Wema Bank 2025 profit rose to N193bn, driven by strong interest income growth, higher loans and expanding customer deposits

Wema Bank Plc recorded a strong financial performance in the 2025 financial year, posting a profit of N193.19bn, representing a 124 per cent increase from N86.28bn in 2024.

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The bank disclosed this in its audited financial statements for the year ended 31 December 2025, citing higher interest income, robust loan growth and rising customer deposits despite increased operating costs.

Interest income rose by 62.7 per cent to N577.10bn in 2025, up from N354.63bn in the previous year, supported by growth in interest earning assets and improved yields.

Interest expense also increased by 22.2 per cent to N217.00bn, compared with N177.57bn recorded in 2024.

As a result, net interest income climbed by 103.4 per cent to N360.10bn from N177.06bn in the prior year.

After impairment charges, net interest income stood at N337.15bn, marking a 116.9 per cent increase from N155.41bn in 2024.

Impairment losses on financial assets rose slightly by 6.0 per cent to N22.96bn, reflecting a cautious risk posture amid challenging macroeconomic conditions.

Non interest income benefited from higher transaction volumes, as net fee and commission income increased by 4.2 per cent to N57.92bn.

However, net trading income declined to N8.39bn, while other income fell by 48.6 per cent to N8.88bn.

Operating income surged by 76.5 per cent to N413.33bn from N234.21bn in the previous year.

The growth was partly offset by higher costs, with personnel expenses rising by 54.3 per cent to N70.18bn and other operating expenses increasing by 40.2 per cent to N108.59bn.

Profit before tax rose sharply by 116.6 per cent to N222.07bn, compared with N102.52bn in 2024.

After tax, profit for the year settled at N193.19bn, reinforcing the bank’s strong earnings momentum.

On the balance sheet, total assets expanded by 40.8 per cent to N5.06tn from N3.59tn as at December 2024.

Loans and advances to customers grew by 45.4 per cent to N1.75tn, underscoring robust credit expansion.

Customer deposits increased by 30.1 per cent to N3.28tn, reflecting improved confidence and balance sheet strength.

Total equity attributable to shareholders rose by 142.4 per cent to N621.70bn, supported by retained earnings and capital accretion.

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The Wema Bank 2025 profit performance highlights a decisive year of growth, positioning the lender strongly amid Nigeria’s evolving banking landscape.