Prime Business Africa
Wema Bank closed the period between the first quarter (Q1) and third quarter (Q3) with N458.50 billion gross earnings, compared to the N289.11 billion reached in the same period in 2024.
According to the company’s consolidated and separate financial statements for the period ended September 30, 2025, Wema Bank’s gross earnings increased by 58.58 percent.
Join our WhatsApp ChannelAlso, interest income rose by 72.65 percent to N396.95 billion during the period under review, against the N229.91 billion recorded between Q1 and Q3 of last year.
Wema Bank also reported that it expended N161.33 billion on interest expense between January and September, compared to the N124.09 billion incurred in 2024, representing a 30.01 percent increase.
However, net impairment loss on financial assets decreased by 5.76 percent year-on-year, from N11.67 billion to N11 billion, leaving the company with N224.61 billion net interest income after impairment charge for credit losses, which rose by 138.59 percent from N94.14 billion.
According to the earnings report, Wema Bank also recorded N42.92 billion as net fee and commission income, against the N38.52 billion in 2024, representing an 11.42 percent year-on-year growth.
The company added that net trading income increased by 290.89 percent to N10.66 billion in the period under review, surpassing last year’s N2.72 billion.
Similarly, operating income grew to N286.16 billion between January and September 2025, up by 86.61 percent from the N153.34 billion reported in the corresponding period in 2024.
The financial statement also showed that Wema Bank closed the period under review with profit before tax of N146.44 billion, exceeding the N60.61 billion recorded in the first nine months of last year.
While Wema Bank’s pretax profit jumped 141.58 percent, income tax also increased by 141.55 percent year-on-year, from N7.88 billion to N19.03 billion.
The lender added that profit after tax was N127.40 billion between Q1 and Q3 of this year, compared to the N52.73 billion reported in the same period of 2024, reflecting a 141.59 percent growth.
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