BRIEF: Wema Bank profit fell by 7.3% in 2017

BRIEF: Wema Bank profit fell by 7.3% in 2017

Mid-tier Nigerian lender, Wema Bank said it made a pretax profit of N3.01 billion for the full financial year of 2017.

The result showed that the bank’s fundamentals weakened further because it posted a pretax profit of N3.25 billion.

This is an indication that its profit fell by 7.3% on a year on year basis.

Net interest income for Wema Bank rose to N19.77 billion compared to N18.65 billion in 2016.