By InvestAdvocate

Lagos (INVESTADVOCATE)-Mid-tier lender, Wema Bank Plc said on Friday its pretax profit for the nine-month period ended September 30, 2016 declined 2.22 percent to N1.49 billion from N1.53 billion recorded a year ago.

Profit after tax (PAT) in the review period dropped 2.31 percent to N1.26 billion from N1.29 billion reported the same period of last year.

Gross earnings increased from N26.58 billion in the nine-month period of 2015 to N31.93 billion in the review period of 2016; indicating an increase of 19.2 percent, Wema Bank said in a filing with the Nigerian Stock Exchange (NSE).

Shares of the mid-tier lender at the close of the session on the Nigerian bourse appreciated 6.56 percent to 65 kobo per share from 61 kobo reported the previous session; gaining 0.04 kobo per share.

Click here to download Wema Bank Plc Unaudited IFRS Results for the quarter ended 30 September 2016