Wema Bank Shrinks as 20% EPS Slump Stokes Sell Pressure
Tier-2 lender Wema Bank Plc shrank in market value as investors bet against the financial services company’s weak earnings per share delivered in the first half of 2026.
The bank breached N30 per share support as investors exited positions after the Nigerian Tier-2 lender released its earnings scorecard for the half-year last week.
Trading data from the Nigerian Exchange (NGX) showed that Wema Bank share price declined to N29 at the close of the session on Friday, with about N155 million in transaction value.
NGX data revealed strong trading volume led by sell-side investors, dragging the bank’s share price lower from a 7-day peak of N32. Investors reacted negatively to Wema Bank’s weak earnings per share released on July 29, which reflected an expanded shareholding base.
Wema Bank’s share price has been falling since the results were announced. In the first half, the bank reported about a 20% year-on-year decline in EPS, which settled at 654.92 kobo from 816.73 kobo in the equivalent period in 2025.
The bank reported that its profit after tax increased to N131.73 billion, up by 50.52% year on year from N87.513 billion in H1 2025. The bank’s profitability was supported by strong topline performance, driven by core and non-core earnings performance.
Its net interest income line climbed to N194.448 billion at the end of the first half, up by more than 50% from N129.217 billion in the equivalent period in 2025.
Hence, the market value of Wema Bank Plc’s 40.118 billion outstanding shares in the stock market declined to N1.163 trillion, more than 19% below its 52-week high. AVA Capital’s NGX Debut Opens New Investment Window, Market Eyes Thin Free Float
