WEMABANK Says H1 2017 Pretax Profit up 10.4%

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By InvestAdvocate

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Lagos (INVESTADVOCATE)-Nigeria’s mid-tier lender, Wema Bank Plc said on Tuesday its pretax profit for the half-year (H1) period ended June 30, 2017 jumped 10.4 percent to N1.43 billion from N1.29 billion reported a year ago.

Similarly profit after tax (PAT) appreciated by 10.5 percent to N1.21 billion from N1.10 billion recorded the same period of 2016.

Gross earnings of the mid-tier lender grew from N24.26 billion in 2016 H1 to N30.46 billion in corresponing period of 2017; representing a growth of 25.5 percent, Wema Bank said in a filing with the Nigerian Stock Exchange (NSE).