the recapitalisation requirements set by the Central Bank of Nigeria ahead of schedule—positioning it for sustained growth and long-term stability.
In line with its strong performance, the bank declared a dividend of N1.25 per share, reaffirming its commitment to delivering value to shareholders.