Wema Bank has delivered one of its strongest half-year performances on record, reporting a profit after tax of ₦131.37 billion for the first six months of 2026; a 50.12 per cent increase from ₦87.51 billion recorded in the corresponding period of 2025.

The results, contained in the bank’s unaudited financial statements for H1 2026, reflect broad-based growth across key income lines. Furthermore, profit before tax climbed 53.65 per cent to ₦154.56 billion from ₦100.59 billion, while gross earnings grew 36.9 per cent to ₦415.09 billion.

Interest income remained the primary engine of growth, rising 42.70 per cent to ₦342.64 billion from ₦240.12 billion in H1 2025. Additionally, net interest income expanded 51.25 per cent to ₦195.45 billion, reflecting higher returns from lending activities and investment assets. Net trading income surged 657.42 per cent to ₦21.53 billion from ₦2.84 billion; one of the standout drivers of the half-year result, pointing to significant treasury trading gains during the period.

Electronic banking remained a significant contributor to the bank’s revenue during the period. Wema Bank generated ₦7.14 billion from its electronic banking products in the first half of 2026, underscoring the growing importance of digital banking in driving revenue for Nigerian lenders.

The digital revenue derives from everyday customer activity: transfers through the ALAT app, bill payments, card transactions, USSD banking, and online commerce. Moreover, electronic banking ranked as the bank’s second-largest fee-generating business during the period, following management fees, which reached ₦10.76 billion. Overall fee and commission income for H1 2026 reached ₦36.09 billion, with electronic banking contributing nearly 20 per cent of that total.

Account maintenance fees contributed an additional ₦7.07 billion, while foreign exchange transaction fees added ₦3.77 billion. Credit-related fees accounted for ₦2.88 billion, while other fee categories contributed ₦3.04 billion.

Wema Bank also strengthened its balance sheet significantly during the period. Total assets rose 13.5 per cent to ₦5.76 trillion as of June 30, 2026, from ₦5.07 trillion at the end of December 2025. Consequently, loans and advances to customers grew to ₦2.12 trillion from ₦1.74 trillion, reflecting the bank’s continued expansion in lending activities.

Customer deposits rose to ₦3.53 trillion, while shareholders’ funds increased to ₦721.6 billion, driven by retained earnings growth following the bank’s recapitalisation programme.

The H1 results position Wema Bank firmly among Nigeria’s strongest performing mid-tier lenders and reinforce the bank’s growth trajectory as it continues to invest in digital infrastructure, lending capacity, and customer acquisition across its expanding branch and digital network.

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