By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Nigeria’s mid tier lender, Wema Bank Plc said on Tuesday its first quarter 2015 pretax profit inched up slightly by 4.2 percent to N615.28 million from N590.74 million in the same period of 2014.

Similarly, profit after tax (PAT) appreciated with the same margin of 4.2 percent to N522.99 million from N502.13 million in the corresponding period of 2014.

Interest income increased from N8.30 billion in the first quarter of 2014 to N8.92 billion in the review period of 2015; indicating an increase of 7.5 percent, the bank said i a filing with the Nigerian Stock Exchange (NSE).

At the close of business today on the Nigerian bourse, share price of Wema Bank dropped 4.04 percent to 0.95 kobo from 0.99 kobo; losing 0.04 kobo.