Wema Bank Plc increased its profit after tax 50.1 per cent to N131.4bn in the first half of 2026, driven by robust growth in interest income and loan expansion despite a larger share base following its recapitalisation.
The lender’s unaudited financial results for the six months ended 30 June 2026, showed profit after tax rose from N87.50bn in the corresponding period of 2025. Profit before tax climbed 53.7 per cent to N154.56bn from N100.60bn, while gross earnings grew 36.9 per cent to N415.09bn.
The strong earnings performance was underpinned by a 42.7 per cent increase in interest income to N342.64bn from N240.12bn, reflecting higher returns from lending activities and investment assets.
Wema Bank also strengthened its balance sheet during the period. Total assets rose 13.5 per cent to N5.76tn as of 30 June 2026, from N5.07tn at the end of December 2025.
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