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Wegagen Bank Achieves Record Revenue of 13.5 Billion Birr in 2024/25 Fiscal Year

Wegagen Bank S.C. has reported its highest-ever financial performance for the 2024/25 fiscal year, recording a total revenue of 13.5 billion Birr, marking a 38% increase compared to the previous year. The announcement was made during the Bank’s 32nd Annual General Meeting (AGM) held at the Addis Ababa Hilton Hotel.

According to Ato Abdishu Hussein, Chairman of the Board of Directors, the Bank also achieved a record pre-tax profit of 3.85 billion Birr, showing a strong 73% growth from the previous fiscal year. As a result, earnings per share rose to 46.10%, demonstrating strong shareholder returns and financial resilience despite global and national challenges.

Wegagen Bank’s total assets reached 84.7 billion Birr, a 29% increase from the previous year, while total capital grew by 39% to 12.8 billion Birr. The Bank’s paid-up capital also rose by 37%, reaching 7 billion Birr, surpassing the minimum capital requirement set by the National Bank of Ethiopia (NBE).
The number of shareholders increased to 14,871 by the end of the fiscal year, reflecting growing investor confidence in the Bank’s performance and governance.

In terms of operations, the Bank’s customer deposits grew by 28% to 66.5 billion Birr, while loans to key economic sectors increased by 18%. Wegagen Bank also expanded its digital financial services, offering digital loans that supported young entrepreneurs and women, strengthening its position as one of Ethiopia’s most inclusive financial institutions.
According to an NBE assessment, Wegagen Bank ranked second out of 30 private banks in promoting financial inclusion and gender equity in banking services.

By June 30, 2025, Wegagen Bank’s workforce had grown to 5,553 employees, creating jobs across Ethiopia. The Bank also contributed 30 million Birr to charitable and development projects, reaffirming its commitment to corporate social responsibility and community development.

In his statement, Ato Abdishu highlighted the Bank’s move toward sustainable finance, integrating environmental, social, and governance (ESG) principles into its daily operations and establishing a dedicated department for sustainability.

Dr. Aklilu Ashe, CEO of Wegagen Bank, emphasized that the fiscal year marked a major milestone in the Bank’s history. He noted that Wegagen became the first private bank to register on the Ethiopian Securities Market and launched Wegagen Capital, the country’s first private investment bank, playing a key role in the growth of Ethiopia’s emerging capital market.

As of mid-2025, Wegagen Bank serves customers through 455 branches nationwide, offering interest-free and conventional banking services. The Bank also operates 398 ATMs, 467 Point-of-Sale (POS) machines, and 1,716 Agent Banking outlets, providing convenient Internet, Mobile, Card, and Agent Banking services across the country.

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Wegagen Bank Achieves Record Revenue of 13.5 Billion Birr in 2024/25 Fiscal Year

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