By Seun Ibiyemi
Wema Bank Plc has reported a profit before tax of N221.85 billion for the 2025 financial year, representing a 116 per cent increase compared with N102.51 billion recorded in 2024.
The bank disclosed this in a statement issued on Wednesday in Lagos, attributing the strong performance to sustained growth in its core income streams.
Profit after tax rose by 125.36 per cent to N194.46 billion from N86.29 billion in the previous year, underscoring improved profitability across its operations.
Wema Bank’s total assets expanded significantly by 41.48 per cent to N5.07 trillion in 2025, up from N3.59 trillion recorded in 2024. Gross earnings also climbed by 52.79 per cent to N660.59 billion, compared to N432.34 billion in the prior year.
The lender recorded strong growth in interest income, which rose by 62.72 per cent to N575.27 billion from N353.54 billion. Net interest income more than doubled, increasing by 103.91 per cent to N361.01 billion.
Non-interest income also improved, rising by 8.27 per cent to N85.32 billion from N78.80 billion, while operating income surged by 79.62 per cent to N420.64 billion from N234.19 billion in 2024.
Operating expenses increased by 50.96 per cent to N198.79 billion, reflecting expansion in business activities.
However, the bank improved its cost efficiency, with its cost-to-income ratio declining to 47.26 per cent from 56.23 per cent in the previous year.
Customer deposits grew by 30.34 per cent to N3.29 trillion, while net loans rose by 44.68 per cent to N1.74 trillion. Shareholders’ funds recorded a significant jump of 141.95 per cent to N620.47 billion from N256.45 billion in 2024.
Key performance indicators also strengthened, with return on average equity rising to 44.35 per cent from 43.60 per cent, and return on average assets increasing to 4.49 per cent from 2.96 per cent.
The bank stated that it had met the regulatory requirements for a commercial bank with national authorisation and declared a dividend of N1.25 per share for the 2025 financial year.
Commenting on the results, Managing Director of Wema Bank, Moruf Oseni, described the performance as one of the strongest in the bank’s history.
He noted that profit before tax had grown steadily from N14.75 billion three years ago to N43.59 billion in 2023, N102 billion in 2024, and N221 billion in 2025.
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According to him, the growth reflects disciplined execution, a resilient business model, and the commitment of the bank’s workforce.
Oseni highlighted digital innovation as a key driver of the bank’s performance, pointing to the launch of ALAT 2.0 as a major milestone.
He said the upgraded platform enhances customer experience through improved intelligence, deeper personalisation, and greater flexibility, strengthening the bank’s position as a leading digital-first institution.
The managing director added that the bank had successfully completed its capital raise, meeting the recapitalisation requirements set by the Central Bank of Nigeria ahead of the regulatory deadline, positioning it for sustained growth and long-term stability.
