The NGX All -Share Index and Market Capitalization appreciated by 6.16% to close the week at 182,313.08 and N117.027 trillion respectively.
Naira Assets seem to be doing better than Low interest dollar holdings. The Fed Government has just announced that the External Reserve has risen to USD 49 billion, the highest in the last eight years. An interplay of reduction in inflation rate , moderation in CPI and potentially higher returns on Treasury bills played out creating liquidity glut in the T-Bill market,with the 364 day bill ended at a stop rate of 20% yield.
The subscription level attracted N4.39 trillion, even though The CBN allotted N808 .78 billion for the tenor. It is anticipated that returns will slide significantly later in the year as the level of liquidity in the system increases that is usually associated with “ELECTION YEAR”.
This provides opportunity for alternative investments which Stocks provide.
In addition Pencom’s decision to raise equity investment limits for Pension Fund Administrators ( PFAs) also triggered buying of medium- and large- cap stocks lifting liquidity to record levels.
The above narrative is to provide some context into the current situation and performance in the Nigeria Exchange Ltd (NGX).
Banking Sector Review
Trading activities in the banking sector in the week ended 13th February, 2026 on a bullish note as the sector gained 5.84% in market value.
Wema bank continued the bullish run as investors sentiments in the week under review was bullish with the share price closing the week by 4.0% gain to close at N26.00. Although,there was a 30.68 % drop in Volume from 82,657,967 units to 57,295,115 in the week under review.
A further look at the closing prices of peers in the Tier 2 market on NGX revealed the under listed closing prices.
FCMB N11.25
FIDELITY N20.9
STANBIC N111.7
STERLING N7.95
WEMA N26.00
Others like Union and Unity banks are undergoing some regulatory restructuring.
We are convinced beyond doubt that the performance of Wema is hinged on strong fundamentals as demonstrated below in a short report on the unaudited figures of the bank as at December, 2025:
Wema bank plc ended 2025 with its after tax profit rising by 124% to N193.2 billion from N86.3 billion in the previous year, driven by growth in interest income, an expanding loan book and stronger operating cash flows.
According to the bank’s unaudited financial statement for the year ended December 31,2025 , the gross earnings rose to about N653.3 billion, compared with N433.4 billion in 2024.
Interest income rose to N577.1 billion from N354.6 billion in 2024.
Concomitantly , interest expense rose to N217.0 billion from N177.6 billion, largely due to high costs on customer deposits and borrowings, net interest income still more than doubled to N360.1 billion up from N177.1 billion in the previous year.
Quite an impressive result as Shareholders’ equity more than doubled to N621.7 billion from N256.4 billion.
Return on equity (ROE) improved significantly to about 31%, compared with roughly 34% previously on a much smaller equity base, while earnings per share rose to 708 Kobo from 483 kobo in 2024.
In addition Wema Bank hits trillion – naira market cap for the first time at the close of trade on Tuesday, February 3 to close at N24.95 since listing in a record feat being one of Nigeria’s oldest lenders, following other banks like Ecobank, Fidelity and Stanbic IBTC which had previously reached the milestone.
With this impressive performance, Wema Bank has been extending its bullish trajectory delivering a 4.00% weekly gain and bringing its YTD appreciation to 26.55% materially outperforming the sector index which stands at 17.28% YTD.
Wema Bank is currently the 24th most valuable stock on the NGX.
Despite this impressive performance, the market will be sustained with liquidity , though mild pull backs are possible from profit taking usually.
The major resistance level is now N26.00 but we see the price at around N30.00 to coincide with the official release and approval by CBN of the AFS very soon.
RECOMMENDATION- Buy & Hold
Tunde Sobamowo
FINANCIAL ADVISOR
Global Asset Management (Nig.) Limited.
https://globalasset-ng.com
DISCLAIMER: Not Financial Advice, Only for Research Purposes. Kindly consult your accountant or stockbroker for guidance.
Wema-Bank-Share-Price-Weekly-Research-Report-13th-February-2026
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