Wema Bank Grows PBT by 116% to  N221.85bn in 2025FY

Kayode Tokede  

Wema Bank Plc has recorded strong revenue growth in the 2025 financial year, with profit before tax crossing the N200billion mark to N221.85 billion, about 116per cent significant increase over N102.51 billion declared in 2024. 

From the profit & loss figures, Wema Bank posted N194.5billion  profit after tax in 2025, a growth off 125.4per cent when compared to N86.3 billion in 2024, demonstrating strong earnings conversion.

Amid significant increase in profit, the management of Wema Bank has proposed  a dividend per share of N1.25 for 2025 financial year.

The lender’s increase in profit is on the back drop of N660.6 billion gross earnings in 2025, representing an increase of 53 per cent from N432.3 billion in 2024. 

The growth in gross earnings was largely driven by a 62.7per cent growth in interest income, reflecting improved yields on earning assets and growth in the loan book. 

Net interest income more than doubled, rising by 103.9per cent to N361.0 billion, supported by improved asset pricing and balance sheet expansion. Non-interest income also grew modestly by 8.3per cent 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 79.6per cent 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. 

Wema Bank, thus declared N198.8 billion  operating expenses in 2025, about 51.0per cent increase compared to N131.7 billion in 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 47.3per cent from 56.2per cent, indicating improved efficiency and stronger cost management.

Net loans and advances increased by 44.7per cent 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 41.5per cent to N5.07 trillion, reflecting balance sheet expansion driven by loan growth and investment in high-yielding assets.

Customer deposits closed 2025 at N3.29 trillion, about 30.3per cent increase  from N2.52 trillion in 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 44.4per cent, demonstrating the bank’s strong earnings capacity relative to shareholder funds.

 Return on Average Assets (ROAA) improved significantly to 4.5per cent from 2.96per cent, reflecting improved asset utilization and profitability. Asset quality metrics showed some pressure, with the NPL ratio increasing to 4.90per cent from 3.86per cent, indicating the impact of macroeconomic conditions on credit risk. However, this remains within manageable levels.

Commenting on the remarkable performance, Wema Bank’s Managing Director/Chief Executive

Officer, Mr. Moruf Oseni, 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 N221billion. 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 personalization, 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 recapitalization requirements well ahead of the regulatory deadline, further positioning the Bank for sustained growth and long-term stability.

Wema Bank is a leading financial services entity with banking operations across Nigeria, it’s leadership position in the digital banking space speaks to its aspirations to liberate Nigerian businesses and entrepreneurs by making digital platforms widely