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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

Wema Bank

WEMABANK · Nigerian Exchange · Consolidated statements

On this page
Company details
Legal name
Wema Bank Plc
Listing
WEMABANK on the Nigerian Exchange, active · ISIN NGWEMABANK07 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2025 · annual report, signed / final · source

  • Net interest income

    NGN 361 billion

    360,980,729 NGN thousands · p121

    +103.9% vs 2024

    Printed as 'Net interest income' in the consolidated statement of profit or loss (p121).

  • Operating income

    NGN 421 billion

    420,614,268 NGN thousands · p121

    +79.6% vs 2024

    Printed as 'Operating income' (p121): net interest income after impairment charge plus non-interest income; the issuer prints no total operating income before impairment.

  • Profit for the year

    NGN 194 billion

    194,476,493 NGN thousands · p121

    +125.4% vs 2024

    Printed as 'Profit for the year' (p121).

  • Total assets

    NGN 5.07 trillion

    5,072,310,440 NGN thousands · p122

    +41.2% vs 2024

    Printed as 'Total Assets' (p122).

  • Deposits from customers

    NGN 3.29 trillion

    3,289,532,364 NGN thousands · p122

    +30.3% vs 2024

    Printed as 'Deposits from customers' (p122).

  • Equity attributable to equity holders of the bank

    NGN 620 billion

    620,463,321 NGN thousands · p122

    +142.0% vs 2024

    Printed as 'Equity attributable to equity holders of the bank' (p122), the only equity total printed.

Large amounts are rounded for reading (NGN million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NGN thousands unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2025 — annual report, signed / final; reported for the year · source
  • FY2024 — annual report, signed / final; comparative in the FY2025 filing · source

Income statement

Income statement, NGN thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Interest income 576,071,251 354,633,103
Interest expense (215,090,522) (177,569,260)
Net interest income 360,980,729 177,063,843
Net impairment loss on financial assets (25,685,010) (21,649,883)
Net interest income after impairment charge for credit losses1 335,295,719 155,413,960
Net gain on FVTPL investment securities 993,244 2,497,076
Net fee and commission income 75,545,990 55,576,183
Net trading income 8,386,750 3,440,533
Other income 392,565 17,287,111
Non-interest income (unlabelled subtotal) 85,318,549 78,800,903
Operating income2 420,614,268 234,214,863
Personnel expenses (70,184,778) (45,475,369)
Depreciation and amortization3 (12,479,855) (8,740,108)
Other operating expenses (116,062,499) (77,482,216)
Profit before taxation 221,887,136 102,517,170
Income tax expense (27,410,643) (16,237,349)
Profit for the year 194,476,493 86,279,821
Other comprehensive income for the year 1,059,095 1,477,902
Total comprehensive income for the year 195,535,588 87,757,723
Notes and alternative reported figures (3)
  1. “Net interest income after impairment charge for credit losses” is an issuer-specific line, not mapped to a shared definition: Net interest income less net impairment loss.
  2. “Operating income” is an issuer-specific line, not mapped to a shared definition: Net interest income after impairment plus non-interest income (printed subtotal).
  3. “Depreciation and amortization”: mapping to a shared definition is uncertain. One line for depreciation and amortisation.

Balance sheet

Balance sheet, NGN thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Cash and cash equivalents1 940,821,739 278,924,625
Restricted Deposit with CBN2 919,820,096 838,595,007
Pledged assets3 20,018,671 307,235,855
Fair value through other comprehensive income 15,815,126 14,756,031
Fair Value through profit or loss 196,598,757 45,455,938
Held at amortised cost 1,122,978,680 840,020,678
Wema funding SPV Plc4 –5 –5
Loans and advances to customers 1,737,932,376 1,201,209,319
Property and equipment 79,683,157 48,322,246
Intangible assets 3,561,689 4,098,343
Deferred tax assets 10,449,319 472,076
Other assets 23,413,367 12,967,801
Right of Use Assets 1,217,463 1,170,067
Total Assets 5,072,310,440 3,593,227,986
Deposits from banks –6 258,500,000
Deposits from customers 3,289,532,364 2,523,815,263
Current tax liabilities 37,387,886 9,604,424
Other liabilities 1,007,767,720 431,868,351
Provisions 3,532,476 3,150,527
Other borrowed funds 113,626,673 109,868,074
Total Liabilities 4,451,847,119 3,336,806,639
Share capital 20,059,438 10,715,089
Share premium 240,601,448 56,430,821
Regulatory risk reserve 37,200,937 10,503,742
Retained earnings 215,056,700 103,251,267
Additional Tier 1 capital7 21,000,000 21,000,000
Other reserves8 86,544,798 54,520,428
Equity attributable to equity holders of the bank9 620,463,321 256,421,347
Total liabilities and equity 5,072,310,440 3,593,227,986
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.total_assets.
  2. Printed “-”, read as nil: subtotal_arithmetic: bs.total_liabilities.
Notes and alternative reported figures (7)
  1. “Cash and cash equivalents”: mapping to a shared definition is uncertain. Printed 'Cash and cash equivalents' (note 15); the restricted CBN deposit is a separate line.
  2. “Restricted Deposit with CBN” is an issuer-specific line, not mapped to a shared definition: Note 15b: cash reserve requirement.
  3. “Pledged assets” is an issuer-specific line, not mapped to a shared definition: Note 16.
  4. “Wema funding SPV Plc” is an issuer-specific line, not mapped to a shared definition: Note 17d: the Bank's investment in its subsidiary (Group prints dashes).
  5. “Additional Tier 1 capital” is an issuer-specific line, not mapped to a shared definition: Note 28.
  6. “Other reserves” is an issuer-specific line, not mapped to a shared definition: Note 28.
  7. “Equity attributable to equity holders of the bank”: mapping to a shared definition is uncertain. The only equity total printed (no non-controlling interest; it includes Additional Tier 1 capital).

