… Records strong growth across key financial metrics
Wema Bank Plc, Nigeria’s oldest indigenous bank and pioneer of Africa’s first fully digital bank, ALAT, has released its unaudited consolidated financial statements for the half-year ended June 30, 2025, to the Nigerian Exchange Group (NGX), showcasing remarkable financial performance and continued growth momentum.
The Bank reported a Profit Before Tax (PBT) of ₦101.2 billion, representing a 231% increase compared to ₦30.55 billion recorded in H1 2024. This performance reflects Wema Bank’s strategic focus, operational excellence, and resilience amid evolving market conditions.
Highlights from the H1 2025 Unaudited Financial Results:
- Gross Earnings rose by 70% to ₦303.20 billion (H1 2024: ₦178.63 billion)
- Interest Income grew by 65% year-on-year to ₦240.12 billion (H1 2024: ₦145.53 billion)
- Non-Interest Income surged by 91% to ₦63.08 billion (H1 2024: ₦33.10 billion)
- Total Assets increased to ₦3.963 trillion from ₦3.585 trillion in H1 2024
- Deposits grew by 3% to ₦2.60 trillion (FY 2024: ₦2.523 trillion)
- Loans and Advances rose by 19% to ₦1.426 trillion (FY 2024: ₦1.201 trillion)
- Non-Performing Loan (NPL) Ratio stood at a healthy 3.17%, underscoring the bank’s continued focus on asset quality
These indicators affirm Wema Bank’s robust financial health, strategic discipline, and unwavering capacity to deliver sustainable value to stakeholders.
Speaking on the impressive results, Mr. Moruf Oseni, Managing Director/CEO of Wema Bank, reaffirmed the Bank’s strategic intent and commitment to sustained growth: “For 80 years, Wema Bank has redefined what’s possible, consistently setting new benchmarks in Nigeria’s banking sector. In 2022, we recorded a PBT of ₦14.75 billion. This rose to ₦43.59 billion in 2023, and by the end of 2024, we had delivered ₦102 billion. Now, just halfway through 2025, we have already achieved over 99% of our 2024 full-year PBT target. And for us, this is only the beginning.”
“Wema Bank is built on the values of innovation, inclusion, and excellence. We remain committed to delivering optimal value to every stakeholder—from our shareholders and customers to our employees, partners, regulators, and communities. Our journey over the last eight decades has been nothing short of extraordinary, and we’re just getting started.”
With a proud 80-year legacy, Wema Bank has continued to empower lives, break new ground, and set industry standards across verticals and demographics. These unaudited results not only validate the Bank’s growth strategy but also position it strongly for the future.
Additional Key Performance Indicators (H1 2025):
- Return on Average Equity (ROAE): Up by 60.40%
- Return on Average Assets (ROAA): Up by 4.64%
- Capital Adequacy Ratio (CAR): Up by 13.68%
- Cost-to-Income Ratio: Improved by 47.55%
Wema Bank remains committed to driving innovation, customer-centricity, and financial inclusion, while continuing to deliver sustainable growth and exceptional value.