Wema Bank’s H1 2025 results reveal a remarkable 231% surge in Profit Before Tax to ₦101.2 billion, highlighting Nigeria’s oldest bank’s strong growth and resilience despite economic challenges
Wema Bank’s H1 2025 results confirm an outstanding financial performance as the bank posted a remarkable 231% increase in Profit Before Tax (PBT), reaching ₦101.2 billion for the first half of 2025.
This surge reflects the bank’s unwavering resilience and effective strategies in Nigeria’s competitive banking sector.
The oldest indigenous bank in Nigeria and pioneer of Africa’s fully digital bank, ALAT, reported gross earnings of ₦303.20 billion — a 70% growth compared to the same period last year.
Interest income rose 65% to ₦240.12 billion, while non-interest income jumped 91% to ₦63.08 billion, signaling diverse revenue streams powering the bank’s growth.
Wema Bank’s robust balance sheet showed total assets climbing to ₦3.963 trillion, a significant rise from ₦3.585 trillion in H1 2024.
Deposits grew 3% to ₦2.60 trillion, while loans and advances surged 19% to ₦1.426 trillion, demonstrating strong operational momentum.
Managing Director and CEO Moruf Oseni praised the milestone, saying, “For 80 years, Wema Bank has redefined impossible, consistently breaking new ground and delivering positive impact. Achieving over 99% of our 2024 full-year PBT within just six months of 2025 is a testament to our relentless commitment.”
The bank maintained a low Non-Performing Loan (NPL) ratio of 3.17%, reflecting prudent risk management and asset quality.
Wema Bank’s other key metrics also showed marked improvement, including a 60.40% increase in Return on Average Equity (ROAE), a 4.64% growth in Return on Average Assets (ROAA), and a 13.68% rise in Capital Adequacy Ratio (CAR).
This impressive financial upturn underscores Wema Bank’s powerful legacy of empowering lives and setting new industry benchmarks as it continues to deliver exceptional value to stakeholders across Nigeria.
Bank of Industry (BOI), Nigeria’s foremost Development finance institution and a globally recognised organisation specialising in international development cooperation with countries, the German Agency for International Cooperation (GIZ), on Wednesday April 15, 2026, signs a Partnership Framework Agreement to drive sustainable innovation and economic development for large enterprise, and Micro, Small and Medium Enterprises (MSMEs) sector in Nigeria.
The partnership is hinged on delivering coordinated interventions across key strategic pillars including access to finance, entrepreneurship development, capacity building, and market access; and integrates focused support for climate finance and renewable energy investments; and a robust alignment with global sustainability priorities that enables MSMEs to be engines of economic development.
With this landmark agreement, BOI and GIZ are positioned to mutually ensure that capacity building efforts for businesses focuses on strengthening the technical and institutional capabilities of BOI’s Business Development Service Providers (BDSPs), equipping them to deliver higher-impact advisory services to the Bank’s customers; as well as enshrine a structured vocational training provided under the ICSS (Inspire, Create, Start and Scale) entrepreneurship programme to enhance productivity, workforce quality and overall business competitiveness to MSMEs.
The central pillar of this year’s partnership framework is its women’s economic empowerment through targeted financing initiatives; agribusiness development and rural enterprise growth; and climate-focused investment imperative to scale its renewable energy and energy efficiency financing portfolio.
BOI will strategically deepen its efforts to secure endorsement with the Green Climate Fund (GCF) with support from GIZ, a German-led development agency.
Speaking at the announcement ceremony, MD/CEO, Bank of Industry (BOI), Dr. Olasupo Olusi, said “This partnership is about closing the gap between enterprise potential and enterprise reality. Too many Nigerian businesses, particularly MSMEs, have the ideas, the drive, and the market opportunity, but lack the financing, technical capacity, or market access needed to scale. This partnership reflects our unwavering commitment to constantly form new partnerships to strengthen the entrepreneurial ecosystem in Nigeria. By combining our financing expertise with our partner’s international development experience, we are building a comprehensive framework that will directly translate into jobs, innovation, affordable, long-term financing and sustainable growth for MSMEs in Nigeria.”
In his remarks, Country Director, GIZ Nigeria and ECOWAS, Dr. Magnus Wagner, said, “This partnership demonstrates our joint commitments to strengthening Nigeria’s private sector and to advancing sustainable and inclusive economic growth.
“Through this partnership, we aim to support small and medium enterprises. We are trying more to look at SME, formalized business, which is the resilient backbone of Nigeria’s economy. So, we would like to work, we have decided in areas such as climate and sustainable finance, renewable energy and energy efficiency, entrepreneurship and innovation, women’s economic empowerment, agribusiness and rural transformation, and digital trade and market access.
“We look forward to a close and successful collaboration with the Bank of Industry, one that delivers tangible results for business, communities, and the country and the population as a whole”.
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