Banking and Finance
Wema Bank Releases Full Year 2025 Audited Financial Results
…Declares ₦221.85bn Profit Before Tax, ₦1.25 Dividend, Total Assets hit ₦5 trillion mark.
Wema Bank, Nigeria’s oldest indigenous bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT, has released its FY 2025 Audited Financial Results, achieving record-breaking growth and unparalleled performance across several key metrics.
Key figures include the doubling of the Bank’s Profit Before Tax (PBT) from ₦102.5bn in FY 2024 to ₦221.9bn, an impressive 116.4% increase. Profit After Tax (PAT) also surged by 125.4% from FY 2024’s ₦86.2bn to ₦194.5bn. Total assets also reached the 5 trillion mark, with the attainment of ₦5.07tn, a 41.5% increase from FY 2024’s ₦3.59tn, reflecting a growingly resilient balance sheet. Gross earnings increased by 52.8% to ₦660.6 billion from ₦432.3 billion in FY 2024, a feat driven largely by a 62.7% growth in interest income, reflecting improved yields on earning assets and growth in the loan book.
Customer deposits grew by 30.3% to ₦3.29 trillion from ₦2.52 trillion in FY 2024, demonstrating sustained customer confidence. This growth in deposits provided stable funding for asset growth while supporting liquidity and balance sheet resilience. Net interest income more than doubled, rising by 103.9% to ₦361.0 billion, supported by improved asset pricing and balance sheet expansion. Non-interest income also grew modestly by 8.3% to ₦85.3 billion. Net loans and advances increased by 44.7% to ₦1.74 trillion, up from ₦1.20 trillion in FY 2024, thus reflecting Wema Bank’s continued support for key sectors of the economy while maintaining a disciplined risk management approach. Overall, Wema Bank is set to pay dividend per share of N1.25.
Commenting on the remarkable performance, Wema Bank’s Managing Director/Chief Executive Officer, Moruf Oseni, reiterated the Bank’s unwavering commitment to sustaining its impressive growth momentum and delivering superior value to all stakeholders. According to him, “Wema Bank has delivered one of the strongest growth trajectories in its history. From a Profit Before Tax of ₦14.75 billion three years ago, we grew to ₦43.59 billion in 2023 and reached ₦102 billion in 2024. In 2025, we have taken an even bolder step forward, recording a Profit Before Tax of ₦221 billion. Our Total Assets, which hit the ₦1tn mark in 2021, surpassed ₦3tn in 2024, standing at a staggering ₦5tn as of FY2025. This overall performance not only speaks strongly of Wema Bank’s exceptional financial strength and capacity for sustained growth, but also reflects disciplined execution, a resilient business model, and the unwavering commitment of our people”.
“As of September 2025, Wema Bank successfully surpassed the ₦200bn recapitalisation minimum threshold for commercial banks with national authorisation. Our FY2025 Financial Results only corroborate what has become abundantly clear—Wema Bank is here not just to stay, but to lead the future of banking in Africa. Our 80th anniversary celebration in 2025 marked a fitting commemoration of our 80 years of impact in the finance industry and beyond. With the launch of ‘ALAT: The Evolution’, the upgraded version of our pioneering fully digital bank, ALAT, we not just redefining the digital banking experience with enhanced intelligence, personalisation and flexibility; we ushering Africa into a future filled with profound possibilities”, Oseni concluded.
Wema Bank is a leading financial services entity with banking operations across Nigeria and the globe, through its trailblazing innovative solution, Africa’s first fully digital bank, ALAT. From surpassing the recapitalisation benchmark set by the Central Bank of Nigeria (CBN) to maintaining an unparalleled growth trajectory over the past 5 years, Wema Bank has proven itself stronger than ever—numbers perpetually skyrocketing.
The Bank’s position as leading innovative bank further proves that it is not only able to meet the prevalent needs of its customers but also equipped to anticipate and meet evolving needs as digital banking continues to reshape the finance industry.
