Wema Bank Q3 2024 profit before tax increased 174% to ₦60.62bn, with total assets up 38% to ₦3.084 trillion.

Wema Bank, a Nigerian financial institution, reported a 174% increase in profit before tax to ₦60.62 billion for Q3 2024. The bank's total assets grew by 38% to ₦3.084 trillion, with deposits rising 23% to ₦2.292 trillion and loans increasing by 25% to ₦1.003 trillion. Gross earnings surged 91% to ₦288.32 billion. Key metrics included a Return on Equity of 38.62% and a Capital Adequacy Ratio of 14.06%. The bank aims to maintain growth into 2025.

October 31, 2024
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