Wema Bank Income Statement

Financials in millions NGN. Fiscal year is January - December.

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Interest Income on Loans	577,101	354,633	185,643	108,037	74,798
Interest Paid on Deposits	216,996	177,569	93,922	53,807	34,922
Net Interest Income	360,105	177,064	91,721	54,230	39,877
Net Interest Income Growth (YoY)	103.38%	93.05%	69.13%	35.99%	29.26%
Income From Trading Activities	8,386	3,441	822.49	4,002	1,556
Gain (Loss) on Sale of Assets	46.05	471.68	330.91	-5.29	167.03
Gain (Loss) on Sale of Investments	993.24	2,497	0.23	1,531	557.33
Other Non-Interest Income	66,755	72,392	40,118	19,488	16,554
Total Non-Interest Income	76,180	78,801	41,271	25,016	18,834
Non-Interest Income Growth (YoY)	-3.33%	90.93%	64.98%	32.82%	12.33%
Revenues Before Loan Losses	436,284	255,865	132,992	79,246	58,711
Provision for Loan Losses	22,959	21,650	10,563	4,762	2,104
Revenue	413,326	234,215	122,429	74,484	56,607
Revenue Growth (YoY)	76.47%	91.31%	64.37%	31.58%	34.84%
Salaries and Employee Benefits	70,185	45,475	26,755	21,333	16,677
Occupancy Expenses	12,480	8,740	6,122	4,546	3,399
Selling, General & Administrative	13,532	12,185	7,721	6,238	3,740
Other Non-Interest Expense	95,061	65,297	38,166	27,484	20,412
Total Non-Interest Expense	191,257	131,698	78,765	59,600	44,229
EBT Excluding Unusual Items	222,069	102,517	43,664	14,884	12,377
Pretax Income	222,069	102,517	43,664	14,884	12,377
Income Tax Expense	28,879	16,237	7,675	3,532	3,451
Net Income	193,189	86,280	35,989	11,352	8,927
Net Income to Common	193,189	86,280	35,989	11,352	8,927
Net Income Growth	123.91%	139.74%	217.03%	27.17%	95.01%
Basic Shares Outstanding	27,281	17,859	12,858	12,856	12,858
Diluted Shares Outstanding	27,281	17,859	12,858	12,856	12,858
Shares Change (YoY)	52.76%	38.89%	0.02%	-0.02%	-
EPS (Basic)	7.08	4.83	2.80	0.88	0.69
EPS (Diluted)	7.08	4.83	2.80	0.88	0.69
EPS Growth	46.58%	72.61%	216.98%	27.19%	95.01%
Dividend Per Share	-	1.000	0.500	0.300	0.240
Dividend Growth	-	100.00%	66.67%	25.00%	100.00%
Effective Tax Rate	13.00%	15.84%	17.58%	23.73%	27.88%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.