Wema Bank generated ₦7.14 billion from its electronic banking products in the first half of 2026, highlighting the increasing importance of digital banking in generating revenue for Nigerian lenders. Wema Bank cuts technology spending despite high digital incomeWema Bank has made significant strides in managing its expenses, especially when it comes to supporting its digital infrastructure. For Wema Bank, which was a pioneer of fully digital banking in Nigeria with its ALAT platform, these latest results highlight that digital banking is central to their strategy. Although electronic banking income has cooled from last year’s peak, the bank continues to see billions generated through its digital channels. This reinforces the critical role technology plays in how Wema Bank earns beyond just loans and interest income.