Wema Bank Announces 124% Profit Jump, More Customers Deposit
- Wema Bank Plc has released impressive financial results for 2025, as gross earnings hit N653.3 billion
- The financial institution also disclosed that its profit after tax rose by 124% to N193.2 billion from N86.3 billion in 2024
- Wema Bank plans to continue growing its capital base through strategic funding initiatives
Legit.ng journalist Dave Ibemere has extensive experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Wema Bank Plc has reported an impressive financial performance for the year ending December 31, 2025.
In its unaudited financial statements released on NGX, the bank’s gross earnings surged to N653.3 billion, while profit before tax more than doubled to N222.1 billion from N102.5 billion in 2024.
Source: UGC
The growth was attributed to higher yields on loans and investment securities, as well as the bank’s active balance sheet positioning throughout the year.
Key highlights from Wema Bank’s financial report
Here is a breakdown of Wema Bank’s financial performance:
Loan and Investment Income
High interest rates supported Wema Bank’s loan growth, with gross loans and advances rising 45% to N1.75 trillion from N1.20 trillion in 2024. Interest income jumped to N577.1 billion.
Investment securities also grew to N1.34 trillion from N900.2 billion, strengthening the bank’s asset base.
Non-interest income remained steady, with net fees and commissions up slightly to N57.9 billion, driven by electronic banking, account maintenance, and management fees.
Other income fell to N8.9 billion from N17.3 billion, while net trading income rose to N8.4 billion from N3.4 billion. Overall operating income nearly doubled to N413.3 billion, BusinessDay reports.
Source: Getty Images
Expenses and profitability
Operating expenses increased with business expansion and inflation, with personnel costs at N70.2 billion and other expenses at N108.6 billion.
Despite higher costs, profit before tax more than doubled to N222.1 billion, supported by strong revenue growth.
Assets, deposits, and liquidity
Total assets grew 41% to N5.06 trillion, led by cash balances of N934.8 billion and investment securities of N1.34 trillion. Customer deposits rose 30% to N3.28 trillion, while shareholders’ equity more than doubled to N621.7 billion. Net cash from operating activities soared to N982.9 billion, boosting liquidity and supporting asset expansion.
Performance Metrics
The strong earnings improved returns, with ROE at 31% and earnings per share rising to 708 kobo from 483 kobo.
Nigeria's most valuable company announces double profit
Earlier, Legit.ng reported that BUA Foods Plc, Nigeria’s most valuable listed company has posted a record net profit in 2025, driven by strong sales growth.
According to its unaudited financial results filed on the Nigerian Exchange on Thursday, January 28, the food producer reported a net profit of N507.7 billion, nearly double the N266.0 billion earned a year earlier.
Revenue rose 18.1% to N1.80 trillion, driven by higher volumes and pricing across sugar, flour, pasta, and rice.
The reduction in currency-related charges turned strong operating performance into record earnings.
Source: Legit.ng
