Wema Bank’s 2015 Profit slides 1.6%

By Chioma Obinagwam

Nigeria’s mid-tier lender, Wema Bank Plc said its Profit Before Tax(PBT) for the period ended December 31, 2015 declined by 1.6 per cent to N3.05 billion from the N3.09 billion reported a year earlier.

Similarly profit after tax (PAT) dropped marginally by 1.9 percent to N2.327 billion from N2.372 billion recorded the same period of 2014.

However, gross earnings of the mid-tier lender grew from N42.19 billion in 2014 audited year end to N45.87 billion in 2015 end; representing a growth of 8.7 per cent, Wema Bank disclosed this in a filing with the Nigerian Stock Exchange (NSE).