Wema Bank stock falls 0.48 percent as CEO buys stake

Published on 10/04/2026 at 11:43 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Wema Bank stock is backed by H1 2026 profit of NGN 131.37 billion, up 50.1 percent year over year. One analyst sets a NGN 38.84 target.

WEMABANK, NGWEMABANK07, Illustration mit AI erstellt.

Wema Bank (NGWEMABANK07) stock closed at NGN 31.35 on the Nigerian Exchange on October 2, 2026, down 0.48 percent on volume of 1,872,410 shares. The latest company-linked catalyst is a disclosed insider purchase, with CEO Moruf Oseni acquiring 3,088,288 shares for NGN 98.67 million in transactions on September 23 and September 24, as Businessday reported on October 3, 2026.

CEO buys as profits accelerate

The purchase followed Wema Bank's unaudited H1 2026 results, which showed profit after tax of NGN 131.37 billion, up 50.1 percent from NGN 87.51 billion in H1 2025. Profit before tax reached NGN 154.56 billion, a 53.7 percent increase from the prior-year period, according to Businessday.

THISDAYLIVE reported on September 21, 2026, that net interest income rose 51.26 percent to NGN 195.45 billion in H1 2026 from NGN 129.218 billion in H1 2025. Interest income increased 43 percent to NGN 342.64 billion, making lending and asset yields the central earnings drivers.

Loan growth outpaces deposits

Net loans and advances grew 21.7 percent to NGN 2.12 trillion in H1 2026, while customer deposits reached NGN 3.45 trillion, according to Businessday. The gap between loan and deposit growth puts funding costs alongside credit quality on the investor checklist, even as the non-performing loan ratio improved to 3.87 percent from 4.90 percent at the end of 2025.

One analyst targets NGN 38.84

The consensus page at Investing.com listed a Strong Buy view from 1 analyst and an average, high and low 12-month target of NGN 38.84 on September 7, 2026. That target lies 23.9 percent above the NGN 31.35 reference price, giving the earnings story a specific valuation test rather than a purely qualitative signal.

Wema Bank stock ends at NGN 31.35

Wema Bank stock closed at NGN 31.35 on the NGX on October 2, 2026, with 560 trades and a daily value of NGN 58.81 million. The combination of rising profit, faster loan growth than deposits and a disclosed CEO purchase leaves balance-sheet funding and interest-rate sensitivity as the key factors for the next results cycle.