Wema grows H1 PAT by 10.62%

Briefs:

Wema Bank Plc has declared a 10.62 percent increase in its profit after tax (PAT) for the first half (H1) or six months period ended June 30, 2016. The bank posted N1.10 billion in contrast to N997.21 million realised in the same period of 2015.

In the same vein, profit before tax (PBT) of the bank also increased by 10.62 percent to N1.3 billion from N1.2 billion posted in the corresponding period of 2015.

Gross earnings of the bank appreciated by 16.3 percent to N24.3 billion from N20.9 billion, while interest income increased by N2.7 billion or 15.2 percent to N20.2 billion from N17.5 billion declared in 2015. Income realised from fees and commission witnessed an increase of 42.3 percent, from N2.2 billion to N3.1 billion, while net trading income grew by 5.2 percent to N695.6 million for the first six months of 2016.