Q1 2026: Wema Bank customer deposits hit N3.29trn

…posts N67.07bn revenue 

Customer deposits in Wema Bank have surged to N3.29 trillion for the first quarter ended March 31, 2026. 

This is as the Bank sustained its upward trajectory reporting a significant expansion in its bottom line for the first quarter ended March 31, 2026. 

Building on a record-breaking 2025 performance, the bank’s latest financial statements reveal a robust double-digit growth in profitability, driven primarily by soaring interest income and an aggressive expansion of its digital banking footprint. 

The bank’s net income for the quarter reached N67.07 billion, reflecting the institution’s success in navigating a high-interest-rate environment. 

This profit surge was underpinned by a substantial increase in gross earnings, which benefited from a 62.7% rise in interest-driven revenue. 

The bank’s ability to optimize its yield on earning assets while maintaining a disciplined approach to risk management allowed its net interest income to more than double compared to the previous year’s comparative period. 

Wema’s balance sheet also demonstrated considerable strengthening, with total assets crossing the N5 trillion threshold. 

Efficiency remains a cornerstone of the bank’s strategy, with the cost-to-income ratio improving to 47.3%. 

This leaner operational structure, coupled with the continued evolution of its ALAT digital platform, has positioned Wema Bank to convert its revenue growth into superior shareholder value. 

With a return on equity (ROE) of 44.35%, the bank enters the second quarter of 2026 as one of the most efficient players in the Nigerian mid-tier banking segment, well on track to meet its ambitious year-end targets.