FOR FURTHER INFORMATION:
WEMA Bank Plc
Femi Akinfolarin (Head, Strategy & Investor Relations): +234 1 4622632 femi.akinfolarin@wemabank.com
Bunmi Oladosu (Chief Finance Officer): +234 1 2778959 bunmi.oladosu@@wemabank.com
Banking and Finance
Fidelity Bank Extends “Give Her Power” Initiative to Ikorodu
Photo caption:L-R: Team Lead, CSR, Fidelity Bank Plc, Victoria Abuka; Retail Team Rep., Fidelity Bank Plc, Stanley Ogbuze; Branch Leader, Fidelity Bank Plc, Adeola Odeku Branch, Ifeyinwa Asomugha; Public Sector Team Rep., Nnaemeka Ike; Head, Women Banking, Fidelity Bank Plc, Harriba Harry-Pepple; a beneficiary, Mrs. Akinsanya Abeke; Executive Chairman, Imota LCDA, Hon. Benson Sunday Ayodele; Executive Chairman, Ikorodu West LCDA, Hon. Sulaimon Kazeem Olanrewaju; and Chairman, Ikorodu Local Government, Prince Adedayo Ladega, during the Fidelity Bank “Give Her Power Initiative” which held in Ikorodu, Lagos recently.
Leading financial institution, Fidelity Bank Plc, has extended its flagship women empowerment programme, “Give Her Power”, to Ikorodu, Lagos State, empowering over 30 women with vocational tools to support their businesses and improve household income.The Ikorodu outreach, which marks the third phase of the Initiative’s nationwide rollout, saw the distribution of 12 sewing machines, 15 grinding machines among other items, to beneficiaries drawn from Ikorodu Central, Ikorodu West, and Ikorodu North Local Government Areas.Speaking at the event, Fidelity Bank’s Regional Bank Head, Victoria Island, Mr. Nnamdi Edekobi, who represented the Managing Director/Chief Executive Officer, Dr. Nneka Onyeali-Ikpe, emphasized that the “Give Her Power” initiative reflects the bank’s commitment to delivering practical and sustainable empowerment.“The Give Her Power initiative is intentionally designed to go beyond symbolic gestures. Our goal is to equip women with the tools and resources they need to build sustainable businesses, generate income, and create better opportunities for themselves and their families,” he said.Also speaking at the event, the Divisional Head, Brand and Communication, Fidelity Bank Plc, Dr. Meksley Nwagboh, described the Ikorodu outreach as a strategic intervention targeted at underserved women at the grassroots level.He noted that the Initiative will be expanded across other regions, including the South-East, South-South, and Northern Nigeria, reinforcing the bank’s commitment to ensuring women are not excluded from economic opportunities.“When women are empowered financially, the ripple effect is felt across families, communities, and the broader national economy,” he noted.It will be recalled that the “Give Her Power” initiative was initially launched in Lagos through strategic partnerships with organisations including LUSH Hair, Barbergirl Academy School of Barbering, Dee ‘n’ Ell the Shoe Architect, Inter-Bau Foundation, IVM Innoson, National Credit Guarantee Company (NCGC), and One Universe. The initiative is anchored on the bank’s HerFidelity Apprenticeship Programme, which provides vocational training, mentorship, business support, and access to enterprise opportunities.Prior to the Ikorodu activation, the initiative recently took place in Abeokuta, Ogun Staste, where 100 women received 50 sewing machines and 50 grinding machines at an event held at the MKO Abiola Sports Arena.The Ikorodu outreach attracted key government and community stakeholders, including the Chairman of Ikorodu Local Government, Prince Adedayo Ladega; Executive Chairman of Ikorodu West LCDA, Hon. Sulaimon Kazeem Olanrewaju; and Executive Chairman of Imota LCDA, Hon. Benson Sunday Ayodele.One of the beneficiaries, Mrs. Hassan Bukola from Ikorodu North LCDA, expressed gratitude to Fidelity Bank, describing the support as transformative.“This sewing machine is a life-changing opportunity for me. It will help me grow my business and better support my family,” she said.With the successful rollout in Ikorodu, Fidelity Bank has reaffirmed its commitment to scaling the “Give Her Power” initiative nationwide, positioning it as a key driver of women’s economic empowerment and sustainable community development.Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.The Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
Banking and Finance
Providus Bank Expands Footprint with Ekiti Branch, Reaffirms Capital Strength
