Wema Bank sustains strong profitability momentum with PBT growth of 116% to N221.85bn
Wema Bank Plc audited full year (FY) 2025 results show 116 percent growth in Profit Before Tax (PBT) to N221.85billion as against the N102.51billion recorded in FY 2024.
Wema Bank Plc audited full year (FY) 2025 results show 116 percent growth in Profit Before Tax (PBT) to N221.85billion as against the N102.51billion recorded in FY 2024.
Wema Bank has met regulatory requirements for Commercial Bank with National Authorisation. The bank will pay dividend per share of N1.25 for the year ended December 31, 2025. Wema Bank recorded strong revenue growth in FY 2025, with gross earnings increasing by 52.8 percent to N660.6 billion from N432.3 billion in FY 2024. This performance was largely driven by a 62.7 percent growth in interest income, reflecting improved yields on earning assets and growth in the loan book. Net interest income more than doubled, rising by 103.9 percent to N361 billion, supported by improved asset pricing and balance sheet expansion. Non-interest income also grew modestly by 8.3 percent to N85.3 billion, supported by transaction banking activities, digital banking revenues, and FX-related income. Overall, the strong growth across core revenue lines translated to a 79.6 percent increase in operating income, which rose to N420.6 billion.
Operating income growth reflects the bank’s improved revenue generation capacity and stronger contribution from core banking operations. The increase was primarily supported by growth in funded income as well as stable expansion in fee-based income streams. The significant improvement in operating income also supported profitability, with profit before tax rising by 116.4 percent to N221.9 billion, while profit after tax increased by 125.4 percent to N194.5 billion, demonstrating strong earnings conversion.
Operating expenses increased by 51 percent to N198.8 billion, compared to N131.7 billion in FY 2024, reflecting inflationary pressures, regulatory costs, and continued investments in technology and business expansion. Despite the increase in costs, the bank achieved positive operating leverage as revenue growth outpaced cost growth. This is further reflected in the improvement in the cost-to-income ratio, which declined to 47.3 percent from 56.2 percent, indicating improved efficiency and stronger cost management.
Net loans and advances increased by 44.7 percent to N1.74 trillion, up from N1.20 trillion in FY 2024. The growth reflects the bank’s continued support for key sectors of the economy while maintaining a disciplined risk management approach. Total assets also grew by 41.5 percent to N5.07 trillion, reflecting balance sheet expansion driven by loan growth and investment in high-yielding assets.
Customer deposits grew by 30.3 percent to N3.29 trillion from N2.52 trillion in FY 2024, demonstrating sustained customer confidence and the continued success of the bank’s retail and corporate deposit mobilization strategy. The growth in deposits provided stable funding for asset growth while supporting liquidity and balance sheet resilience.
Profitability ratios remained strong during the period. Return on Average Equity (ROAE) improved slightly to 44.4 percent, demonstrating the bank’s strong earnings capacity relative to shareholder funds. Return on Average Assets (ROAA) improved significantly to 4.5 percent from 2.96 percent, reflecting improved asset utilization and profitability. Asset quality metrics showed some pressure, with the NPL ratio increasing to 4.90 percent from 3.86 percent, indicating the impact of macroeconomic conditions on credit risk. However, this remains within manageable levels.
Commenting on the remarkable performance, Moruf Oseni, Managing Director/Chief Executive Officer, Wema Bank reiterated the Bank’s unwavering commitment to sustaining its impressive growth momentum and delivering superior value to all stakeholders.
He noted that “Wema Bank has delivered one of the strongest growth trajectories in its history. From a Profit Before Tax of N14.75 billion three years ago, we grew to N43.59 billion in 2023 and reached N102 billion in 2024. In 2025, we have taken an even bolder step forward, recording a Profit Before Tax of N221 billion. This performance reflects disciplined execution, a resilient business model, and the unwavering commitment of our people.”
Oseni explained that digital innovation remains a central driver of the Bank’s momentum, highlighting the launch of ALAT 2.0 as a major strategic leap. “With ALAT 2.0, we are redefining the digital banking experience through enhanced intelligence, deeper personalisation, and greater flexibility. It strengthens our position as a leading digital-first bank and expands our capacity to serve customers more intuitively and at scale. Complementing the bank’s strong earnings performance, he added that Wema Bank has successfully completed its capital raise, fully meeting the Central Bank of Nigeria’s recapitalisation requirements well ahead of the regulatory deadline, further positioning the Bank for sustained growth and long-term stability.
