Wegagen Bank S.C held its 32nd Ordinary Shareholders’ General Assembly on October 7, 2025, at the Hilton Hotel in Addis Ababa, where the Bank presented its financial results for the 2024/25 fiscal year.
Board Chairperson Ato Abdishu Hussein reported that the Bank’s total income rose by 38% to Birr 13.5 billion, while profit before tax increased by 73% to Birr 3.85 billion compared to the previous fiscal year. Earnings per share stood at 46.1%, supported by growth across key financial indicators.
The Chairperson noted that the Bank’s total assets reached Birr 84.7 billion, reflecting a 29% increase, while total deposits grew by 28% to Birr 66.5 billion. Outstanding loans and advances amounted to Birr 53.5 billion, up 18% year-on-year.
Wegagen’s paid-up capital increased by 37% to Birr 7 billion, and total capital rose to Birr 12.8 billion, exceeding the minimum capital threshold set by the National Bank of Ethiopia. The Bank’s shareholder base also expanded, reaching 14,871 members as of June 30, 2025.
In line with its commitment to financial inclusion, Wegagen introduced digital lending products targeting young entrepreneurs and women. The Bank was ranked second among private banks by the National Bank of Ethiopia for women-focused financial services.
As of June 2025, Wegagen Bank operated 455 branches nationwide, employing 5,553 people. The Bank also allocated Birr 30 million toward social and community development initiatives and continues to integrate Environmental, Social, and Governance (ESG) practices into its operations.
Chief Executive Officer Dr. Aklilu Wubet highlighted the Bank’s strategic milestones during the year, including becoming the first company listed on the Ethiopian Securities Exchange and establishing Wegagen Capital Investment Bank, the country’s first private investment bank.
Dr. Aklilu added that the Bank has expanded partnerships with global institutions such as the International Finance Corporation (IFC), Afreximbank, VISA, Commerzbank, and Citibank. He emphasized that the focus going forward will be on strengthening capital, expanding digital services, and diversifying income sources to support sustainable growth.
Source (including image): A press release sent to 2Merkato from Wegagen Bank
