Wema Bank Plc has crossed the N1 trillion market capitalisation threshold for the first time since its listing, marking a significant milestone for one of Nigeria’s oldest lenders and underscoring renewed investor interest in the country’s tier-two banking stocks.
The lender joins a small group of banks, including Ecobank, Fidelity Bank, and Stanbic IBTC, that have previously reached the trillion-naira valuation mark. Market analysts say Wema Bank’s inclusion reflects growing confidence in mid-tier banks as they deliver stronger earnings and capitalise on Nigeria’s high-interest rate environment.
As of the close of trading on Tuesday, February 3, Wema Bank’s shares rose 4.2 percent to N24.95, up from N23.95 the previous day, pushing its market value above the N1 trillion level. The stock opened the year at N20.40 and has since gained 22.3 percent, ranking 47th on the Nigerian Exchange in terms of year-to-date performance.
Data from African Stock Exchange, a market analytics platform, shows that Wema Bank is now the 24th most valuable listed company on the NGX, accounting for about 0.94 percent of total equity market capitalisation.
The rally follows a sharp improvement in the bank’s financial performance. Profit after tax more than doubled in 2025, rising 124 percent to N193.2 billion from N86.3 billion in the previous year, driven by higher interest income, loan growth, and stronger operating cash flows.
According to the bank’s unaudited financial statements for the year ended 31 December 2025, gross earnings climbed to N653.3 billion from N433.4 billion in 2024, reflecting higher yields on loans and investment securities amid Nigeria’s elevated interest rate environment.
Interest income rose to N577.1 billion from N354.6 billion a year earlier, supported by a significant expansion in loans and advances to customers. The bank’s loan book grew 45 percent to N1.75 trillion from N1.20 trillion in 2024, highlighting increased credit creation and balance sheet expansion.
Income from investment securities also increased during the period, pointing to active treasury management and positioning to benefit from higher yields in the fixed-income market.
Analysts say the improved earnings profile has strengthened investor sentiment around the stock, contributing to the recent share price rally. While broader market conditions remain sensitive to macroeconomic risks, Wema Bank’s performance suggests that select tier-two lenders are gaining traction with investors seeking growth and yield within Nigeria’s banking sector.