WATCH THE VIDEO HERE Wema Bank Plc has published its financial results for the first quarter of 2025, reporting a pre-tax profit of N41.1 billion, fueled by an increase in interest income. This represents a 269.14% increase compared to the pre-tax profit of N11.1 billion from the same quarter in 2024. Interest income rose to N110.3 billion, showing a growth of 58.92% from N69.4 billion reported the previous year. The bank also noted an increase in interest expenses to N53.7 billion in Q1 2025, a rise of 24.04%. After accounting for impairment charges on credit losses, net interest income stood at N54.7 billion, reflecting a 119.14% rise in the first quarter. On the balance sheet, the bank’s total assets increased to N3.6 trillion from N3.5 trillion, while retained earnings rose to N139 billion, a growth of 34.67%. As of the trading day ended 29th April 2025, shares of Wema Bank were priced at N13.75, representing a year-to-date performance of 51.1%.
Wema Bank’s interest income hits N110.3 billion as loans proceeds, investments boom; reports profit in Q1 2025
