Wema Bank Plc lifted nine-month profit after tax by 72.6% to 219.84 billion naira, as stronger lending and trading income outweighed higher funding and impairment costs in its unaudited 2026 results.
The statement filed with the Nigerian Exchange compares the nine months ended Sept. 30, 2026, with the same period in 2025. After-tax profit was 219.84 billion naira, against 127.40 billion naira a year earlier. Earnings per share moved lower, to 730.63 kobo from 738.48 kobo.
Interest income totaled 543.56 billion naira, up 37.2% from 396.14 billion naira. Interest from loans and advances to banks and customers reached 326.01 billion naira, compared with 244.44 billion naira. Income from cash and cash equivalents was 91.28 billion naira, up from 8.04 billion naira, while interest from investment securities fell to 126.27 billion naira from 143.67 billion naira.
Net trading income climbed to 46.08 billion naira from 10.66 billion naira. Treasury bill trading accounted for 40.47 billion naira, compared with 8.29 billion naira in the prior-year period. Net interest income increased 38.3% to 325.88 billion naira from 235.61 billion naira.
The bank’s costs also rose. Interest expenses were 217.68 billion naira, up from 160.53 billion naira, while net impairment losses on financial assets increased to 18.54 billion naira from 15.30 billion naira. Profit before tax reached 258.64 billion naira, compared with 146.43 billion naira.
Total assets stood at 7.43 trillion naira on Sept. 30, 2026, versus 5.07 trillion naira on Dec. 31, 2025. Customer loans rose to 2.51 trillion naira from 1.74 trillion naira, and deposits increased to 3.86 trillion naira from 3.29 trillion naira. These balance-sheet comparisons use year-end 2025 figures, while the income figures compare the first nine months of each year.
Dividend payments to shareholders totaled 50.15 billion naira over the nine-month period. Wema Bank’s directors authorized the filing on Oct. 29, 2026.
