Wema Bank reported a profit after tax of ₦131.37 billion for the first half of 2026, representing a 50.12 per cent increase from the ₦87.51 billion posted in the corresponding period of 2025, driven by stronger lending income, digital banking revenue and treasury operations.
The lender’s unaudited half-year financial results also showed profit before tax climbed to ₦154.56 billion, up 53.65 per cent year-on-year, while gross earnings rose 36.9 per cent to ₦415.09 billion, reflecting sustained growth across its core business segments.
Interest income remained the bank’s largest revenue source, increasing to ₦342.64 billion during the period, while net interest income expanded to ₦195.45 billion. Brandspur Banking News Desk reports that treasury activities also delivered a significant boost, with net trading income rising sharply to ₦21.53 billion, strengthening the bank’s overall earnings performance.
Digital banking continued to play a major role in revenue generation, with electronic banking services contributing ₦7.14 billion through customer transactions on ALAT, card payments, USSD services, online purchases and bill payments. Overall fee and commission income reached ₦36.09 billion, supported by management fees, account maintenance charges, foreign exchange transaction fees and credit-related income.
The bank also recorded notable balance sheet expansion during the six-month period. Total assets increased to ₦5.76 trillion from ₦5.07 trillion at the end of December 2025, while loans and advances to customers grew to ₦2.12 trillion, reflecting continued lending growth across its customer base.
Customer deposits rose to ₦3.53 trillion, and shareholders’ funds increased to ₦721.6 billion, supported by retained earnings and the impact of the bank’s recapitalisation programme. The latest results reinforce Wema Bank’s growth trajectory as it continues to expand its digital banking ecosystem, strengthen lending capacity and increase its presence in Nigeria’s competitive banking sector.
