Addis Ababa, November 10, 2016- Wegagen Bank announced that it earned a gross profit of Birr 478.5 million in the 2015/16 Fiscal Year ended June 30, 2016.
The Bank announced this achievement in the audited annual report unveiled at the 23nd Ordinary Shareholders’ Meeting held at Hilton Addis Ababa on November 10, 2016.
Bank President/CEO Ato Araya G/Egziabher said on the occasion that the Bank earned a net profit of Birr 375.6 million in 2015/16 Fiscal Year after paying a profit tax of Birr 102.9 million. The net profit showed a growth of 6.6 percent as compared to 2014/15 Fiscal Year, and a 92% achievement of plan target, the President said.
Wegagen Bank awarded its customers engaged in export business for their immense contribution to the growth of the Bank including International Money Transfer Companies and other businesses which significantly contributed in foreign currency earning through inward swift remittance in 2015/16 Fiscal year.
At a ceremony held at Elilly International Hotel on September 29, 2016, Chair Person of the Bank’s Board of Directors Ato Teferi Zewdu and the CEO Ato Araya G/Egziabher presented certificates and awards to these customers in recognition of their unreserved contribution to the growth of the Bank.
Speaking on the occasion, Ato Araya G/Egziabher said that Wegagen Bank has been delivering efficient international banking services to its customers in export business and significantly contributed to the growth of the sector.
Wegagen Bank and Shoa Shopping Center, the largest super market network in Ethiopia, launched three Co-Branded Shopping Cards today in an event held at Shoa Hypermarket located at Zefmesh Grand mall around Megenagna interchange. The three shopping cards, Shoa Prepaid, Shoa Gift and Shoa Loyalty cards were unveiled by the heads of the three parties involved in the development and issuance; Ato Alexander G/Egziabher, E-Banking Services Director of Wegagen Bank, Ato Kemil Mama, Manager of Shoa Shopping Center San Branch and Ato Samson Getu, Vice President of FinServ Technology Services Plc. The launching ceremony was attended by officials of the three companies as well as invited guests and press corps.
Shoa Shopping Cards enable customers enjoy a wide range of benefits; from convenience in planning for shopping to strengthening friendship through flexible gift and rewarding loyalty with points earned for every purchase made. Customers will have a safe, simple and flexible shopping facility with the brand new reusable smart cards, branded as Shoa Prepaid, with which customers can shop at any of Shoa supermarkets, while thy can top it up at any of Shoa stores and Wegagen’s over 60 branches across Addis. The facility will have a great deal of significance in bringing intimate services to customers of shoa Supermarkets.
Wegagen Bank announced that it earned a gross profit of Birr 452.5 million in the 2014/15 Fiscal Year ended June 30, 2015.
The Bank announced this achievement in the audited annual report unveiled at the 22nd Ordinary Shareholders’ Meeting held at Hilton Addis Ababa on November 5, 2015.
Bank President/CEO Ato Araya G/Egziabher said on the occasion that the Bank earned a net profit of Birr 352.4 million in 2014/15 Fiscal Year after paying a profit tax of over 100 million. The net profit showed an increase of 11 percent as compared to 2013/14 Fiscal Year, the President said.
Wegagen Bank honored and awarded customers engaged in export business and money transfer companies that generated significant amount of foreign currency in the 2014/15 Fiscal Year.
On the event organized at Capital Hotel and Spa on October 1, 2015, the Bank’s Board of Directors and Executive Managers awarded certificates and special prizes to outstanding customers of export business and money transfer companies.