Wema Bank Plc posts ₦1.81 billion profit after tax for 2018 half year

Wema Bank Plc has released its H1 2018 financial statements for the year ended 30 June 2018.

Here are the key highlights of the reports:

Revenue

The bank reported net interest income of ₦9.09 billion for the period ended June 2018 compared to ₦8.48 billion reported for the period ended June 2017. This represents a 7% increase for the comparative period in 2017.

Profit Before Tax

Profit before tax was ₦1.81 billion for the period ended June 2018, a 27% increase from ₦1.43 billion reported for the period ended June 2018.

Profit After Tax

The company’s profit after tax for the half year ended 30th June 2018 was ₦1.57 billion as against ₦1.22 billion recorded in H1 2017.

Earnings Per Share

Wema Bank Plc, however, reported 8 kobo for the period ended June 2018 compared to profit of 6 kobo reported for the comparative period in 2017.

Current Share Price

Wema Bank Plc closed trading today at ₦0.69, with a 1-year return of 25.45%.

DOWNLOAD WEMA BANK PLC Q1 2018 RESULTS

SOURCE: NAIRAMETRICS