If it comes to formatting text and images in all the nice and various ways you can imagine the webview is unparalleled. You can go into the deep dark pit called CoreText to make text look awesome, however handling images and the flow of text around those will be alot of work.
HTML in combination with CSS will give you a highly flexible and maintainable basis to display text in combination with images.
In your sqlite you'll likely save your text as html and style it with css. You can add the images to your bundle and reference those from your webviews.
EDIT:
You may also save the text in your db in any structure you like: articles, paragraphs, elements whatever you imageine. Create your own small html processor which glues all the pieces and transfer it into a nice html resource which you load with your webview.
Some links to get you started with the webview and your images: