Wema Bank Achieves 116% Growth in Profit Before Tax, Surpasses ₦5 Trillion in Assets
Wema Bank, Nigeria’s oldest indigenous bank and pioneer of Africa’s first fully digital bank, ALAT, has released its FY 2025 audited financial results, demonstrating significant growth across key financial metrics.
Profitability and Asset Growth:
The bank’s Profit Before Tax (PBT) surged by 116.4%, rising from ₦102.5 billion in FY 2024 to ₦221.9 billion in FY 2025. Profit After Tax (PAT) also saw a 125.4% increase, from ₦86.2 billion to ₦194.5 billion. Total assets expanded by 41.5%, reaching ₦5.07 trillion compared to ₦3.59 trillion in FY 2024, marking a robust and resilient balance sheet.
Revenue and Income:
Gross earnings grew by 52.8%, from ₦432.3 billion to ₦660.6 billion. Interest income experienced a substantial growth of 62.7%, contributing to the overall increase in gross earnings. Net interest income more than doubled, rising by 103.9% to ₦361.0 billion, supported by improved asset yields and loan book expansion. Non-interest income also increased modestly by 8.3%, totaling ₦85.3 billion.
Loan and Deposit Growth:
Customer deposits grew by 30.3%, from ₦2.52 trillion in FY 2024 to ₦3.29 trillion, reflecting strong customer confidence and providing stable funding for asset growth. Net loans and advances increased by 44.7%, from ₦1.20 trillion to ₦1.74 trillion, underpinning Wema Bank’s support for key economic sectors while maintaining disciplined risk management.
Dividend and Capitalization:
The bank announced a dividend payout of ₦1.25 per share. As of September 2025, Wema Bank surpassed the ₦200 billion minimum recapitalization threshold required for Nigerian commercial banks with national authorization, further demonstrating its strengthened capital base.
Leadership Perspective:
Commenting on the results, Wema Bank’s Managing Director/CEO, Moruf Oseni, emphasized the bank’s growth trajectory: “From a Profit Before Tax of ₦14.75 billion three years ago, we grew to ₦43.59 billion in 2023 and reached ₦102 billion in 2024. In 2025, we have taken an even bolder step forward, recording a Profit Before Tax of ₦221 billion. Our Total Assets, which hit the ₦1tn mark in 2021, surpassed ₦3tn in 2024, standing at ₦5tn as of FY2025.”
He added, “Our FY2025 financial results confirm that Wema Bank is not just here to stay but poised to lead the future of banking in Africa. Our 80th anniversary in 2025, coupled with the launch of ‘ALAT: The Evolution,’ signifies our commitment to redefining digital banking with enhanced intelligence, personalization, and flexibility.”
Industry Impact:
Wema Bank’s consistent performance is a testament to its innovative capacity and resilience amid a rapidly evolving financial landscape. The bank’s strategic focus on digital transformation and customer-centric solutions continues to strengthen its position as Nigeria’s leading digital bank with a growing footprint across the continent.