Addis Ababa – Wegagen Bank has delivered its strongest financial performance to date, reporting a record-breaking revenue of Birr 13.5 billion for the 2024/25 Ethiopian fiscal year (2017 E.C.), representing a 38% year-on-year growth. Pre-tax profits surged 73% to Birr 3.85 billion, as the bank marked a turning point not just in numbers but in strategic direction — embracing fintech, inclusive banking, and capital market leadership.
This performance was announced at Wegagen’s 32nd Annual General Meeting (AGM), where Board Chairman Abdishu Hussein outlined the bank’s transformative year across financial strength, digital innovation, and market leadership.
Key Financial Highlights
Wegagen’s headline figures mark a remarkable turnaround amid Ethiopia’s volatile macroeconomic climate — defined by forex shortages, inflationary pressures, and financial sector liberalization. The key metrics:
- Total Revenue: ብር 13.5 billion (+38% YoY)
- Pre-Tax Profit: ብር 3.85 billion (+73% YoY)
- Earnings Per Share (EPS): 46.10%
- Total Assets: ብር 84.7 billion
- Total Deposits: ብር 66.5 billion
- Paid-up Capital: ብር 7 billion
No Comment Found.