WEMA Bank Plc Reports Gross Earnings of N59.59bn

The bank recorded Gross earnings of ₦59.59bn, a y/y increase of 50% (H1 2021: ₦39.82bn). Interest Income up 55% y/y to ₦49.75bn (H1 2021: ₦32.19bn). Non-Interest Income up 29% y/y to ₦9.85bn (H1 2021: ₦7.64bn).
Profit before tax (PBT) was ₦6.13bn a y/y increase of 43% over the ₦4.30bn reported in H1 2021. Profit after tax (PAT) also increased y/y by 42% to ₦5.30bn (₦3.72bn in H1 2021). The bank grew its deposit year to date by 13% as of H1 2022 to ₦1,097.07bn from ₦968.17bn reported in FY 2021. Loans and advances rose by 7% to ₦447.23bn from ₦418.86bn in H1 2022.

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