Wema Bank Sustains Profitability, On Track to Surpass Previous Record
Kayyode Tokede Wema Bank’s Plc for unaudited half year (H1) ended June 30, 2026 declared profit before tax of N154.5 billion, about 53.65 per cent increase from N100.6billion in half
Wema Bank has reported a 53.65% increase in profit before tax and a 157% increase in profit after tax for the first half of 2026 compared to the same period in 2025. This strong performance has placed the bank on track to surpass its previous profit record. The bank's earnings growth is being driven by its strong balance sheet development, higher interest income, improved credit performance, and better operating earnings.
Notably, the bank's interest income reached N342.64 billion in H1 2026, indicating a 43% increase compared to H1 2025. Additionally, net interest income improved by 51.26% to N195.45 billion in H1 2026, driven by growth in earning assets and improved asset yields.
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