Wema Bank Plc has revealed its monetary outcomes for the primary quarter of 2025, reporting a pre-tax revenue of N41.1 billion, fueled by a rise in curiosity revenue.
This represents a 269.14% improve in comparison with the pre-tax revenue of N11.1 billion from the identical quarter in 2024.
Curiosity revenue rose to N110.3 billion, exhibiting a progress of 58.92% from N69.4 billion reported the earlier yr.
- Of this whole, curiosity from loans and advances to banks and clients accounted for N64.3 billion, whereas curiosity from investments was N45.3 billion.
The bank additionally famous a rise in curiosity bills to N53.7 billion in Q1 2025, an increase of 24.04%.
- Regardless of this, web curiosity revenue elevated by 116.83%, reaching N56.5 billion.
After accounting for impairment prices on credit score losses, web curiosity revenue stood at N54.7 billion, reflecting a 119.14% rise within the first quarter.
- Moreover, web price and fee revenue greater than doubled to N25 billion, up from N10.8 billion in Q1 2024.
- Working revenue elevated by 128.1%, reaching N84.07 billion in comparison with N36.8 billion the earlier yr.
On the stability sheet, the bank’s whole property elevated to N3.6 trillion from N3.5 trillion, whereas retained earnings rose to N139 billion, a progress of 34.67%.
Key Highlights:
Curiosity revenue: N110.3 billion, +58.92% YoY
- Curiosity bills: N53.7 billion, +24.04% YoY
- Internet curiosity revenue: N56.5 billion, +116.83% YoY
- Internet curiosity revenue after impairment prices: N54.7 billion, +119.14% YoY
- Internet price and fee revenue: N25 billion, +130.84% YoY
- Working revenue: N84 billion, +128.17% YoY
- Pre-tax revenue: N41.1, +269.14% YoY
- Complete property: N3.6 trillion, +0.36% YoY
Retained earnings: N139 billion, +34.67% YoY
As of the buying and selling day ended twenty ninth April 2025, shares of Wema Bank had been priced at N13.75, representing a year-to-date efficiency of 51.1%.
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