Providus Bank Plc has commissioned a new branch in Ado-Ekiti, marking another step in its steady expansion across key growth markets in Nigeria.Having met the Central Bank of Nigeria’s (CBN) recapitalisation requirement since January 2025, Providus Bank is now focused on expanding its footprint to support local enterprise, deepen financial inclusion, and bring banking services closer to individuals and businesses.Speaking at the commissioning, the Executive Director/Chief Financial Officer, Deoye Ojuroye, noted that the expansion is part of a broader plan to strengthen the Bank’s presence nationwide over the next 12 months.“Our approach is deliberate—we are growing in the right places, supporting real economic activity, and building a bank that is both resilient and responsive to the needs of our customers.”He added that Providus Bank remains on a strong footing, with a disciplined approach to capital and risk management underpinning its growth.“We are well capitalised within our regulatory category, and that gives us the confidence to continue expanding responsibly while supporting businesses and communities.”The Bank plans to open additional branches in strategic locations over the coming year, reinforcing its commitment to scale, accessibility, and long-term value creation.Providus Bank continues to position itself as a reliable partner to businesses and individuals, combining financial strength with a clear focus on sustainable growth.
Banking and Finance
Fidelity Bank Strengthens SME Support with High Impact Masterclasses on Pricing, Digital Growth and Global Expansion
In line with its commitment to accelerating the growth of Small and Medium Enterprises (SMEs) across Nigeria, leading financial institution, Fidelity Bank Plc, has rolled out a series of high impact masterclasses designed to equip business owners with practical skills, improve operational efficiency and expand market access throughout the month of April 2026.
The first in the series, titled “Pricing That Works: How to Charge Right and Earn More,” held on Friday, April 10, 2026, at the Fidelity SME Hub in Gbagada, Lagos. The session focused on helping entrepreneurs set profitable, sustainable prices without losing customers, an essential factor for long-term business success.
About a hundred SMEs from different sectors attended the masterclass which saw participants receive guidance on key areas many small businesses struggle with including costing, value-based pricing, pricing psychology and customer perception.
Following the success of the pricing masterclass and testimonials from participants, the bank scheduled three additional masterclasses to run throughout April 2026. The second masterclass, held on Tuesday, 14 and Wednesday, 15 April 2026, was a practical, skill-building session titled, “Baking Masterclass: From Kitchen to Cashflow”. The session equipped bakers and food entrepreneurs with hands on techniques to refine their craft, improve product consistency and strengthen their earning potential.
Commenting on the initiative, Divisional Head, Small and Medium-scale Enterprises Banking, Fidelity Bank Plc, Ugochi Osinigwe said, “At Fidelity Bank, we believe that when SMEs succeed, the economy grows. That is why we have curated a suite of masterclasses that provide entrepreneurs with the practical skills they can apply immediately.
“Whether it is pricing correctly, improving product quality, mastering online sales, or preparing for international expansion, we are devoted to empowering SMEs with the tools they need to grow, thrive and prosper.”
She added that the SME Masterclass Series is part of Fidelity Bank’s broader mandate to support SMEs with business advisory, funding, market access and capacity-building initiatives delivered through the Fidelity SME Hub as well as dedicated SME support programmes nationwide. Osinigwe noted that the Bank recently received the Best Retail and SME Bank Award from Independent Newspapers, underscoring its industry leadership and unwavering commitment to growing Nigeria’s MSME sector.
A third masterclass, themed, “Grow Online Sales on a Budget”, is scheduled for April 24, 2026, and will equip entrepreneurs with practical strategies to boost visibility, engage customers, and increase sales using affordable online tools.
Similarly, the fourth and final masterclass, titled, “Take Your Business Global: One-on-One Trade Advisory”, will hold on April 29, 2026 and will serve as a personalized advisory clinic where SME owners will receive expert guidance on export readiness, cross-border payments, global market opportunities, and compliance requirements.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
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