Wema Bank posts record ₦221.9bn profit, assets cross ₦5tn mark

By Kazeem Ugbodaga

Wema Bank has reported a strong financial performance for the 2025 financial year, with profit before tax rising sharply to ₦221.9 billion, underscoring sustained growth across its core business segments.

The bank’s audited results released on Wednesday showed a 116.4 per cent increase in profit before tax from ₦102.5 billion recorded in 2024, while profit after tax climbed by 125.4 per cent to ₦194.5 billion.

The performance also pushed the bank’s total assets above the ₦5 trillion threshold for the first time, reaching ₦5.07 trillion, representing a 41.5 per cent increase from ₦3.59 trillion in the previous year.

Gross earnings grew by 52.8 per cent to ₦660.6 billion, driven largely by a 62.7 per cent surge in interest income, reflecting improved asset yields and expansion in the bank’s loan portfolio.

Customer deposits rose by 30.3 per cent to ₦3.29 trillion, indicating sustained customer confidence and providing stable funding to support asset growth and liquidity.

Net interest income more than doubled, increasing by 103.9 per cent to ₦361 billion, while non-interest income recorded a modest rise of 8.3 per cent to ₦85.3 billion.

The bank’s loan book also expanded significantly, with net loans and advances growing by 44.7 per cent to ₦1.74 trillion, highlighting its continued support for key sectors of the economy under a disciplined risk management framework.

In line with its strong earnings performance, Wema Bank announced a proposed dividend of ₦1.25 per share.

Commenting on the results, Managing Director and Chief Executive Officer, Moruf Oseni, said the bank had delivered one of the most robust growth trajectories in its history.

He noted that profit before tax had risen from ₦14.75 billion three years ago to over ₦221 billion in 2025, reflecting consistent expansion and effective execution of its strategy.

Oseni added that the bank had also surpassed the ₦200 billion recapitalisation threshold set by the Central Bank of Nigeria, reinforcing its financial strength and long-term stability.

He attributed the performance to a resilient business model, disciplined execution and the commitment of the bank’s workforce.

The CEO further highlighted the bank’s continued focus on digital innovation through its flagship platform, ALAT, Africa’s first fully digital bank, noting that the upgraded version, “ALAT: The Evolution,” is designed to enhance personalisation and flexibility for customers.

Wema Bank, which marked its 80th anniversary in 2025, said it remains positioned to drive the future of banking in Africa, leveraging innovation and strong financial fundamentals to meet evolving customer needs.

Market analysts say the results reinforce the bank’s growing influence in Nigeria’s financial sector, with its expanding balance sheet and digital banking strategy expected to sustain momentum in the coming years.