Wema Bank Plc has reported a profit after tax of N131.4 billion for the first half of 2026, representing a 50.1 percent increase from the N87.5 billion recorded during the same period in 2025.
According to the bank's unaudited financial results for the six months ended June 30, 2026, profit before tax rose by 53.7 percent to N154.56 billion, while gross earnings climbed 36.9 percent to N415.09 billion.
The strong financial performance was driven by a 42.7 percent increase in interest income, which grew to N342.64 billion from N240.12 billion a year earlier. The increase reflects improved returns from lending activities and investment assets.
Wema Bank also recorded growth across its balance sheet. Total assets expanded by 13.5 percent to N5.76 trillion, while loans and advances to customers increased by 21.7 percent to N2.12 trillion. Customer deposits also rose to N3.45 trillion, providing additional funding to support the bank's expanding lending operations.
The results highlight the bank's continued strong earnings momentum following its recapitalisation, with higher interest income and a growing loan portfolio contributing significantly to profitability.
Financial analyst Segun Adegun noted that although the bank's enlarged share capital may temporarily reduce earnings per share, its stronger capital base positions Wema Bank for sustained growth and future expansion.
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