Wegagen Bank S.C

Telephone: +251 115 523800
Fax: +251 115 52 35 20wegagen_logo
Address: Dembel City Center
P.O.Box:
Swift Code: WEGAETAA
Email: info@wegagenbanksc.com
Web Site: www.wegagenbank.com.et
Established Date: 1997 E.C.
Number of Branches:98

Establishment

Wegagen Bank is a privately owned share company which started operations on June 11, 1997 with a subscribed capital of Birr 60 million and a paid up – capital of Birr 30 million. The number of shareholders reached 2,262 while the total capital (including paid-up capital, share premium and legal reserves) reached over Birr 2.3 Billion as at March 31, 2015.

Vision

“Becoming the most preferred Bank in Ethiopia”.

Mission Statement

“To provide a wide range of quality banking services through a dynamic workforce and up-to-date IT solutions to satisfy the desires of all stakeholders”.

Principles and Values

  • Outstanding customer services,
  • Business integrity, honesty and loyalty,
  • Effective, efficient and expanding operations,
  • Strong capital and liquidity position,
  • Prudent lending,
  • Reasonable cost control discipline,
  • Fair & objective employment practices,
  • Play a responsible role in aligning objectives with those of the local communities, and
  • Commitment to comply with the spirit and letter of the Law.

Main Objectives

  • 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

Major 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.

Branch Network

Wegagen Bank has a network of 116 branches of which 54 are in Addis Ababa and the remaining 62 are located in other 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.
Corporate Governance

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, 2015, the number of employees of the Bank stood at 2,951, of which 987 are diploma holders, 1,067 are holding first and second degrees, while the remaining 897attended high school and different levels of education.

 

 

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