Cash flow

Cash flow, NGN thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Cashflow generated by operations 464,332,927 116,876,526
Income tax paid (9,604,424) (1,796,732)
Interest received1 576,071,251 354,633,103
Interest paid2 (196,508,004) (158,020,919)
Net cash from operating activities 834,291,750 311,691,978
Acquisition of investment securities-At Amortised Cost3 (282,958,002) (225,127,795)
Disposal of investment securities-FVTOCI4 0 76,541
Dividend received from equity investment5 215,581 245,681
Acquisition of property and equipment (42,112,769) (20,294,311)
Proceeds from the sale of property and equipment 307,322 941,511
Prepaid right of Use Asset6 (456,342) (319,369)
Acquisition of intangible assets (1,072,892) (2,289,853)
Net cash used in investing activities (326,077,103) (246,767,596)
Proceed from borrowings 43,550,000 68,741,938
Repayment of borrowings (39,791,399) (39,340,616)
AT-1 Coupon Payment7 (3,578,413) (3,366,414)
Proceeds from private placements8 49,015,000 –9
Proceeds from right Issues10 144,499,976 39,160,447
Interest paid on borrowings (18,582,518) (19,548,341)
Dividend paid to shareholders (21,430,178) (6,429,078)
Net cash from financing activities 153,682,468 39,217,937
Net increase in cash and cash equivalents 661,897,115 58,691,050
Cash and cash equivalents at beginning of period 281,067,528 217,832,580
Effect of exchange rate changes on cash balances (2,142,904) 2,400,995
Cash and cash equivalents at end of year 940,821,739 278,924,625
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (9)
  1. “Interest received” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 32(xiii)).
  2. “Interest paid” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 32(viii)).
  3. “Acquisition of investment securities-At Amortised Cost” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 32(ix)).
  4. “Disposal of investment securities-FVTOCI” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 32(x)).
  5. “Dividend received from equity investment” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 10).
  6. “Prepaid right of Use Asset” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 27).
  7. “AT-1 Coupon Payment” is an issuer-specific line, not mapped to a shared definition: Financing activities.
  8. “Proceeds from private placements” is an issuer-specific line, not mapped to a shared definition: Financing activities.
  9. “Proceeds from right Issues” is an issuer-specific line, not mapped to a shared definition: Financing activities.

Per share and shares

Per share and shares. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Earnings / (loss) per share (per share)3 7.12871 4.8312
Profit / (loss) attributable to shareholders (NGN thousands)4 194,476,493 86,279,821
  1. Printed as 712.87 kobo; value converted to NGN at 100 kobo = 1 NGN.
  2. Printed as 483.1 kobo; value converted to NGN at 100 kobo = 1 NGN.
Notes and alternative reported figures (2)
  1. Earnings / (loss) per share: printed as “Earnings per share-basic/diluted (kobo)”.
  2. Profit / (loss) attributable to shareholders: printed as “Equity holders of the Bank”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2025 Dividends paid (cash flow statement) Dividend paid to shareholders (21,430,178) NGN thousands Annual report, p125
31 Dec 2024 Dividends paid (cash flow statement) Dividend paid to shareholders (6,429,078) NGN thousands Annual report, p125

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Wema Bank 2025 Annual Report

    Year ended 31 December 2025 · Annual report · signed / final

    Audit: KPMG Professional Services (Chartered Accountants), Lagos, unmodified opinion · signed

    Auditor's sign-off: Oluwafemi Awotoye, for KPMG Professional Services

    Final status: Independent auditor's report to the shareholders of Wema Bank Plc by KPMG Professional Services (Oluwafemi Awotoye, FRC/2013/PRO/ICAN/004/00000001182), unmodified opinion (p116), hand-signed with an ICAN seal and dated 2 April 2026 (p120, page image; pp116-120 are images without a text layer). Statements authorised for issue by the directors on 10 March 2026 and signed by the chairman, the MD/CEO and the CFO (p122, page image).

    Document date
    2 Apr 2026
    Auditor's report
    2 Apr 2026
    Board approval
    10 Mar 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    consolidated statements · NGN thousands (printed “In thousands of Nigerian Naira”)
    • 2024 comparative cash flow (Group, p125, checked on the page image): net cash from operating (311,691,978), investing ((246,767,596)) and financing (39,217,937) activities add to 104,142,319, but the printed net increase in cash is 58,691,050; the difference 45,451,269 equals the 2024 'Non-pledged trading assets' movement, which the printed 2024 'Cashflow generated by operations' (116,876,526) also leaves out of its own working-capital lines (they add to 71,425,256 + 45,451,270). The 2024 net increase agrees with the opening and closing cash. Kept as printed; the arithmetic check fails for 2024.
    • Cash and cash equivalents at the beginning of 2025 in the statement of cash flows (281,067,528) differ from the 2024 closing figure (278,924,625) printed in the same statement and on the statement of financial position (p122, p125). Kept as printed.
    • Earnings per share printed in kobo (712.87; 2024: 483.1, p121; basic and diluted on one line) is stored in naira (÷100) with the printed figure and unit kept.
    Technical details
    File
    248 pages, with a text layer
    SHA-256
    e5c625f1eb86f310314751d8def0d1eeed541ae5f84b2d026508abbea07d446b
    Entity as printed
    Wema Bank Plc (the Bank) and its subsidiary (together, "the Group")
    Exchange copy
    retrieved 2026-10-08T18:01:00Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.

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