Wema Bank Reports ₦101.2 Billion Profit Before Tax in H1 2025, Up 231%

Wema Bank Plc has announced a remarkable financial performance for the first half of 2025, posting a Profit Before Tax (PBT) of ₦101.2 billion — a 231% surge compared to ₦30.55 billion recorded in the same period of 2024.

In its unaudited consolidated financial statements submitted to the Nigerian Exchange Group (NGX), Nigeria’s oldest indigenous bank and pioneer of Africa’s first fully digital bank, ALAT, reported Gross Earnings of ₦303.20 billion, representing a 70% year-on-year rise from ₦178.63 billion in H1 2024.

Other highlights from the financials include:

• Interest Income: ₦240.12 billion, up 65% from ₦145.53 billion in H1 2024
• Non-Interest Income: ₦63.08 billion, a 91% increase from ₦33.10 billion in H1 2024
• Total Assets: ₦3.963 trillion, up from ₦3.585 trillion
• Customer Deposits: ₦2.60 trillion, rising 3% from ₦2.523 trillion
• Loans and Advances: ₦1.426 trillion, up 19% from ₦1.201 trillion
• NPL Ratio: Maintained at a healthy 3.17%, showing solid asset quality

Managing Director/CEO of Wema Bank, Moruf Oseni, credited the Bank’s consistent growth to strategic innovation, resilience, and stakeholder commitment.

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“For 80 years, Wema Bank has redefined impossible, consistently breaking new ground and raising the bar in delivering positive impact,” Oseni stated. “Three years ago, we took our Profit Before Tax from ₦14.75 billion in 2022 to ₦43.59 billion in 2023, and in 2024, our PBT stood at an impressive ₦102 billion. Now, just halfway through 2025, we have achieved over 99% of our 2024 full-year PBT in just H1, and for us, this is just a starting point.”

He added: “As a Bank, we have remained committed to surpassing expectations and redefining limitations and this is a standard we are prepared to uphold relentlessly. Wema Bank is the Bank that works for all and we will continue to pull all stops in delivering optimum value to every stakeholder, from our shareholders to customers, employees, partners, regulators, and every person and institution who has played a part in our 80-year journey and beyond.”

Additional performance indicators recorded in the H1 2025 results include a 60.40% rise in Return on Average Equity (ROAE), 4.64% in Return on Average Assets (ROAA), 13.68% growth in Capital Adequacy Ratio (CAR), and a 47.55% increase in Cost-to-Income Ratio, reflecting the bank’s strong fundamentals and operational efficiency.

With this result, Wema Bank continues to consolidate its legacy of innovation, customer-focused service delivery, and financial strength, reinforcing its place among Nigeria’s most resilient and forward-thinking financial institutions.