Chai! Na better news dis one wey Wema Bank just drop for my people.
For 2025, dem record beta profit of N193.19bn, na im be say dem don increase their profit by 124 per cent from last year wey dem collect N86.28bn. No be small matter!
The gist na say, this big profit no just fall from sky. E come through plenty factors wey dem dey work on, like loan creation and customer deposits wey don increase as customers dey bring their money come the bank. Even though operating costs dey rise, Wema Bank still steady shine.
Make I yarn the numbers small-small: Interest income don jump reach N577.10bn; dat na 62.7 per cent increase from N354.63bn wey be last year. Na the interest-earning assets don improve wey make dem dee gather beta returns.
But you know say as dem dey make money, expenses dey waka go up too. Interest expense don climb 22.2 per cent to N217.00bn from N177.57bn in 2024. E fit be say dem dey spend well but na good thing because net interest income self don up reach N360.10bn; dat na 103.4 per cent increase from last year too.
Even after dem deduct all the impairment charges for credit losses, net interest income still dey shine at N337.15bn, up by 116.9 per cent compared to last year’s N155.41bn. Na wah!
But we no fit forget say the caution way dem bring come no mean say all dem transactions dey smooth. Impairment losses on financial assets don increase small-small to N22.96bn, from N21.65bn. Na so dem dey face the risk wey dey waka for market.
Non-interest income join the party as e rise 4.2 per cent to N57.92bn from last year wey be N55.58bn. But net trading income come drop from N3.44bn to N8.39bn. Other income too drop waka reach N8.88bn, dat’s about 48.6 per cent fall. E be like say dem need balance for there.
As for operating income, e don jack up sharply 76.5 per cent to N413.33bn from last year wey be N234.21bn. But expenses no wan gree rest, personnel cost don rise 54.3 per cent to N70.18bn while operating expenses don climb 40.2 per cent to N108.59bn. Chai!
This financial performance hin get plenty gist wey dey sweet for body. Profit before tax don increase 116.6 per cent to N222.07bn from N102.52bn last year. Na after dem pay tax, dem profit settle at N193.19bn. Na beta return!
For their balance sheet, total assets don grow reach N5.06tn, from N3.59tn last year, which na 40.8 per cent increase. Loans and advances to customers too don dey waka, as e don grow by 45.4 per cent to N1.75tn from N1.20tn. Customer deposits sef no wan miss the wahala, e don increase 30.1 per cent to N3.28tn from N2.52tn. Dis one dey show say customers dey enjoy their service!
Total equity wey go shareholders don increase reach N621.70bn; dat na 142.4 per cent jump from N256.42bn. Na beta move wey dey encourage more people to invest.
So my people, as you fit see, Wema Bank dey do them well, and as dem dey blow our mind like dis, make we dey watch how dem go continue for 2026. Dis na the kind news wey dey sweet for body!
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