Wegagen Bank S.C.

About Wegagen Bank

Establishment

Wegagen Bank S.C was established on June 11, 1997. It came to life as a result of the entrepreneurial wit of sixteen founding members who recognized the critical role that financial institutions would play towards creating sustained economic development. These visionary individuals put in an initial paid-in capital of Birr thirty million (Birr 30 Million). The Bank was registered with the National Bank of Ethiopia on April 30, 1997, under the banking proclamation of Licensing and Supervision, Proclamation No. 84/1994. The Memorandum and Articles of Association of the Bank were signed on April 15th, 1997, and registered with the Addis Ababa Bureau of Trade, Industry, and Tourism (Registration Number 1/34/4/89).

Vision

“Aspiring to be a champion of excellence in banking business in Ethiopia.”

Mission

“Maximize stakeholders’ value by providing diversified banking services through competent and motivated employees and up-to-date technology.”

Our Values

• Integrity:
  • We do the right thing, even when no one is watching.
  • We keep our word and honor our commitments.
  • We maintain confidentiality and privacy of all stakeholders.
• Responsiveness:
  • We provide prompt and convenient customer service.
• Teamwork:
  • We collaborate and work collectively to meet our common goals.
  • We promote and support a diverse, yet unified team.
• Innovation:
  • We adapt and respond rapidly to changes.
  • We encourage creativity and new ideas.

Branch Network

Wegagen Bank has a network of 402 branches, with 144 located in Addis Ababa and the remaining 258 spread across other cities and towns in Ethiopia. To expand its service coverage, the Bank continues to open additional branches both in Addis Ababa and regional towns.

ICT (Information & Communication Technology)

Wegagen Bank is a pioneer in introducing a Core Banking System since July 2000. Through its versatile ISO Standard Core Banking System, the Bank efficiently manages its Head Office and all branches, delivering more efficient services to its customers1.