Wema Bank Records N101billion In Profit Before Tax In H1 2025, ALAT Hits 70% Growth In Gross Earnings

Wema Bank Plc has released its unaudited consolidated financial statements for the half-year (H1) period ended June 30, 2025, to the Nigerian Exchange Limited (NGX).

The result was a financial upturn including a Profit Before Tax (PBT) of N101.2 billion, representing a 231per cent increase compared to N30.55 billion recorded in the corresponding period of H1 2024.

Also, the pioneer of Africa’s first fully digital bank, ALAT declared a Gross Earnings of N303.20 billion in H1 2025, reflecting a 70per cent increase from N178.63 billion declared in H1 2024.

The Interest Income of the bank closed H1 2025 at N240.12 billion, about 65per cent increase from N145.53 billion in H1 2024, while Non-Interest Income surged to N63.08 billion in H1 2025, up by 91 per cent frrrom N33.10 billion declared in H1 2024.

Wema Bank’s balance sheet remained robust and well-structured, with total assets rising from N3.585 trillion in HI 2024 to N3.963 trillion in H1 2025; deposit base growing by three per cent from N2.523 trillion in FY 2024 to N2.60trillion, and Loans and Advances growing by 19per cent to N1.426 trillion in H1 2025, compared to N1.201trillion reported in FY 2024.

The Bank’s Non-Performing Loan (NPL) ratio stood at 3.17per cent as at H1 2025, reflecting the Bank’s continued focus on maintaining asset quality.

Commenting on the outstanding results, Wema Bank’s Managing Director/CEO, Moruf Oseni, affirmed the Bank’s commitment to maintaining the upward growth trajectory in its financials and delivering optimum value to every stakeholder of Wema Bank.

According to him, “For 80 years, Wema Bank has redefined impossible, consistently breaking new ground and raising the bar in delivering positive impact. 3 years ago, we took our Profit Before Tax from N14.75 billion in 2022 to N43.59 billion in 2023, and in 2024, our PBT stood at an impressive N102 billion. Now, just halfway through 2025, we have achieved over 99per cent of our 2024 full-year PBT in just H1, and for us, this is just a starting point”.

“As a Bank, we have remained committed to surpassing expectations and redefining limitations and this is a standard we are prepared to uphold relentlessly. Wema Bank is the Bank that works for all and we will continue to pull all stops in delivering optimum value to every stakeholder, from our shareholders to customers, employees, partners, regulators, and every person and institution who has played a part in our 80-year journey and beyond,” Oseni concluded.

Other key profitability and efficiency metrics that further underscore the Bank’s performance, as recorded in the H1 2025 Unaudited Results, include a 60.40per cent growth in Return on Average Equity (ROAE), 4.64per cent growth in Return on Average Assets (ROAA), 13.68per cent growth in Capital Adequacy Ratio (CAR) and 47.55per cent growth in Cost-to-Income Ratio.

These indicators not only reflect Wema Bank’s resilience and efficiency, but also its strong capacity to sustain its growth momentum and continue to deliver optimum value to its stakeholders.