Manny Ita
Wema Bank Plc has released its unaudited financial statements for the fiscal year ended December 31, 2025, revealing a pre-tax profit of ₦222.07 billion. This represents a 116.3% increase from the ₦102.52 billion recorded in the 2024 financial year. The bank’s profit after tax also saw a significant jump, rising 123.54% to reach ₦193.19 billion, up from ₦86.28 billion in the previous year. This performance was largely supported by a 51% growth in gross earnings, which climbed to ₦653.28 billion, driven primarily by robust revenue from interest income. Notably, the bank’s interest income rose by 63.08% to ₦577.10 billion, accounting for 88.3% of total gross earnings, with loans and advances to customers contributing ₦345 billion of that figure.
The financial report indicates that net interest income grew by 103.35% to ₦360.10 billion, a result attributed to an expansion in lending activities and a strategic approach to managing interest expenses. While interest expenses increased by 22.31% to ₦216.99 billion due to higher customer deposits, the proportion of these expenses relative to gross earnings dropped from 41% in 2024 to 33% in 2025, signaling improved cost efficiency. However, the bank did record a 6.1% rise in net impairment losses on financial instruments, which totaled ₦22.96 billion, reflecting a slight increase in provisions for non-performing loans as the bank expanded its credit portfolio.
On the balance sheet side, Wema Bank’s total assets grew by 41% to ₦5.06 trillion, with customer deposits providing approximately 64% of the funding base. Total equity surged by 143.6% to ₦621.70 billion, bolstered by substantial increases in share premium and retained earnings. The bank’s 2025 performance was marked by profit after tax surpassing its previous five-year cumulative total, a milestone that has translated into a positive trend for dividend payouts. The bank’s stock also emerged as a top performer in the sector, ending 2025 with a 124% year-to-date gain and closing at ₦20.40, a momentum that has continued into the current year with an additional 11% gain.
