By Peter Egwuatu

A frontline money deposit bank, Wema Bank PLC, has targeted an ambitious gross earnings of N789 billion in 2025 despite the ongoing macroeconomic vagaries in the Nigerian operating environment.

The target, if realized, will lift up the bank’s gross earnings from N432 billion it made in 2024. The bank has also projected total assets of N5,497 billion in 2025, up from N3,585 billion in 2024, and total deposits of N3,950 billion in 2025, up from N2,524 billion in 2024.

As part of the strategy to achieve its targets, the financial institution has prioritized investment in IT, with a sum of N5.554 billion staked in 2024, compared to N1.422 billion in 2023, which enabled its digital strategy to grow retail and corporate deposits, occasioned by growth in customer activities.

During an Investors’ Forum, organized as part of public enlightenment on its ongoing N200bn Rights Issue and Private Placement, Bunmi Oladosu, the Chief Financial Officer (CFO) of the bank, assured that “With a strengthened capital base, robust asset growth, and focused investments in technology and partnerships, the bank is well-positioned to meet new regulatory requirements and sustain its growth trajectory in 2025.” He said, “The bank plans to build on the strong fundamentals it recorded in 2024, which were driven by improved yields on earning assets, a diversified income base, strong customer acquisition, and disciplined execution of its strategic roadmap.”

Wema Bank is currently in Phase Five (2024-2026) of its strategic plan to become a Systemically Important Bank (SIB) in Nigeria’s financial landscape, with a target of over N3.5 trillion in assets. The Bank’s management explained further that it will deploy the raised funds efficiently to fuel sustainable growth, with a focus on deepening value creation for shareholders, customers, and broader stakeholders, while fortifying its balance sheet across all key performance indicators.

Oladosu added that for the remainder of 2025, the bank will focus on driving growth through expanding high-quality loans in the corporate and commercial sectors to further enhance interest income, accelerate deposit mobilization to drive growth through retail, SME, and corporate accounts, while leveraging ALAT and agency banking to penetrate new markets. According to him, other areas of focus include increasing the pace of customer acquisition, optimizing the deposit mix, boosting transaction velocity, and strengthening brand visibility both with customers and within the broader industry, and achieving our full-year 2025 financial and operational targets.