Finance

Wema Bank’s profit rises by 97 per cent to N10.48bn

Wema Bank’s profit rises by 97 per cent to N10.48bn

Wema Bank said its profit after tax rose by 97 per cent in the first half of 2023 financial period to N10.48bn from N5.30bn in H1, 2022.

It disclosed this in its unaudited financial statements for the period ended June 2023, filed on the Nigerian Exchange Limited.

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The bank achieved improved performance including gross earnings of N89.09bn, a year-on-year increase of 49 per cent (H1, 2022: N59.59bn).

Interest income went up by 53 per cent to N76.11bn (H1, 2022: N49.75bn). Non-interest income appreciated by 32 per cent to N12.98bn (H1, 2022: N9.85bn).

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Punch

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