{
  "id": 17361026,
  "title": "Wema Bank’s 9M pre-tax profit jumps 76.62% to N258.64 billion on strong interest income",
  "url": "https://urgent.news/2026/10/31/wema-banks-9m-pre-tax-profit-jumps-76-62-to-n258-64-billion-on-strong",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-31T07:13:15.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/10/31/wema-banks-9m-pre-tax-profit-jumps-76-62-to-n258-64-billion-on-strong-interest-income/"
  },
  "original_language": "en",
  "account": "Wema Bank Plc reported a remarkable 76.62% increase in its pre-tax profit to N258.64 billion for the nine months ended September 30, 2026, compared to N146.43 billion in the same period of 2025. Gross earnings surged by 45.72% to N673.24 billion, supporting a 72.56% rise in profit after tax to N219.84 billion. However, earnings per share slipped slightly by 1.06% to 730.63 kobo from 738.48 kobo. Interest income drove the growth, with N543.56 billion in interest income, up 37.21% from N396.14 billion. Interest expenses rose by 35.60% to N217.68 billion, largely due to higher customer deposit costs. Despite this, net interest income climbed by 38.31% to N325.88 billion, as the surge in interest income outpaced the increase in expenses. Non-interest income also saw a significant jump, rising by 96.93% to N129.68 billion. This drove total operating income up by 52.72% to N437.02 billion. Total assets grew by 46.42% to N7.43 trillion, while total liabilities increased by 77.19% to N6.45 trillion. Shareholders' equity expanded by 27.34% to N790.13 billion. Despite the impressive financial performance, the company's shares fell by 0.32% to N31.00 following the release of the financial statements on October 29, 2026.",
  "summary": "Wema Bank Plc has released its unaudited financial results for the nine months ended September 30, 2026, reporting a pre-tax profit of N258.64 billion, representing a 76.62% increase from N146.43 billion in the corresponding period of 2025. The post Wema Bank’s 9M pre-tax profit jumps 76.62% to N258.64 billion on strong interest income appeared first on Nairametrics .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}