cbe

USD
53.5273
54.5978
,
GBP
62.6662
63.9195
,
EUR
58.516
59.6863
,
CHF
55.9713
57.0907
,
SEK
4.676
4.7695
,
NOK
4.834
4.9307
,
DKK
7.1135
7.2558
,
DJF
0.2974
0.3033
,
JPY
0.3771
0.3846
,
CAD
36.2863
37.012
,
SAR
12.909
13.1672
,
AED
13.1884
13.4522
,
XAF
0.012
0.0122
,
INR
,
KES
,
AUD
34.2099
34.8941
,
SDR
,
ZAR
,
CNY
7.1867
7.3304
,
KWD
167.5769
170.9284

awash

abyssinia

USD
53.5273
54.5978
,
GBP
62.6662
63.9195
,
EUR
58.516
59.6863
,
AED
13.1884
13.4522
,
NOK
4.834
4.9307
,
SAR
12.909
13.1672
,
SEK
4.676
4.7695
,
CAD
36.2863
37.012

abay

USD
53.5273
54.5978
,
EUR
58.516
59.6863
,
GBP
65.6191
66.9315
,
CHF
58.6087
59.7809
,
AUD
37.801
38.557
,
AED
14.5728
14.8643
,
CNY
7.9411
8.0999
,
DKK
7.8602
8.0174
,
DJF
0.2974
0.3033
,
INR
0.6534
0.6665
,
JPY
0.4167
0.425
,
KES
0.4289
0.4375
,
NOK
5.3414
5.4482
,
SAR
14.2641
14.5494
,
ZAR
3.1204
3.1828
,
SEK
5.1669
5.2702
,
SDR
72.658
74.1112

zemen

CAD
39.7533
40.5484
,
EUR
57.8729
59.0304
,
GBP
65.2913
66.5971
,
SEK
5.081
5.1826
,
USD
53.408
54.4762

buna

nib

berhan

wegagen

USD
53.5273
54.5978
,
GBP
62.6662
63.9195
,
EURO
58.516
59.6863
,
CAD
36.2863
37.012
,
AUD
34.2099
34.8941
,
CHF
55.9713
57.0907
,
SEK
4.676
4.7695
,
NOK
4.834
4.9307
,
DKK
7.1135
7.2558
,
DJF
0.2976
0.3035
,
INR
0.6534
0.6665
,
KSH
0.4289
0.4375
,
JPY
0.3771
0.3846
,
SAR
12.909
13.1672
,
AED
13.1884
13.4522
,
ZAR
3.1723
3.2357
,
CNY
7.1867
7.3304
,
KWD
167.5769
170.9284

dgb

USD
53.501
54.571
,
GBP
65.8865
67.2042
,
EUR
58.2412
59.406
,
CHF
58.3945
59.5624
,
CAD
40.1961
41
,
AUD
37.8573
38.6144
,
SEK
5.1332
5.2359
,
NOK
5.377
5.4845
,
DKK
7.8299
7.9865
,
DJF
0.2972
0.3031
,
INR
0.653
0.6661
,
KSH
0.429
0.4376
,
JPY
0.412
0.4202
,
SAR
14.2563
14.5414
,
AED
14.5652
14.8565
,
ZAR
3.0843
3.146
,
CNY
7.9378
8.0966
,
KWD
175.2318
178.7364

enat

USD
53.1422
54.205
,
GBP
62.1342
63.3769
,
CHF
0
0
,
SEK
0
0
,
NOK
0
0
,
DKK
0
0
,
KES
0
0
,
JPY
0
0
,
DJF
0
0
,
CAD
0
0
,
AUD
0
0
,
SAR
0
0
,
AED
0
0
,
ZAR
0
0
,
CNY
0
0

addis

GBP
59.4718
60.6612
,
USD
52.1166
53.1589

nbe

KWD
126.8085
129.34467
,
CNH
5.6258
5.738316
,
ZAR
2.6751
2.728602
,
AED
9.9063
10.104426
,
SDR
57.7908
58.946616
,
EUR
48.4016
49.369632
,
CAD
28.7765
29.35203
,
AUD
28.3265
28.89303
,
JPY
0.3389
0.345678
,
SAR
9.7001
9.894102
,
INR
0.5525
0.56355
,
DJF
0.2234
0.227868
,
KES
0.3664
0.373728
,
DKK
5.8896
6.007392
,
NOK
4.2714
4.356828
,
SEK
4.3114
4.397628
,
CHF
41.5822
42.413844
,
GBP
53.539
54.60978

