Wema Bank hits ₦1 trillion value as investors turn to smaller banks

Wema Bank is now valued at ₦1 trillion, placing it in a small group of companies on the Nigerian Exchange that have reached that level.

This is not just about bragging rights. It shows something bigger happening in the market: investors are no longer focusing only on the biggest lenders. Many are now moving money into tier 2 banks that are posting faster profit growth and showing strong momentum.

The move became clear at the close of trading on Tuesday, February 3. Wema’s share price rose to ₦24.95, up from ₦23.95 the day before, a 4.2% gain in one session.

The stock has also climbed sharply since the start of the year. It opened 2026 at ₦20.40, and with the current price, it is up 22.3% year to date. That performance places it 47th on the NGX so far this year, based on year-to-date ranking in the report.

So why are buyers showing up now?

The simple answer is earnings. The bank’s profit after tax reportedly more than doubled in 2025, jumping 124% to ₦193.2 billion, from ₦86.3 billion in the previous year.

The reasons given are the kind investors like to hear: higher interest income, stronger loan growth, and better operating cash flow. In plain English, the bank is making more money from its core business, and the market is paying more for that growth.

Still, ₦1 trillion does not mean Wema is suddenly one of the very biggest stocks in Nigeria. One market estimate puts it as the 24th most valuable stock on the NGX, and at about 0.94% of the total equity market. That is not top-five territory, but it is big enough that people who ignored the stock before will now pay attention.