Wegagen Bank has become the third private bank in the industry to gross a billion birr profit before tax following Awash and Dashen banks. Wegagen profited 1.05 billion birr before tax.
As announced in its general assembly that was held today, the bank announced its profit for the fiscal year 207/18 during which it was disclosed that the profit surged by 49 percent from the prior fiscal year. The bank profited 705.6 million birr in the 2016/17 fiscal year.
Having stayed in the banking business for more than 20 years, Wegagen has now joined the elite-billion-birr-profit-club which also includes Dashen and Awash.