May 13, 2020

By InvestAdvocate

Lagos (INVESTADVOCATE)-Nigeria’s mid-tier lender, Wema Bank Plc on Wednesday said its profit after tax (PAT) for the period ended March 31, 2020 declined 14.6 percent to N977 million from N1.14 billion declared a year ago.

Similarly, profit before tax (PBT) decreased 16.1 percent to N1.13 billion from N1.33 billion posted the same period of 2019.

However, gross earnings grew from N19.85 billion in the Q1 of 2019 to N20.77 billion in the review period of 2020; showing a growth of 4.6 percent, the mid-tier lender said in a filing with the Nigerian Stock Exchange (NSE).