Wema Bank Income Statement

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	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	723,490	576,071	354,633	185,643	108,037	74,798
Interest Paid on Deposits	272,238	215,091	177,569	93,922	53,807	34,922
Net Interest Income	451,252	360,981	177,064	91,721	54,230	39,877
Net Interest Income Growth	47.06%	103.87%	93.05%	69.13%	35.99%	29.26%
Income From Trading Activities	43,803	8,387	3,441	822.49	4,002	1,556
Gain (Loss) on Sale of Assets	54.08	46.05	471.68	330.91	-5.29	167.03
Gain (Loss) on Sale of Investments	10,350	993.24	2,497	0.23	1,531	557.33
Other Non-Interest Income	94,939	75,893	72,392	40,118	19,488	16,554
Total Non-Interest Income	149,147	85,319	78,801	41,271	25,016	18,834
Non-Interest Income Growth	74.55%	8.27%	90.93%	64.98%	32.82%	12.33%
Revenues Before Loan Losses	600,399	446,299	255,865	132,992	79,246	58,711
Provision for Loan Losses	28,927	25,685	21,650	10,563	4,762	2,104
Revenue	571,472	420,614	234,215	122,429	74,484	56,607
Revenue Growth	55.70%	79.58%	91.31%	64.37%	31.58%	34.84%
Salaries and Employee Benefits	88,953	70,185	45,475	26,755	21,333	16,677
Occupancy Expenses	18,120	12,480	8,740	6,122	4,546	3,399
Selling, General & Administrative	14,551	13,532	12,185	7,721	6,238	3,740
Other Non-Interest Expense	115,758	102,531	65,297	38,166	27,484	20,412
Total Non-Interest Expense	237,382	198,727	131,698	78,765	59,600	44,229
EBT Excluding Unusual Items	334,090	221,887	102,517	43,664	14,884	12,377
Pretax Income	334,090	221,887	102,517	43,664	14,884	12,377
Income Tax Expense	47,170	27,411	16,237	7,675	3,532	3,451
Net Income	286,921	194,476	86,280	35,989	11,352	8,927
Net Income to Common	286,921	194,476	86,280	35,989	11,352	8,927
Net Income Growth	78.28%	125.40%	139.74%	217.03%	27.17%	95.01%
Basic Shares Outstanding	40,119	27,281	17,859	12,858	12,856	12,858
Diluted Shares Outstanding	40,119	27,281	17,859	12,858	12,856	12,858
Shares Change	110.74%	52.76%	38.89%	0.02%	-0.02%	-
EPS (Basic)	7.15	7.13	4.83	2.80	0.88	0.69
EPS (Diluted)	7.15	7.13	4.83	2.80	0.88	0.69
EPS Growth	-15.40%	47.55%	72.61%	216.98%	27.19%	95.01%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	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
Dividend Per Share	1.250	1.250	1.000	0.500	0.300	0.240
Dividend Growth	25.00%	25.00%	100.00%	66.67%	25.00%	100.00%
Effective Tax Rate	14.12%	12.35%	15.84%	17.58%	23.73%	27.88%