Who We Are
Wegagen Bank S.C was established on June 11, 1997. It came into being thanks to 16 visionary founding members who recognized the critical role that financial institutions would play to create a sustainable economic development and raised an initial capital of Birr 30 million. As at June 30, 2016, the paid up capital of the Bank reached Birr 1.8 billion. The number of Shareholders is now 2,349.
“To be one of the ten most reputable and competent banks in Africa by the year 2025.”.
Our Mission is to:-
- Optimize the stockholder value through sustainabl growth and profitability.
- Provide wide range of innovative and customer focused Banking products and services.
- Boost operational excellence by employing state-of-the-art information technology.
- Be the employer of choice by creating conducive working environment wherein employees achieve their career aspirations.
- Honesty, Integrity and Loyalty: We are fair, transparent, and honest. By being sincere and consistent in our behavior, we are accountable and transparent in our actions, thereby delivering our promises.
- Service Excellence: We strive for excellence and quality in everything we do. We are committed to satisfy our customers by providing timely, responsive and proactive services.
- Professionalism: Our customers will be served by competent and highly trained employees providing professional, courteous and friendly service. We are hardworking, committed, efficient and responsible.
- Learning and Innovation: We encourage learning, initiatives and new ideas, recognize people for their creativity, and challenge existing practices, as well as seek and identify improvements. We enhance team sprit; share our expertise, ideas, information and knowledge to achieve our common goals.
- Employee Satisfaction: We consider our employees as valuable organizational resources
- Respect and Dignity: We respect and value those we work with, and the contribution that they make. We act fairly, ethically and openly in all we do.
- Social Responsiveness: We do everything we can to contribute to the community we work in. As a good corporate citizen, we actively participate in deserving social activities.
- Good Corporate Governance: We comply with laws, rules, regulations of the country and international laws.
- Equal Employment Opportunity: We provide equal employment opportunity for all irrespective of their origin, ethnicity, religion, disability, gender, etc.
- Maximizing profitability through increased efficiency
- Enhance growing market share
- Expanding the bank’s capital base
- Ensuring excellence in customer services
- Provide differentiated, varied and value added banking services
- Accept different types of deposits,
- Grant varieties of loan facilities,
- Offer full-fledged international banking services,
- Render local and international money transfer services and
- Payment Card services through ATM and POS network.
Wegagen Bank has a network of 206 branches of which 81 are in Addis Ababa and the remaining 125 are located in regional cities and towns of the country. To expand its service coverage, the Bank keeps on opening additional branches both in Addis Ababa and regional towns.
ICT (Information & Communication Technology)
Wegagen Bank is a pioneer to introduce a Core Banking System as of July 2000, thereby managing to network the Head Office & all branches. Through its versatile ISO Standard Core Banking System, the Bank is now delivering more efficient services to its customers.
The system has also enabled the Bank to provide technology-based banking services such as Card payment services (through ATM & POS), internet banking as well as mobile banking services.
Wegagen Bank is governed by the Board of Directors consisting of a Chairperson, a Vice Chairperson and seven Directors. The overall management is entrusted to the management team which comprises the President/Chief Executive Officer, who is appointed by the Board of Directors, four Vice-Presidents and sixteen Directors as well as Manager of Engineering Service.
As at March 31, 2016, the number of employees of the Bank stood at 3,726, of which, 1,720 are holding first and second degrees, 343 are diploma holders while the remaining 1,663 attended different levels of education and high school.