Wema Bank declares N1.49bn profit in HY’20

Wema Bank Plc for the first half of 2020 reported gross earnings of N38.15 billion, down by 6.57% from N40.84 billion reported in HY’19.

Profit after tax (PAT) dropped by 33.53% to N1.49 billion from PAT of N2.25 billion declared in H1’19.

Earnings per share (EPS) for the period under review is evaluated as 4 kobo, down by 33.53% from the previous EPS of 6 kobo in H1’19.

At the current share price of 52 kobo, P.E ratio is calculated as 13.42x with earnings yield of 7.45