Wema {Bank}’s reviews pre-tax revenue of N41.1 billion as larger curiosity earnings propels progress
Wema {Bank} Plc has printed its {financial} outcomes for the primary quarter of 2025, reporting a pre-tax revenue of N41.1 billion, fueled by a rise in curiosity earnings.
This represents a 269.14% enhance in comparison with the pre-tax revenue of N11.1 billion from the identical quarter in 2024.
Curiosity earnings rose to N110.3 billion, exhibiting a progress of 58.92% from N69.4 billion reported the earlier 12 months.
- Of this complete, curiosity from loans and advances to banks and clients accounted for N64.3 billion, whereas curiosity from investments was N45.3 billion.
The {bank} additionally famous a rise in curiosity bills to N53.7 billion in Q1 2025, an increase of 24.04%.
- Regardless of this, web curiosity earnings elevated by 116.83%, reaching N56.5 billion.
After accounting for impairment fees on credit score losses, web curiosity earnings stood at N54.7 billion, reflecting a 119.14% rise within the first quarter.
- Moreover, web payment and fee earnings greater than doubled to N25 billion, up from N10.8 billion in Q1 2024.
- Working revenue elevated by 128.1%, reaching N84.07 billion in comparison with N36.8 billion the earlier 12 months.
On the stability sheet, the {bank}’s complete belongings elevated to N3.6 trillion from N3.5 trillion, whereas retained earnings rose to N139 billion, a progress of 34.67%.
Key Highlights:
Curiosity earnings: N110.3 billion, +58.92% YoY
- Curiosity bills: N53.7 billion, +24.04% YoY
- Web curiosity earnings: N56.5 billion, +116.83% YoY
- Web curiosity earnings after impairment fees: N54.7 billion, +119.14% YoY
- Web payment and fee earnings: N25 billion, +130.84% YoY
- Working earnings: N84 billion, +128.17% YoY
- Pre-tax revenue: N41.1, +269.14% YoY
- Whole belongings: N3.6 trillion, +0.36% YoY
Retained earnings: N139 billion, +34.67% YoY
As of the buying and selling day ended twenty ninth April 2025, shares of Wema {Bank} had been priced at N13.75, representing a year-to-date efficiency of 51.1%.
