Wema Bank Plc says it is intensifying efforts to attain tier-one banking status following a strong growth in profitability and strategic expansion plans.
Speaking at the bank’s Annual General Meeting in Lagos, the Managing Director and Chief Executive Officer, Moruf Oseni, said the bank had recorded consistent improvement in earnings over the past three years through disciplined execution of its growth strategy.
According to him, the bank’s profit increased from N42 billion to N102.5 billion and further to N221.9 billion in the 2025 financial year, representing nearly a fivefold growth within three years.
Oseni attributed the performance to structural reforms, long-term investments and deliberate efforts aimed at positioning the bank among Nigeria’s top-tier financial institutions.
He noted that the bank remained committed to rewarding shareholders while balancing dividend payouts with the need to preserve capital for future growth opportunities and strategic investments.
The Wema Bank chief also disclosed that proceeds from the bank’s recent capital raise would be deployed towards expanding its loan portfolio, strengthening digital banking platforms and enhancing cybersecurity infrastructure.
He added that the bank planned to deepen its national presence through a “follow-the-money” strategy by expanding branches into commercially viable locations across the country.
Earlier, the Chairman of the Board of Directors, Oluwayemisi Olorunshola, described the bank’s 80th anniversary as a milestone that reflects resilience, strong governance and commitment to building a future-ready institution.
Audited results for the year ended December 31, 2025 showed that profit before tax rose by 116.44 per cent to N221.8 billion from N102.5 billion in 2024.
The bank’s interest income also increased to N576 billion from N354.6 billion, while total assets climbed to N5.07 trillion from N3.5 trillion. Earnings per share rose to N7.12 from N4.83.