By InvestAdvocate

Lagos (INVESTADVOCATE)-Nigeria’s mid-tier lender, Wema Bank Plc said on Wednesday its pretax profit for the period ended December 31, 2017 declined 7.3 percent to N3.0 billion from N3.24 billion reported a year ago.

Similarly profit after tax (PAT) depreciated by 11.9 percent to N2.25 billion from N2.56 billion recorded the same period of 2016.

Gross earnings of the mid-tier lender grew from N53.94 billion in 2016 audited year end to N65.26 billion in 2017 end; representing a growth of 21.0 percent, Wema Bank said in a filing with the Nigerian Stock Exchange (NSE).