Wegagen Bank reported record revenue of 13.5 billion birr in the 2024/25 fiscal year, lifting earnings per share to 46.10 birr, the bank announced. Pre-tax profit surged 73% to 3.85 billion birr compared with the previous year, marking its strongest performance to date.

At the 32nd annual shareholders meeting in Addis Ababa, board chairman Abdisu Hussein said total capital expanded 39% to 12.8 billion birr, while paid-up capital rose 37% to 7 billion birr, comfortably above regulatory requirements. Total assets climbed 29% to 84.7 billion birr.

Lending activity increased 18% to 53.5 billion birr, with digital loan programmes aimed at youth and women widening access to finance. As of June 30, the bank employed 5,553 staff and operated 455 branches, supported by 398 ATMs, 467 payment terminals, and 1,716 agent banking outlets.

Dr Aklilu Wubet, chief executive of the bank said the bank had combined financial growth with social impact, allocating 30 million birr to community development projects targeting low-income areas.

Wegagen Bank also strengthened international partnerships with the International Finance Corporation, Visa, Africa Export-Import Bank, Commerzbank, and Citibank, underlining its strategy to diversify revenue sources, invest in technology, expand digital services, and enhance human capital for sustainable growth.