Wema Bank Reports 231% Surge in Profit Before Tax to N101.2 Billion in H1 2025
Wema Bank Plc, Nigeria’s most enduring indigenous financial institution and pioneer of Africa’s first fully digital banking platform, ALAT, has released its unaudited consolidated financial results for the half-year ending June 30, 2025. The figures, submitted to the Nigerian Exchange Group (NGX), highlight an extraordinary period of growth and resilience.
The bank’s Profit Before Tax (PBT) soared by 231%, reaching N101.2 billion compared to N30.55 billion recorded in the same period last year. Gross earnings also experienced a significant increase, rising by 70% to N303.20 billion from N178.63 billion in H1 2024. Interest income grew by 65% to N240.12 billion, while non-interest income more than doubled, increasing by 91% to N63.08 billion.
Wema Bank’s balance sheet remained strong, with total assets growing to N3.963 trillion from N3.585 trillion at the end of H1 2024. Deposit mobilization saw a modest 3% increase to N2.60 trillion, while loans and advances expanded by 19% to N1.426 trillion. The non-performing loan (NPL) ratio stood at 3.17%, underscoring the bank’s commitment to maintaining asset quality.
Commenting on these impressive results, Wema Bank’s Managing Director/CEO, Moruf Oseni, expressed confidence in the bank’s continued growth trajectory. “Over the past three years, we have significantly increased our profit before tax—from N14.75 billion in 2022 to N43.59 billion in 2023, and reaching N102 billion in 2024. Achieving over 99% of our 2024 full-year PBT in just H1 2025 is a testament to our relentless drive for excellence,” he stated.
Oseni emphasized Wema Bank’s dedication to surpassing expectations and delivering value to all stakeholders. “We remain committed to redefining possibilities, and our 80-year legacy of empowering lives and setting industry standards continues to propel us forward,” he added.
Other key indicators further highlight the bank’s solid performance: Return on Average Equity (ROAE) increased by 60.40%, Return on Average Assets (ROAA) grew by 4.64%, Capital Adequacy Ratio (CAR) rose by 13.68%, and the Cost-to-Income Ratio improved by 47.55%. These metrics underscore Wema Bank’s operational efficiency and strategic resilience as it prepares for sustained future growth.