Wema Bank grows profit by 147% to N88.8bn in 2024

Wema Bank Plc has announced N88.8 billion profit after tax in its unaudited financial year ended December 31, 2024, about 147 per cent increase over N35.99billion declared in 2023 financial year.

The lender in its unaudited result and accounts on the Nigerian Exchange Limited (NGX) reported N102.1 billion profit before tax in 2024, about 133.8per cent growth when compared to N43.66 billion reported in 2023.

From profit & loss figures, Wema Bank announced N3.62 trillion total assets in 2024, representing an increase of 61 per cent from N2.25trillion in 2023.

The Managing Director/Chief Executive Officer of the bank, Mr. Moruf Oseni had maintained that the bank’s 2024 performance speaks of its resilience despite a tough operating environment.

“We will sustain our growth trajectory into 2025,” he added.

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