Wema Bank has reported N101.2 Billion PBT in H1 2025 and marked 231% growth.
NaijaOnPoint Nigeria reports that Wema Bank Plc, Nigeria’s oldest indigenous lender and the pioneer of Africa’s first fully digital bank, ALAT, has posted an impressive financial performance in its unaudited consolidated results for the half-year ended June 30, 2025.
According to the statement filed with the Nigerian Exchange Group (NGX), the bank recorded a Profit Before Tax (PBT) of ₦101.2 billion in H1 2025, a remarkable 231% surge from ₦30.55 billion reported in the same period in 2024.
Gross earnings climbed by 70% year-on-year, hitting ₦303.20 billion, up from ₦178.63 billion in H1 2024. Interest income also rose by 65% to ₦240.12 billion, while non-interest income jumped 91% to ₦63.08 billion.
Wema Bank’s balance sheet continued to show strength, with total assets increasing to ₦3.963 trillion from ₦3.585 trillion recorded in the same period last year. The bank’s deposit base grew by 3% to ₦2.60 trillion, while loans and advances expanded by 19% to ₦1.426 trillion.
The bank maintained a healthy asset quality, with a Non-Performing Loan (NPL) ratio of 3.17% as of June 2025.
Commenting on the results, Managing Director/CEO Moruf Oseni said the bank’s performance reflects its dedication to consistent growth and stakeholder value. He noted, “In just half a year, we’ve already achieved over 99% of our 2024 full-year PBT. This momentum reflects our continued push to redefine limits and set new standards.”
Oseni also highlighted the bank’s transformation over the years, pointing out that its PBT rose from ₦14.75 billion in 2022 to ₦43.59 billion in 2023, and to ₦102 billion in 2024.
He added, “Wema Bank is not just breaking new ground, we’re building the foundation for the future of banking in Nigeria. Our journey over the last 80 years has been about resilience, innovation, and inclusion.”
Other key performance indicators from the H1 2025 report include:
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60.40% growth in Return on Average Equity (ROAE),
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4.64% growth in Return on Average Assets (ROAA),
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13.68% improvement in Capital Adequacy Ratio (CAR),
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47.55% increase in Cost-to-Income Ratio.
With eight decades of banking experience, Wema Bank remains committed to driving financial inclusion, empowering communities, and delivering value to all stakeholders across Nigeria’s socio-economic landscape.