By JKNewsMedia
RECORD GROWTH across key financial indicators marked the release of Wema Bank’s FY 2025 audited financial results, with profit before tax rising to N221.85bn and total assets reaching N5tn.
Head, Strategy and Investor Relations, Femi Akinfolarin, and Chief Finance Officer, Bunmi Oladosu, stated in a press release, that profit before tax doubled from N102.5bn in FY 2024 to N221.9bn, representing a 116.4% increase.
Profit after tax rose by 125.4% from N86.2bn to N194.5bn.
Total assets increased by 41.5% to N5.07tn from N3.59tn in FY 2024.
Gross earnings grew by 52.8% to N660.6bn from N432.3bn, driven by a 62.7% rise in interest income linked to improved yields on earning assets and expansion of the loan book.
Customer deposits rose by 30.3% to N3.29tn from N2.52tn, while net interest income climbed by 103.9% to ₦361.0bn. non-interest income increased by 8.3% to N85.3bn. Net loans and advances grew by 44.7% to N1.74tn from N1.20tn.
The bank also declared a dividend of N1.25 per share.
Managing Director and Chief Executive Officer, Moruf Oseni, said, “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. Our Total Assets, which hit the N1tn mark in 2021, surpassed N3tn in 2024, standing at a staggering N5tn as of FY2025.”
He added, “This overall performance not only speaks strongly of Wema Bank’s exceptional financial strength and capacity for sustained growth, but also reflects disciplined execution, a resilient business model, and the unwavering commitment of our people.”
Oseni stated that the bank surpassed the N200bn recapitalisation minimum threshold for commercial banks with national authorisation as of September 2025.
“Our FY2025 Financial Results only corroborate what has become abundantly clear, Wema Bank is here not just to stay, but to lead the future of banking in Africa.
“Our 80th anniversary celebration in 2025 marked a fitting commemoration of our 80 years of impact in the finance industry and beyond.
“With the launch of ALAT The Evolution, the upgraded version of our pioneering fully digital bank, ALAT, we not just redefining the digital banking experience with enhanced intelligence, personalisation and flexibility we ushering Africa into a future filled with profound possibilities,” he said.
He said the bank operates across Nigeria and internationally through its digital platform ALAT and has maintained growth over the past five years while surpassing the recapitalisation benchmark set by the Central Bank of Nigeria (CBN).
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