In a record feat, Wema Bank Plc, one of Nigeria’s oldest lenders, has joined the N1 trillion market capitalisation club, following Ecobank, Fidelity, and Stanbic IBTC, which had previously reached the milestone.
The addition of Wema Bank to the fold signals rising investor interest in the country’s tier-2 lenders.
As of the close of trade on Tuesday, February 3, the stock had gained 4.2 percent, with its share price rising to N24.95 per share, up from N23.95 the previous day.
The tier two lender began the year at N20.40 and has since gained 22.3 percent on that price, ranking 47th on the Nigerian Stock Exchange (NGX) in terms of year-to-date performance.
“Wema Bank is currently the 24th most valuable stock on the NGX with a market capitalisation of N1 trillion, which is about 0.94 percent of the Nigerian Stock Exchange equity market,” according to African Stock Exchange data, a market analytics platform.
The rally follows a sharp improvement in earnings. Wema Bank’s profit after tax more than doubled in 2025, rising 124 percent to N193.2 billion from N86.3 billion a year earlier, driven by higher interest income, loan growth, and stronger operating cash flows.
According to its unaudited financial statement for the year ended December 31, 2025, the lender’s gross earnings rose to about N653.3 billion, compared with N433.4 billion in 2024, reflecting higher yields on loans and investment securities amid Nigeria’s elevated interest rate environment.
Interest income jumped to N577.1 billion from N354.6 billion a year earlier, supported by a significant expansion in loans and advances to customers, which rose 45 percent to N1.75 trillion from N1.20 trillion in 2024. Income from investment securities also increased, highlighting the bank’s active balance sheet positioning.
