Wema Bank PLC (NGX:WEMABANK)

Wema Bank Income Statement

Financials in millions NGN. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	395,540	354,633	185,643	108,037	74,798	64,553
Interest Paid on Deposits	187,985	177,569	93,922	53,807	34,922	33,703
Net Interest Income	207,555	177,064	91,721	54,230	39,877	30,850
Net Interest Income Growth (YoY)	100.79%	93.05%	69.13%	35.99%	29.26%	18.72%
Income From Trading Activities	4,335	3,441	822.49	4,002	1,556	3,940
Gain (Loss) on Sale of Assets	460.3	471.68	330.91	-5.29	167.03	1,267
Gain (Loss) on Sale of Investments	4,683	2,497	0.23	1,531	557.33	326.27
Other Non-Interest Income	86,771	72,392	40,118	19,488	16,554	11,234
Total Non-Interest Income	96,249	78,801	41,271	25,016	18,834	16,767
Non-Interest Income Growth (YoY)	103.03%	90.93%	64.98%	32.82%	12.33%	-30.72%
Revenues Before Loan Losses	303,804	255,865	132,992	79,246	58,711	47,617
Provision for Loan Losses	22,364	21,650	10,563	4,762	2,104	5,635
Revenue	281,440	234,215	122,429	74,484	56,607	41,982
Revenue Growth (YoY)	102.16%	91.31%	64.37%	31.58%	34.84%	-4.71%
Salaries and Employee Benefits	48,517	45,475	26,755	21,333	16,677	14,082
Occupancy Expenses	9,442	8,740	6,122	4,546	3,399	3,136
Selling, General & Administrative	12,821	12,185	7,721	6,238	3,740	3,586
Other Non-Interest Expense	78,134	65,297	38,166	27,484	20,412	15,309
Total Non-Interest Expense	148,914	131,698	78,765	59,600	44,229	36,113
EBT Excluding Unusual Items	132,526	102,517	43,664	14,884	12,377	5,868
Pretax Income	132,526	102,517	43,664	14,884	12,377	5,932
Income Tax Expense	20,116	16,237	7,675	3,532	3,451	1,354
Net Income	112,410	86,280	35,989	11,352	8,927	4,577
Net Income to Common	112,410	86,280	35,989	11,352	8,927	4,577
Net Income Growth	179.08%	139.74%	217.03%	27.17%	95.01%	-11.97%
Basic Shares Outstanding	19,109	17,859	12,858	12,856	12,858	12,858
Diluted Shares Outstanding	19,109	17,859	12,858	12,856	12,858	12,858
Shares Change (YoY)	48.61%	38.89%	0.02%	-0.02%	-	-
EPS (Basic)	5.88	4.83	2.80	0.88	0.69	0.36
EPS (Diluted)	5.88	4.83	2.80	0.88	0.69	0.36
EPS Growth	87.79%	72.61%	216.98%	27.19%	95.01%	-11.97%
Dividend Per Share	1.000	1.000	0.500	0.300	0.240	0.120
Dividend Growth	100.00%	100.00%	66.67%	25.00%	100.00%	-
Effective Tax Rate	15.18%	15.84%	17.58%	23.73%	27.88%	22.83%

Updated Jan 30, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.