Wema Bank Plc has released its unaudited consolidated financial statements for the half-year period ended June 30 to the Nigerian Exchange Group (NGX), growing its profit after tax (PAT) by over 230 per cent.
On track to set an unprecedented benchmark, Wema Bank’s H1 2025 unaudited financial results reported remarkable financial upturns, including a profit before tax (PBT) of N101.2 billion, representing a 231 per cent increase compared to N30.55 billion recorded in the corresponding period of H1 2024.
The Bank’s gross earnings also rose to N303.2 billion, reflecting a 70 per cent increase from H1 2024’s N178.63 billion. Interest income grew by 65 per cent year-on-year to N240.12 billion (H1 2024: N145.53 billion), while Non-Interest Income surged by 91 per cent year-on-year to N63.08 billion (H1 2024: N33.1 billion).
Wema Bank’s balance sheet remained robust and well-structured, with total assets rising from N3.585 trillion in HI 2024 to N3.963 trillion in H1 2025; deposit base growing by three per cent from N2.523 trillion in FY 2024 to N2.6 trillion and loans and advances growing by 19 per cent to N1.426 trillion in H1 2025, compared to N1.2 trillion reported in FY 2024.
The bank’s non-performing loan (NPL) ratio stood at 3.17 per cent as at H1 2025, reflecting the bank’s continued focus on maintaining asset quality. These indicators not only reflect Wema Bank’s resilience and efficiency but also its strong capacity to sustain its growth momentum and continue to deliver optimum value to its stakeholders.
Wema Bank’s Managing Director/CEO, Moruf Oseni, affirmed the Bank’s commitment to maintaining the upward growth trajectory in its financials and delivering optimum value to every stakeholder of Wema Bank.
“For 80 years, Wema Bank has redefined impossible, consistently breaking new ground and raising the bar in delivering positive impact. Three years ago, we took our PBT from N14.75 billion in 2022 to N43.59 billion in 2023, and in 2024, our PBT stood at an impressive N102 billion. Now, just halfway through 2025, we have achieved over 99 per cent of our 2024 full-year PBT in just H1, and for us, this is just a starting point”.
“As a bank, we have remained committed to surpassing expectations and redefining limitations, and this is a standard we are prepared to uphold relentlessly. Wema Bank is the Bank that works for all, and we will continue to pull all stops in delivering optimum value to every stakeholder, from our shareholders to customers, employees, partners, regulators, and every person and institution that has played a part in our 80-year journey and beyond,” Oseni concluded.
