Wema Bank Q3 2026: Profit Before Tax Hits ₦258.6bn

In Short

Wema Bank Plc reported unaudited results for the period ended 30 September 2026. The bank posted nine month profit before tax of ₦258.6 billion and profit of ₦219.8 billion.

What Happened: Key Lines From Wema Bank’s Q3 2026 Results

Wema Bank’s statement of profit or loss shows nine month interest income of ₦543.6 billion and interest expense of ₦217.7 billion. That left net interest income of ₦325.9 billion.

The bank also reported a net impairment loss on financial assets of ₦18.5 billion. This is the charge the bank records for expected credit losses on loans and other financial assets.

On non interest income lines, the bank reported net fee and commission income of ₦55.1 billion and net trading income of ₦46.1 billion over the nine month period. Other income was ₦18.0 billion.

Operating income for the nine months was ₦437.0 billion. On the cost side, personnel expenses were ₦69.1 billion, depreciation and amortization was ₦14.0 billion, and other operating expenses were ₦95.2 billion.

Profit before tax was ₦258.6 billion and income tax expense was ₦38.8 billion, resulting in profit for the period of ₦219.8 billion.

Why It Matters

These results suggest Wema Bank is growing both its net interest income and its non interest income, while also booking impairment charges tied to credit risk. The balance sheet also expanded, with total assets rising to ₦7.43 trillion at 30 September 2026 from ₦5.07 trillion at 31 December 2025.

Loans and advances to customers increased to ₦2.51 trillion from ₦1.74 trillion over the same period. Deposits from customers rose to ₦3.86 trillion from ₦3.29 trillion.

For digital banking watchers, stronger fee and commission income can be a signal of higher transaction activity across payment and account services.