Wema Bank PLC (NGX: WEMABANK)

Wema Bank Balance Sheet

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash & Equivalents	213,579	220,234	96,295	109,727	97,525	65,974
Investment Securities	712,190	630,211	333,382	136,344	106,299	45,104
Trading Asset Securities	54,364	4.67	20,934	38,694	78,226	105,164
Total Investments	766,554	630,216	354,315	175,037	184,525	150,269
Gross Loans	1,033,709	825,607	539,372	435,552	375,040	301,368
Allowance for Loan Losses	-30,425	-24,503	-17,941	-16,688	-14,964	-12,128
Net Loans	1,003,284	801,103	521,431	418,864	360,076	289,240
Property, Plant & Equipment	50,203	37,018	26,447	23,270	22,139	21,148
Other Intangible Assets	2,922	2,989	2,860	2,171	1,392	974.07
Investments in Real Estate	-	-	-	-	38.39	39.33
Other Receivables	-	5,801	1,416	14,059	8,933	1,196
Restricted Cash	786,571	503,321	386,993	313,847	246,975	137,393
Other Current Assets	-	4,142	2,215	1,407	1,190	1,601
Long-Term Deferred Tax Assets	7,105	7,105	12,983	15,501	18,236	19,196
Other Long-Term Assets	262,490	36,312	36,909	101,608	38,489	28,840
Total Assets	3,092,707	2,248,240	1,441,865	1,175,490	979,518	715,870
Accounts Payable	12,294	4,535	552.35	1,088	442.95	640.36
Accrued Expenses	63.2	46.22	230.8	99.4	71.89	89.67
Interest Bearing Deposits	1,688,222	974,354	843,233	725,632	592,559	449,330
Non-Interest Bearing Deposits	837,501	907,083	341,854	242,539	212,314	131,592
Total Deposits	2,525,723	1,881,437	1,185,088	968,171	804,873	580,922
Current Portion of Long-Term Debt	-	15,348	23,824	28,453	109.04	59.74
Current Income Taxes Payable	7,897	1,797	1,062	716.12	394.51	905.36
Other Current Liabilities	60,807	43,232	52,362	21,615	15,615	11,584
Long-Term Debt	119,324	65,119	45,632	44,279	73,414	48,711
Long-Term Leases	48.53	45.95	31.58	26.88	22.88	72.58
Other Long-Term Liabilities	141,786	97,382	50,540	40,895	25,432	17,725
Total Liabilities	2,867,942	2,108,941	1,359,322	1,105,344	920,376	660,709
Common Stock	10,715	6,429	6,429	19,287	19,287	19,287
Additional Paid-In Capital	77,431	29,698	8,698	8,698	8,698	8,698
Retained Earnings	123,157	89,709	57,577	36,453	29,070	25,738
Comprehensive Income & Other	13,463	13,463	9,838	5,708	2,087	1,438
Shareholders' Equity	224,765	139,299	82,543	70,147	59,142	55,161
Total Liabilities & Equity	3,092,707	2,248,240	1,441,865	1,175,490	979,518	715,870
Total Debt	119,372	80,513	69,487	72,759	73,546	48,843
Net Cash (Debt)	148,570	139,779	47,794	75,715	102,257	122,349
Net Cash Growth	18.79%	192.46%	-36.88%	-25.96%	-16.42%	1350.40%
Net Cash Per Share	7.70	10.87	3.72	5.89	7.95	9.52
Filing Date Shares Outstanding	21,430	12,858	12,858	12,858	12,858	12,858
Total Common Shares Outstanding	21,430	12,858	12,858	12,858	12,858	12,858
Book Value Per Share	10.49	10.83	6.42	5.46	4.60	4.29
Tangible Book Value	221,843	136,310	79,683	67,976	57,750	54,187
Tangible Book Value Per Share	10.35	10.60	6.20	5.29	4.49	4.21

Source: S&P Capital IQ. Banks template. Financial Sources.