Business

Wegagen Bank’s Paid-up Capital Soars to Birr 10.1 Billion

AI SUMMARY

Wegagen Bank's paid-up capital increased by over 40 percent to reach Birr 10.1 billion during the 2025/26 fiscal year.

Wegagen Bank's paid-up capital increased by over 40 percent to reach Birr 10.1 billion during the 2025/26 fiscal year, up from Birr 7.0 billion.
Total equity grew by 35 percent to close the fiscal year at Birr 17.3 billion following a Birr 3.1 billion capital injection.
The bank's shareholder base expanded to 15,598 investors.
Total assets surged by 32 percent to exceed Birr 111.3 billion, and gross loans reached Birr 67.3 billion.
Net income recorded a 13.6 percent increase to Birr 3.15 billion, while basic and diluted earnings per share adjusted to 34.40 percent.
Return on Average Equity (ROAE) stood at 20.9 percent and Return on Average Assets (ROAA) at 3.2 percent.
Board Chairperson Abdishu Hussein and executive management are focusing on multi-year strategic plans, including digital platforms like the Efoyta lending ecosystem and ESG integration.