Wema Bank Plc has achieved 116 per cent growth in profit before tax (PBT) for the 2025 financial year to N221.85 billion from N102.51 billion posted in corresponding period in 2024.

In its 2025 financial year, the bank also achieved gross earnings of N660.6 billion, representing 52.8 per cent increase when compared to N432.3 billion posted in 2024.

According to the bank, the performance was largely driven by a 62.7 per cent growth in interest income, reflecting improved yields on earning assets and growth in the loan book.

Its net interest income also rose by 103.9 per cent to N361 billion, supported by improved asset pricing and balance sheet expansion while non-interest income grew by 8.3 per cent to N85.3 billion, supported by transaction banking activities, digital banking revenues and FX-related income.

The bank said the strong growth across core revenue lines translated to 79.6 per cent increase in operating income, which rose to N420.6 billion, adding that operating income growth reflects the bank’s improved revenue generation capacity and stronger contribution from core banking operations.

In addition, the increase was primarily supported by growth in funded income as well as stable expansion in fee-based income streams.

“The significant improvement in operating income also supported profitability, with profit before tax rising by 116.4 per cent t to N221.9 billion, while profit after tax increased by 125.4 per cent to N194.5 billion, demonstrating strong earnings conversion.

“Operating expenses increased by 51 per cent to N198.8 billion, compared to 131.7 billion in 2024, reflecting inflationary pressures, regulatory costs, and continued investments in technology and business expansion.”

“Despite the increase in costs, the bank achieved positive operating leverage as revenue growth outpaced cost growth. This is further reflected in the improvement in the cost-to-income ratio, which declined to 47.3 per cent from 56.2 per cent, indicating improved efficiency and stronger cost management.”

Based on the improved performance, the directors of the bank recommended a dividend of N1.25 kobo due to every investor of the bank for the 2025 financial year.