By Ayomide Otitoju
Wema Bank Plc has reported a 231% year-on-year rise in profit before tax (PBT) to ₦101.2 billion in its unaudited financial results for the half-year ended June 30, 2025, up from ₦30.55 billion in H1 2024. The results, filed with the Nigerian Exchange Group (NGX), mark a significant milestone for Nigeria’s oldest indigenous bank and pioneer of Africa’s first fully digital bank, ALAT.
Gross earnings rose 70% to ₦303.20 billion from ₦178.63 billion in the same period last year, driven by a 65% increase in interest income to ₦240.12 billion and a 91% surge in non-interest income to ₦63.08 billion.
Wema Bank’s total assets expanded to ₦3.96 trillion from ₦3.59 trillion in H1 2024, while customer deposits increased by 3% to ₦2.60 trillion. Loans and advances grew by 19% to ₦1.43 trillion. The bank maintained strong asset quality, with a non-performing loan (NPL) ratio of 3.17%.
Commenting on the performance, Managing Director and CEO Moruf Oseni said the bank’s growth trajectory reflects its long-standing resilience and commitment to stakeholder value. “We achieved over 99% of our full-year 2024 PBT in just six months of 2025. This is a testament to our relentless focus on redefining boundaries,” he stated.
Now in its 80th year, Wema Bank continues to consolidate its legacy of innovation, financial inclusion, and economic impact. The bank also recorded a 60.40% rise in Return on Average Equity (ROAE), 4.64% in Return on Average Assets (ROAA), 13.68% growth in Capital Adequacy Ratio (CAR), and a 47.55% increase in Cost-to-Income Ratio.
