Wema Bank Plc has reported a profit before tax of N221.85 billion for the 2025 financial year, representing a 116 per cent increase from N102.51 billion recorded in 2024. The bank’s performance, disclosed in a statement on Wednesday, reflects sustained profitability momentum driven largely by growth in core income streams, with profit after tax rising 125.36 per cent to N194.46 billion from N86.29 billion in the prior year.
The lender’s gross earnings grew by 52.79 per cent to N660.59 billion, up from N432.34 billion in 2024. Interest income increased by 62.72 per cent to N575.27 billion, while net interest income more than doubled, rising by 103.91 per cent to N361.01 billion. Non-interest income also recorded a modest increase of 8.27 per cent to N85.32 billion. Operating income rose by 79.62 per cent to N420.64 billion, while operating expenses increased at a slower pace of 50.96 per cent to N198.79 billion, demonstrating improved cost efficiency.
The bank’s balance sheet expanded considerably, with total assets growing by 41.48 per cent to N5.07 trillion from N3.59 trillion in 2024. Customer deposits rose by 30.34 per cent to N3.29 trillion, while net loans increased by 44.68 per cent to N1.74 trillion. Shareholders’ funds nearly doubled, rising by 141.95 per cent to N620.47 billion from N256.45 billion, reflecting the bank’s successful capital raise and retained earnings.
Key performance ratios showed notable improvement. Return on average equity increased to 44.35 per cent from 43.60 per cent, while return on average assets rose to 4.49 per cent from 2.96 per cent. The cost-to-income ratio improved significantly to 47.26 per cent from 56.23 per cent in the previous year, indicating better operational efficiency. Wema Bank also declared a dividend of N1.25 per share for the 2025 financial year and confirmed it has met the regulatory requirements for a commercial bank with national authorisation.
Managing Director Moruf Oseni described the performance as one of the strongest growth trajectories in the bank’s history, noting that profit before tax had grown from N14.75 billion three years ago to N221 billion in 2025. He attributed the results to disciplined execution, a resilient business model, and the commitment of the bank’s workforce. Digital innovation, particularly the launch of ALAT 2.0, remained a central driver of the bank’s momentum, enhancing intelligence, personalisation, and scalability of the digital banking platform. Oseni also confirmed that the bank had met the Central Bank of Nigeria’s recapitalisation requirements ahead of the regulatory deadline.
From an economic perspective, Wema Bank’s performance reflects broader trends in Nigeria’s banking sector, where elevated interest rates and improved asset quality have boosted profitability across the industry. The bank’s ability to grow net interest income while containing operating expense growth demonstrates effective margin management. However, the modest single-digit growth in non-interest income suggests that fee-based revenue streams remain a development area. The successful capital raise positions Wema Bank for sustained growth and long-term stability, enabling it to compete more effectively with larger Tier-1 banks.
