Wegagen Bank announced it has bagged a gross profit of 478.5 million Birr, which is 375.6 million Birr after tax, in the last fiscal year. The bank’s profit shows an increase of 26 million Birr when compared to its performance in 2014/2015.

The bank’s legal reserve on the other hand has reached 94 million Birr. Yet the bank’s earnings per share has gone slightly down. The earnings per share for the 2015/2016 year is 222 Birr for a 1,000 Birr share while it was 244 for the previous year.

Wegagen’s assets also grew significantly and reached 16 billion Birr from 13.7 billion Birr. Deposits also grew to 11 billion Birr from 1.2 billion Birr.

Source: Capital