Wema Bank sees revenue bounce 124% to N193bn

Wema Bank Plc recorded a powerful monetary efficiency within the 2025 monetary yr, posting a revenue for the yr of N193.19bn, representing a 124 per cent improve from the N86.28bn recorded in 2024.

The financial institution’s audited monetary statements for the yr ended 31 December 2025 confirmed that the improved efficiency was pushed by development in curiosity revenue, larger mortgage creation, and growth in buyer deposits, regardless of rising working prices.

Curiosity revenue rose 62.7 per cent to N577.10bn in 2025, from N354.63bn within the earlier yr, reflecting development in interest-earning belongings and improved yields. Curiosity expense additionally elevated 22.2 per cent to N217.00bn, from N177.57bn in 2024.

Consequently, internet curiosity revenue grew 103.4 per cent to N360.10bn, in contrast with N177.06bn recorded within the prior yr. After impairment costs for credit score losses, internet curiosity revenue stood at N337.15bn, up 116.9 per cent from N155.41bn in 2024.

Impairment losses on monetary belongings elevated 6.0 per cent to N22.96bn, from N21.65bn within the earlier yr, reflecting a extra cautious threat stance amid prevailing macroeconomic circumstances.

Non-interest revenue was supported by larger transaction volumes, as internet payment and fee revenue rose 4.2 per cent to N57.92bn, in contrast with N55.58bn recorded in 2024. Nevertheless, internet buying and selling revenue declined to N8.39bn from N3.44bn, whereas different revenue fell 48.6 per cent to N8.88bn.

Working revenue rose sharply 76.5 per cent to N413.33bn, from N234.21bn within the prior yr. This was partly offset by rising bills, as personnel prices elevated 54.3 per cent to N70.18bn, whereas different working bills climbed 40.2 per cent to N108.59bn.

Revenue earlier than tax elevated 116.6 per cent to N222.07bn, in contrast with N102.52bn in 2024. After tax, revenue for the yr settled at N193.19bn.

On the stability sheet, complete belongings expanded 40.8 per cent to N5.06tn, from N3.59tn as at December 2024. Loans and advances to prospects grew 45.4 per cent to N1.75tn, in contrast with N1.20tn within the earlier yr, underscoring sturdy credit score growth.

Buyer deposits rose 30.1 per cent to N3.28tn, from N2.52tn in 2024, reflecting improved buyer confidence and balance-sheet development.

Whole fairness attributable to shareholders elevated 142.4 per cent to N621.70bn, from N256.42bn, supported by retained earnings and capital accretion.