A tier-2 Nigerian commercial bank, Wema Bank has reported a pre-tax profit of ₦100.5 billion ($65 million) for the first half of 2025—marking a 229% year-on-year increase and underscoring its strong financial momentum.

The bank attributed the impressive growth to a sharp rise in interest income, which climbed 64.76% compared to the same period in 2024. The surge reflects improved earnings from loans issued to both individual and corporate customers.

At the close of trading on Thursday, Wema Bank’s shares were priced at ₦22 ($0.01), capping a 148% year-to-date gain—a clear signal of growing investor confidence in the bank’s strategy and performance, similar to positive trends seen in other listed lenders like GTBank.

Wema Bank is also among the eight commercial banks that have met the Central Bank of Nigeria’s recapitalisation requirement, ahead of the March 2026 deadline. It now joins the ranks of top-tier lenders such as Access Bank and Zenith Bank in crossing this regulatory milestone.

Beyond its balance sheet, the bank has made headlines for becoming the highest-paying commercial bank in Nigeria as of March 2025, with over 1,700 employees benefitting from a revamped compensation structure. The move is part of Wema’s broader talent retention strategy as Nigerian banks compete for skilled professionals in a tightening labour market.

As other banks like UBA explore rights issues, mergers, or acquisitions to meet the CBN’s capital threshold, Wema’s robust financial showing puts it in a stronger position to consolidate gains and push for more market share in the months ahead.