Wema Bank Plc on Sunday released its audited financial results for the year ended December 31, 2025, posting a profit before tax of ₦221.85 billion and declaring a final dividend of ₦1.25 per share for shareholders, capping a strong year that saw its total assets cross the ₦5 trillion mark for the first time.
The results, filed with the Nigerian Exchange Limited (NGX) and published on the bank’s investor portal, show a 31.4% jump in profit before tax from ₦168.84 billion in FY 2024. Profit after tax stood at ₦188.57 billion, up 29.8% year-on-year, as the bank rode on higher interest income, improved cost efficiency, and growth in its digital banking channels.
Key Financial Highlights
- Gross earnings: ₦612.33 billion vs ₦472.91 billion in 2024, up 29.5%
- Net interest income: ₦324.16 billion, up 36.2% on the back of loan book expansion and elevated yield environment
- Non-interest income: ₦98.74 billion, driven by fees from digital transactions, trade, and FX trading gains
- Customer deposits: ₦3.81 trillion vs ₦2.96 trillion in 2024, up 28.7%
- Loans and advances: ₦2.14 trillion vs ₦1.69 trillion, up 26.6%
- Total assets: ₦5.02 trillion vs ₦3.88 trillion, up 29.4%
- Cost-to-income ratio: 48.3%, improved from 52.1% in 2024
- Capital adequacy ratio: 19.2%, above the 15% regulatory minimum
- NPL ratio: 3.7%, down from 4.1% in 2024
The Board approved a final dividend of ₦1.25 per ordinary share of 50 kobo each, subject to withholding tax and shareholder approval at the Annual General Meeting slated for May 8, 2026. That brings the total dividend for FY 2025 to ₦1.25, as no interim was paid. The dividend qualifies for closure of the register on April 21, 2026.
Management Commentary
Managing Director/CEO Moruf Oseni said the performance reflects “disciplined execution” of the bank’s five-year strategy focused on retail, SME, and digital. “We grew with quality. Our loan book expanded, but NPLs dropped. Our deposits are stickier, and our channels are faster,” Oseni said in a statement. “Crossing ₦5 trillion in assets is symbolic, but the real story is efficiency — cost-to-income is now below 50% for the first time in a decade.”
He added that Wema Bank’s ALAT digital platform processed over 410 million transactions in 2025, up 42% year-on-year, and onboarded 1.9 million new retail customers. The bank also grew its agent banking network to 118,000 agents nationwide, supporting deposit mobilisation in underserved areas.
Shareholder Reaction
Shareholder groups welcomed the dividend. The National Coordinator of the Pragmatic Shareholders Association, Bisi Bakare, said: “₦1.25 is solid in this environment. It shows management is balancing growth and returns. We’ll ask questions on sustaining it at the AGM, but for now, we’re pleased.”
On the NGX, Wema Bank closed Friday at ₦14.80. The ₦1.25 dividend implies a yield of 8.4% at that price, one of the highest among Tier-2 banks.
Context and Outlook
The result comes on a busy news day in Nigeria. The APC is battling a rival faction in Abuja and mass resignations in Enugu, the ADC is protesting at INEC, and Dangote Refinery cut petrol to ₦1,200/litre. For the financial sector, Wema’s numbers add to a string of strong bank results driven by high interest rates, FX gains, and revaluation benefits.
Wema Bank said it expects 2026 to be “more normalised” as rates moderate, but plans to defend margins through cheaper deposits and growth in non-interest income. The bank listed three priorities: deepening retail lending with data, scaling ALAT for Business, and expanding in trade finance.
Chairman Dr Oluwole Ajimisinmi thanked shareholders and staff, noting that the bank turned 81 in 2025. “From Nigeria’s oldest indigenous bank to a ₦5 trillion institution, this is a story of resilience,” he said. “We will keep innovating while keeping risk tight.”
What Next
The bank’s 2025 Annual General Meeting will be held virtually and physically in Lagos on May 8, where shareholders will approve the dividend and elect directors. Payment date is set for May 12, 2026, to shareholders on the register as of April 21.
With inflation at 28.4% and households under pressure, strong bank dividends are one of the few tailwinds for retail investors. For Wema Bank, the challenge now is proving it can keep this momentum once the high-rate cycle cools.
