Prime Business Africa
Wema Bank recorded N653,28 billion gross earnings in 2025, according to the company’s consolidated and separate financial statements for the period ended December 31, 2025, surpassing the N433.43 billion generated in 2024.
The gross earnings rose by 31 percent following a 62.73 percent increase in Wema Bank’s interest income, which was almost triple the company’s interest expense growth of 22.20 percet during the period under review.
Join our WhatsApp ChannelIn the financial statement, Wema Bank earned N577.10 billion as interest income in 2025, compared to the N354.63 billion reported the previous year, while interest expense gulped N216.99 billion last year, exceeding the N177.56 billion paid out to customers in 2024.
With interest income overshadowing interest expense, the lender’s net interest income increased by 103.37 percent year-on-year, from N177.06 billion to N360.10 billion.
However, it recorded N22,95 billion as net impairment loss on financial assets in 2025, compared to the N21.64 billion suffered in 2024, indicating a 6.04 percent increase, with net interest income after impairment charge for credit losses rising by 116.93 percent, from N155.41 billion to N337.14 billion.
In addition, Wema Bank recorded a 60.22 percent decline in net loss on FVTPL investment securities, which dropped from N2.49 billion in 2024 to N993.24 million last year.
The company also saw a marginal growth in net fee and commission income, as it increased by 4.21 percent year-on-year to N57.91 billion, from N55.57 billion, while net trading income skyrocketed by 143.73 percent to N8.38 billion, from N3.44 billion.
However, other income declined to N8.88 billion in 2025, compared to the N17.28 billion generated in the year before, indicating a 48.61 percent drop.
Regardless, the company grew its operating income by twofold or 76.47 percent, as it increased from N234.21 billion in 2024 to N413.32 billion in 2025.
During the period under review, Wema Bank recorded N222.06 billion as profit before tax (PBT), compared to the N102.51 billion earned in 2024, representing a 116.61 percent growth.
This dropped further after the deduction of N28,87 billion income tax, which jumped by 77.85 percent to surpass the N16.23 billion paid as tax in 2024.
Consequently, Wema Bank reported a N193,18 billion net income in 2025, exceeding the N86.27 billion profit after tax (PAT) recorded in 2024, indicating a 123.91 percent growth.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
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