Wema Bank Cash Flow 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
Net Income	193,189	86,280	35,989	11,352	8,927
Depreciation & Amortization	12,480	8,740	6,122	4,546	3,399
Gain (Loss) on Sale of Assets	-46.05	-471.68	-330.91	5.29	-167.03
Gain (Loss) on Sale of Investments	1,487	4,311	1,772	380.4	-78.84
Total Asset Writedown	-	2,757	83	173.04	-
Provision for Credit Losses	20,958	14,453	7,435	4,862	2,093
Change in Other Net Operating Assets	212,660	-739,237	-406,182	-64,442	-174,316
Other Operating Activities	41,304	34,227	16,035	6,946	8,373
Operating Cash Flow	481,817	-589,186	-339,287	-36,378	-151,939
Capital Expenditures	-41,547	-19,633	-15,437	-6,616	-3,783
Sale of Property, Plant and Equipment	307.32	941.51	887.13	113.55	337.98
Investment in Securities	-437,547	-270,503	-271,715	-174,701	13,339
Income (Loss) Equity Investments	-215.58	-245.68	-210.26	-200.63	-168.87
Purchase / Sale of Intangibles	-1,073	-2,290	-1,216	-1,506	-1,172
Other Investing Activities	-240.76	-73.69	-319.7	-230.93	-317.83
Investing Cash Flow	-480,666	-292,219	-287,996	-182,941	8,404
Long-Term Debt Issued	26,515	68,742	50,420	14,784	3,261
Long-Term Debt Repaid	-23,471	-39,341	-4,543	-18,387	-4,208
Net Debt Issued (Repaid)	3,045	29,401	45,877	-3,603	-946.01
Issuance of Common Stock	193,515	39,160	21,000	-	-
Common Dividends Paid	-21,430	-6,429	-3,857	-3,086	-1,543
Net Increase (Decrease) in Deposit Accounts	501,099	900,878	696,350	216,916	163,298
Other Financing Activities	-21,486	-22,915	-8,148	-4,340	-5,071
Financing Cash Flow	654,742	940,096	751,221	205,887	155,737
Foreign Exchange Rate Adjustments	-2,143	2,401	1,909	85.28	-162.86
Net Cash Flow	653,750	61,092	125,848	-13,346	12,039
Free Cash Flow	440,269	-608,819	-354,724	-42,995	-155,723
Free Cash Flow Margin	106.52%	-259.94%	-289.74%	-57.72%	-275.10%
Free Cash Flow Per Share	16.14	-34.09	-27.59	-3.34	-12.11
Cash Interest Paid	216,996	177,569	93,922	53,055	34,922
Cash Income Tax Paid	9,604	1,797	1,062	668.67	393.91

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