Wema Bank Records Impressive Half Year Earnings

By Modupe Gbadeyanka

Wema Bank Plc has released its half year financial statements and the lender posted an impressive performance.

In the audited results, the company declared N1.22 billion profit after tax in the period, which ended June 30, 2017, in contrast to N1.1 billion in the first half of last year.

During the period, N215 million was paid as income tax expense by Wema Bank from the N1.43 billion profit before tax declared.

The lender also disclosed in the results that deposits from its customers as at June 30, 2017, stood at N251.7 billion, while its total assets closed at N386 billion.