Wema Bank Plc has delivered a strong set of audited results for the 2025 financial year, recording growth across key performance indicators as expansion in lending, improved asset yields, and rising digital banking revenues lifted earnings and profitability.
According to the bank’s financial statement, gross earnings rose by 52.8 per cent to N660.6 billion, compared to N432.3 billion in the 2024 financial year. The performance was largely driven by higher interest income and sustained growth in the bank’s loan portfolio, reflecting increased lending activity and improved returns on earning assets.
Interest income grew by 62.7 per cent during the period, supported by enhanced yields and balance sheet expansion, while net interest income more than doubled, rising by 103.9 per cent to N361.0 billion. The bank attributed this to improved asset pricing and stronger interest-earning capacity across its core banking operations.
Non-interest income also recorded positive growth, increasing by 8.3 per cent to N85.3 billion. This was driven by transaction banking, digital banking revenue streams, and foreign exchange-related income. Consequently, operating income rose significantly by 79.6 per cent to N420.6 billion.
The robust revenue performance translated into a substantial rise in profitability. Profit before tax climbed by 116.4 per cent to N221.9 billion, while profit after tax rose by 125.4 per cent to N194.5 billion, reflecting strong earnings conversion and improved operational efficiency.
Despite inflationary pressures and continued investment in technology and expansion initiatives, operating expenses increased by 51.0 per cent to N198.8 billion from N131.7 billion in 2024. The bank attributed the rise to elevated regulatory costs, inflation-driven expenses, and sustained investment in digital infrastructure and business growth.
However, Wema Bank maintained positive operating leverage as revenue growth significantly outpaced cost increases. This was reflected in a notable improvement in efficiency, with the cost-to-income ratio declining to 47.3 per cent from 56.2 per cent in the previous year.
On the balance sheet, net loans and advances increased by 44.7 per cent to N1.74 trillion from N1.20 trillion, highlighting the bank’s expanded support for key economic sectors while maintaining a disciplined risk management framework. Total assets also grew by 41.5 per cent to N5.07 trillion, driven by loan expansion and increased investment in high-yielding assets.
Customer deposits rose by 30.3 per cent to N3.29 trillion, compared to N2.52 trillion in 2024, reflecting sustained confidence from both retail and corporate customers and the continued success of the bank’s deposit mobilisation strategy.
Profitability metrics remained strong, with Return on Average Equity rising to 44.4 per cent, while Return on Average Assets improved to 4.5 per cent from 2.96 per cent, indicating enhanced asset utilisation and stronger value creation for shareholders.
However, asset quality showed some mild deterioration, as the non-performing loan ratio rose to 4.90 per cent from 3.86 per cent. The bank noted that the figure remained within manageable limits, given prevailing economic conditions.
Shareholders were also rewarded with a dividend declaration of N1.25 per share for the 2025 financial year.
Commenting on the results, Moruf Oseni, the managing director and chief executive officer, described the performance as one of the strongest growth trajectories in the bank’s history, noting the significant transformation in profitability over the last three years.
“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 said.
He added that digital innovation remains central to the bank’s strategy, highlighting the rollout of ALAT 2.0 as a key milestone in its transformation journey. According to him, the upgraded platform enhances personalisation, intelligence, and flexibility in customer experience, strengthening Wema Bank’s positioning as a digital-first financial institution.
“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,” he said.
Oseni further disclosed that the bank has successfully completed its capital raise programme, fully meeting the Central Bank of Nigeria’s recapitalisation requirements ahead of the regulatory deadline. He said this positions Wema Bank for sustained growth, stronger resilience, and long-term strategic expansion in a competitive banking environment.
