Nigeria’s Wema Bank sees first-half profit up 266%

LAGOS (Reuters) – Nigeria's Wema Bank said on Thursday that its half-year pretax profit was 1.7 billion naira ($10.5 million) – up 266 percent from 464.7 million naira in the same period last year.

Gross earnings rose to 12.5 billion naira during the six months to June 30, against 10 billion naira a year earlier, the regional bank said in a filing with the Nigerian Stock Exchange.

Shares in Wema were up 4.12 percent at 1.01 naira at 1041 GMT.

($1 = 161.7600 Nigerian Nairas)