Wema Bank generated ₦7.14 billion from its electronic banking products in the first half of 2026. This shows how central digital banking has become for Nigerian lenders. But the numbers also tell a more complicated story.
Electronic banking income actually dropped compared to last year. In H1 2025, the bank earned ₦20.93 billion from this segment. So digital income fell by nearly two-thirds year on year, according to Tech Next 24.
Still, electronic banking remained one of Wema Bank’s biggest earners. In fact, it ranked as the second-largest fee-generating business. Only management fees earned more, bringing in ₦10.76 billion over the six months.
Other fee categories added to the total. Account maintenance fees brought in ₦7.07 billion. Meanwhile, credit-related fees added ₦2.88 billion, foreign exchange fees contributed ₦3.77 billion, and other charges totalled ₦3.04 billion.
Altogether, Wema Bank’s fee and commission income reached ₦36.09 billion for the period. Electronic banking alone made up nearly 20 percent of that total. And this money came entirely from outside the bank’s traditional lending business.
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For everyday customers, this is simply the cost of convenience. Every transfer on the ALAT app, every online bill payment, every card swipe, and every USSD transaction adds to this figure. Clearly, banking has moved far beyond the banking hall and onto the phone.
This digital income arrives alongside a strong overall performance. Wema Bank posted a profit after tax of ₦131.37 billion for the first half of 2026. That is a sharp rise from ₦87.51 billion in the same period last year.
Interest income also surged. Gross interest income climbed to ₦342.64 billion, up from ₦240.12 billion in H1 2025. At the same time, total assets grew to ₦5.76 trillion as of June 30, up from ₦5.07 trillion at the end of December 2025.
These results come at a good time for Wema Bank’s digital reputation. Recently, the lender was named Nigeria’s Best Digital Bank for Consumers 2026 by Euromoney. The award recognised its ALAT platform and its investment in features like voice banking, tap-to-pay, and AI-powered fraud monitoring.
Overall, the numbers paint a clear picture. Wema Bank still leans heavily on digital channels for income, even though the electronic banking fee line cooled off from last year’s highs. However, strong lending and interest income helped balance things out. As a result, the bank’s overall books look stronger than the digital fee figures alone suggest.