dashen

USD
53.5171
54.5874
,
GBP
62.9968
64.2567
,
CHF
56.1698
57.2932
,
SEK
4.6855
4.7792
,
NOK
4.8619
4.9591
,
DKK
7.151
7.294
,
JPY
0.3757
0.3832
,
CAD
36.4432
37.1721
,
SAR
12.9051
13.1632
,
AED
13.1859
13.4496
,
EUR
58.7778
59.9534
,
DJF
,
INR
,
KES
,
AUD
,
ZAR
,
CNY
,
AED

oromia

USD
53.3285
54.3951
,
EUR
56.7522
57.8872
,
GBP
64.2235
65.508
,
SAR
14.185
14.4687
,
CHF
57.398
58.546
,
AED
14.5198
14.8102

lion

coop

USD
53.3643
55.4316
,
GBP
64.4321
65.7207

Wegagen Bank 2013/2014 annual Report shows bounce back from Financial Crisis by Generating Higher Profit In Its 2014 Fiscal Year

WEGAGEN BANK RECOVERED FROM THE FINANCIAL CRISIS.

   Wegagen Bank 2013/2014 annual report shows that the bank has recovered from the financial crisis of the past two years. the bank which has been deeply affected by the Northern Ethiopia war.  was forced to close 112 of its branches and cut some of its customers which increased the damage. 

The war has deeply affected the income and profit rate that could have reached the terms of the bank’s age.

 

After the war, in 2013, Wegagen Bank 2013/2014 annual report shows

  • The general profit rate has dropped from one billion to 193 million Birr
  • Loans taken before the banks closed were not returned which caused a decline in the profit rate.

After the decline and aggravated damage that happened in 2013, the bank has managed to improve its overall performance in the 2014 fiscal year. 

After 2013, in the 2014 fiscal year, as Wegagen Bank 2013/2014 annual Report stated

  • the bank managed to make a profit of 572 million birr before tax
  • 112 branches were able to collect a total of 2.4 billion birr in deposit 
  • At the end of the year, the bank’s deposit reached 33.9 billion birr which recorded an eight percent growth compared to the previous year.
  • The total amount of loans given to various sectors of the economy has reached 30.3 billion birr, showing an increase of 11 percent or 2.9 billion birr compared to the same period of the previous year.
  • The total assets of the bank increased by 8.7 percent or 3.5 billion birr to 43.1 billion birr at the end of the year.
  • The Bank achieved a total income of 5.1 billion birr in the 2014 fiscal year, which is 96.7 million birr more than the previous fiscal year. 

Wegagen Today

From this, we can understand that this year’s bank report that the work done to reduce the cost has been successful. This has reduced the annual cost for the first time. Wegagen Bank After years of a rollercoaster, Wegagen Bank has managed to overcome the problems and other challenges faced during the two-year war crossing the 2014 mark. Wegagen Bank today is as effective and efficient as it can ever be.

 

The board of directors has mentioned that the last fiscal year had been an important period of capacity building in which various strategic initiatives were concluded while others were started. The Bank has strived to embrace emerging opportunities as well as withstand constraining challenges broad-minded and innovatively. Overall, the bank maintained healthy and stable growth by undergoing strategic changes and pursuing complaints operations. (Wegagen bank, s.c. 2013/14 annual report)

Wegagen Bank 2013/2014 annual report Wegagen Bank 2013/2014 annual report

The president also gave an idea to strengthen this, and it is said that activities such as providing new banking services that can increase customer satisfaction, expanding the bank’s income source and digital banking services, strengthening risk management, etc. are included in the employees.

 

He emphasized that strengthening the bank’s strategic relationship with various stakeholders, establishing new relationships, increasing project execution capacity, and building the image of the bank are its main activities. 

 

Regarding the bank’s future activities, the bank has pointed out that despite the non-payment of loans following the war, the bank will work hard to gather new customers. They mentioned that the bank’s community is working wholeheartedly to make this a better bank. Keeping in mind that tomorrow is a brighter day, the bank believes that the work done so far and the work done in the future will lead Wegagen Bank to admirable results. 

to read more about Wegagen Bank visit https://banksethiopia.com/banks/wegagen-bank/