LAGOS – Wema Bank Plc has reported a 53.65% year-on-year increase in pre-tax profit for the first half of 2026, reaching N154.56 billion compared to N100.59 billion recorded in the corresponding period of 2025.
According to the commercial banks unaudited financial results filed with the Nigerian Exchange (NGX), profit after tax rose 50.11% to N131.37 billion, up from N87.51 billion in H1 2025.
The earnings growth was driven by strong top-line expansion, with gross earnings climbing 36.94% to N415.09 billion, while net interest income surged 51.3% to N195.45 billion.
Wema Banks balance sheet showed total assets expanding 13.5% to N5.76 trillion ($4.22 billion), while customer loans and advances rose 21.7% to N2.12 trillion ($1.55 billion) from December 2025 levels.
The robust performance follows the bank’s capital raise, which boosted its equity base to N700.45 billion and expanded total share count to 40.12 billion units to support balance sheet growth.
The growth builds on momentum from full-year 2025, where pre-tax profit grew 116% to N221.85 billion, reflecting sustained returns from risk asset creation amidst ongoing recapitalisation.
